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AmeriCann Comments on Positive Cannabis Election Results and its Positioning to Benefit from Potential Reforms
AmeriCann Comments on Positive Cannabis Election Results and its Positioning to Benefit from Potential Reforms.
About this update from Americann Inc.
[{"type":"text","content":"BOSTON, MA / ACCESSWIRE / November 11, 2020 / AmeriCann, Inc. (OTCQB:ACAN), a cannabis company that develops state-of-the-art cultivation processing and product manufacturing facilities, commented on the recent elections and the potential impact for the Company.Measures to legalize cannabis won major victories in five states - Arizona, New Jersey, South Dakota, Montana and Mississippi. With these results, 15 states, two territories and Washington, D.C., have legalized marijuana for Adult-use, while 34 states and two territories allow medical marijuana."Cannabis was the clear winner in the elections last week," stated AmeriCann president Tim Keogh. "We expect these results will serve as a catalyst for improved federal cannabis regulation. Common sense federal cannabis reform is one of the few items for which both parties agree."Additionally, results of a new Gallup poll show that nearly 7 in 10 Americans now support legalizing marijuana nationwide. This was the highest reading since the Gallup cannabis poll commenced in 1969. The new poll shows majority backing for the policy change across all age demographics for the first time."It's time to update our antiquated federal cannabis laws to reflect the realities of the industry's unprecedented popularity," stated AmeriCann founder Ben Barton.AmeriCann would potentially benefit from some of the proposed breakthrough legislation through:Increased capital availability and terms for quality cannabis developments;Traditional commercial bank borrowing access;Ability to list on major US stock exchanges, including NASDAQ and the New York Stock Exchange; andMore favorable tax treatment of corporate earnings.AmeriCann has already completed Building 1, which is currently operational, at the Company's flagship development, the Massachusetts Cannabis Center ("MCC"). The Company has applied for licenses for the next planned phase of the development which has the capacity for over 400,000 square feet of cannabis cultivation and manufacturing infrastructure.Barton added, "As AmeriCann prepares for construction on the next phase of the MCC, we believe that the Company is well positioned to benefit from this improved political and regulatory environment for cannabis."About AmeriCannAmeriCann (OTCQB:ACAN) is a cannabis company that develop...