Business
AmeriCann's Massachusetts Preferred Partner Receives Final Approval for Cultivation
AmeriCann's Massachusetts Preferred Partner Receives Final Approval for Cultivation.
About this update from Americann Inc.
[{"type":"text","content":"Coastal Compassion, Inc. Receives Final Approval to Commence Cultivation in Fairhaven, MA and a Letter of Support from Freetown, MADENVER, CO / ACCESSWIRE / September 21, 2017 / AmeriCann, Inc. (OTCQB: ACAN), an Agricultural-Technology company that is developing the next generation of sustainable, state-of-the-art medical cannabis cultivation properties, announced that Coastal Compassion, Inc. (\"CCI\"), its Preferred Partner in Massachusetts, received a Final Certificate of Registration from the Department of Public Health.CCI is one of a limited number of vertically integrated companies approved to cultivate, process and eventually dispense medical cannabis in the Massachusetts Medical-Use of Marijuana program. The team members of CCI include a respected medical doctor, patient advocates, cannabis cultivators, security experts and retail operators. The CCI team placed in the top 5% of all applicants for scoring in the first round of competitive application process in 2013.With the Final Certificate of Registration, CCI has all the approvals to commence cultivation in its fully-constructed Registered Marijuana Dispensary (RMD) located in Fairhaven, MA. The Fairhaven RMD will house CCI's initial cultivation and processing operations and a permanent retail dispensary location.Upon completion of the first building at AmeriCann's Massachusetts Medical Cannabis Center (\"MMCC\") in Freetown, MA, CCI will relocate the cultivation and processing activities to the MMCC and maintain its retail dispensary in Fairhaven.AmeriCann has agreements with Coastal Compassion to lease 100% of the first phase of MMCC which will consist of a 30,000 square foot greenhouse, laboratory and research center.Earlier this month AmeriCann announced that it has secured an equity investment commitment of $10,000,000 for the development of the MMCC. The MMCC project is approved for 1 million square feet, which will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation.As part of the Preferred Partnership, over the last 18 months, AmeriCann has been working with CCI on the design of the Fairhaven RMD and the development of the infused products including the Solanna line of products.On September 18th, the Board of Selectmen in Freetown, MA provided a letter of support to Coastal Compassion, Inc...