Business
Massachusetts Officially Launches Adult-Use Cannabis Market
Massachusetts Officially Launches Adult-Use Cannabis Market.
About this update from Americann Inc.
[{"type":"text","content":"AmeriCann is Poised to Benefit from the Emergence of the Only Adult-Use Market in the Eastern United StatesDENVER, CO / ACCESSWIRE / November 20, 2018 / AmeriCann, Inc. (OTCQB: ACAN), a cannabis company that is developing cultivation, processing and manufacturing facilities announces the commencement of Adult-Use sales in Massachusetts. Adults over 21 years of age now have a safe, legal market to purchase laboratory tested cannabis and cannabis products in Massachusetts. Industry experts believe that the Massachusetts adult-use market, in conjunction with its existing medical program, will exceed $1 billion annually generating hundreds of millions in taxes for the Commonwealth. Massachusetts has a population of 6.8 million people and over 47 million people live within a 4 hour drive of Boston, MA. "AmeriCann identified the potential of Massachusetts and executed a plan to make a major impact in the Commonwealth several years ago," stated Tim Keogh. "The official launch of the Adult-Use program validates our efforts to secure nearly a million square feet of infrastructure to serve this market where demand may outstrip supply for the foreseeable future."AmeriCann has commenced construction on the Massachusetts Medical Cannabis Center (MMCC) on a 52-acre parcel located in Southeastern Massachusetts. The MMCC project is designed and approved for 987,000 sq. ft. of cannabis cultivation and processing infrastructure. The facilities will be developed in phases and will support both the existing medical cannabis and the newly emerging adult-use cannabis market. The Company also announced plans to build and operate an advanced large-scale processing and product manufacturing facility at the MMCC.AmeriCann, through a 100% owned subsidiary AmeriCann Brands, Inc., plans to provide extraction and product manufacturing support to the entire MMCC project, as well as to other licensed cannabis farmers throughout regulated markets. In addition to large-scale extraction of cannabis plant material, AmeriCann Brands plans to produce branded consumer packaged goods including cannabis beverages, vaporizer products, edible products, non-edible products and concentrates at the state-of-the-art facility.AmeriCann plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a multi-state li...