AmeriCann had secured two licenses from the Massachusetts Cannabis Control Commission. The licenses include one for cannabis cultivation and one for cannabis product manufacturing.
The licenses awarded to AmeriCann will be used by AmeriCann to cultivate cannabis and for manufacturing cannabis infused products in a new Building 2 of the Company’s flagship development, the Massachusetts Cannabis Center (“MCC”). The Company’s design plans for Building 2 include approximately 400,000 square feet of state-of-the-art cultivation and product manufacturing space.
The overall MCC development is permitted for 987,000 square feet, which AmeriCann is developing in phases. The initial phase of the development, Building 1 is complete with AmeriCann’s JV Partner commencing operations in February of 2020.
“Securing these new licenses allows AmeriCann to expand upon its successful first phase of the Massachusetts Cannabis Center,” stated AmeriCann CEO Tim Keogh. “Building 2 will provide much needed cannabis production and manufacturing for the rapidly growing Massachusetts market.”
Plans for Building 2 include up to 80,000 square feet dedicated exclusively for cannabis extraction and product manufacturing. AmeriCann will operate the facility with the capacity to produce pre-packaged flower, prerolls, consumables, concentrates and topicals.