AmeriCann, Inc. (OTCQB: ACAN), an agricultural-technology company that is developing the next generation of eco-friendly start-of-the-art greenhouse cannabis cultivation and processing properties, has announced plans to own and operate a large-scale cannabis manufacturing and processing facility at its 52-acre Massachusetts Medical Cannabis Center (MMCC) in Freetown, MA.
The company has commenced construction on the first phase of the MMCC and recently released designs for the second phase. The second phase includes AmeriCann’s manufacturing facility which is designed to provide support to the entire MMCC project, as well as to other licensed cannabis cultivators throughout Massachusetts.
“Participating directly as an operator allows us to have a larger impact and greater flexibility in meeting consumer and patient demand throughout the country,” said Tim Keogh, CEO of AmeriCann.
AmeriCann’s manufacturing facility is designed 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.
The company plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a multi-state operator.
Infused products are becoming an increasingly larger segment of total cannabis sales in regulated markets. According to the Wall Street Journal, “Interest in cannabis as an ingredient in food and drinks in on an upswing; beer brewing giant Constellation Brands, Inc. (NYSE: STZ) recently took a $4 billion stake in Canadian marijuana grower Canopy Growth Corp., (NYSE: CPG) which makes cannabis infused drinks and other products.”
“In Colorado, consumers purchased 12.2 million marijuana infused products in 2017, stated Ben Barton, CFO of AmeriCann. “AmeriCann’s advanced processing and production facility in Massachusetts should play a large role in meeting similar levels of cannabis consumer’s needs in Massachusetts for a consistent supply of a variety of trusted, reliable branded products.”
Industry experts believe that the pending Massachusetts adult-use market, in conjunction with its existing medical program will exceed $1 billion by 2020. As the first approved adult-use cannabis market on the Eastern US, Massachusetts has the potential to become the epicenter for cannabis innovation and research.