American Cannabis Company has successfully executed a non-binding letter of intent with Andina Gold Corporation to purchase assets of its Good Meds and BOSM Labs operating division, a fully licensed cultivation and extraction operation in Colorado. Assets are to include one cultivation operation and one hydrocarbon extraction laboratory and production center. All assets to be acquired will operate out of a 60,000-square-foot facility, centrally located in Denver, Colorado. Currently, only 50,000 square feet of space are being utilized, with 10,000 square feet of additional open space ready and available for the Company to use as it looks to scale up operations.
Christopher Hansen, Chief Executive Officer of Andina Gold Corporation, commented: “We are pleased with the non-binding letter of intent with American Cannabis Company, and look forward to working with Terry Buffalo and his team to complete the transaction. The dedicated, consistently excellent work of Good Meds and BOSM Labs personnel has been the driver of their excellent reputation. We also appreciate the steady leadership through this transitional period provided by Amanda Price and John Haugh. We feel confident the impressive work of Good Meds and BOSM Labs will continue as we hand over the keys to American Cannabis Company.”
Terry Buffalo, Chief Executive Officer and Chief Financial Officer of American Cannabis Company, commented, “This is another strategic move for ACC. Officially having secured two non-binding LOIs to date, ACC will soon integrate three retail dispensaries and a total of 70,000 square feet of combined cultivation and extraction operations. The due diligence process for Good Meds and BOSM Labs has begun, and we anticipate this to close in Q2 of 2021. We analyzed many opportunities both here in Colorado as well as in other states, and we ultimately chose to focus on the Colorado market initially. This approach will allow us to improve existing operational processes, refine our workflow and deploy an operational management platform that we can use as we branch out to other regions of the country.”
For more information:
American Cannabis Company
5690 Logan St. Unit A
Denver, Colorado 80216
+1-(303) 974-4770
info@americancannabisconsulting.com
americancannabisconsulting.com