AmeriCann, a cannabis company that develops cultivation, processing and product manufacturing facilities, announced that AmeriCann’s Joint Venture partner, Bask has opened its adult use retail cannabis dispensary on Saturday, February 20, 2021 in Fairhaven, Massachusetts.
AmeriCann has a 15-year partnership with Bask that provides AmeriCann with a 15 percent Revenue Participation Fee on all Bask revenue generated from sales from AmeriCann’s Massachusetts Cannabis Center (“MCC”). The commencement of adult use sales may increase Bask’s revenue by 3-5 times which would positively impact AmeriCann’s Revenue Participation Fee.
AmeriCann’s Massachusetts cannabis center, building 1, greenhouse in Freetown, MA.
Building 1, the initial phase of the MCC, is a 30,000 square foot advanced cultivation and product manufacturing facility, 100% of which is occupied by Bask and has been operational since February of 2020.
At Building 1, Bask cultivates over 15 unique strains of cannabis and has an exclusive line of infused products, including Harpoon Extracts, Howl’s Tincture and the recently launched 1906 “Drops.” Locally these products are exclusively available at Bask’s Fairhaven dispensary. The combination of experienced staff, exclusive products and ample on-site parking is expected to attract cannabis consumers throughout the region.
“Bask’s opening its adult use retail is a major catalyst for our collective Joint Venture, stated Ben Barton, AmeriCann’s CFO. “Adult use retail cannabis sales in Massachusetts are four times those of the medical marijuana market. We expect that this expanded distribution channel will produce even greater revenue for AmeriCann for products produced at our Massachusetts Cannabis Center.”
The Massachusetts cannabis market has some of the highest prices in the United States, with wholesale prices exceeding $4,000 per pound and retail prices greater than $7,000 per pound. Adult use cannabis sales in Massachusetts exceeded $1 billion last November since the beginning of the program in 2018.
For more information:
AmeriCann
3200 Brighton Blvd. Unit 114
Denver, CO 80216
(303) 862-9000
info@americann.co
www.americann.co