AmeriCann Announces Record Revenue for 2020
December 22, 2020 at 08:30 AM EST
Company Reported Full Fiscal Year 2020 Financial Results
BOSTON, MA / ACCESSWIRE / December 22, 2020 / AmeriCann, Inc. (OTCQB:ACAN), a cannabis company that develops state-of-the-art cultivation, processing and product manufacturing facilities, announced its financial results for the 12 months ended September 30, 2020.
2020 Financial Highlights and Recent Developments
"We are pleased with AmeriCann's 2020 financial performance, primarily because it demonstrates the solid foundation that the Company has in place for the future," stated AmeriCann President Tim Keogh. "The performance of Building 1 has been outstanding, which bodes well for the expansion of operations into Building 2 - the next phase of the Massachusetts Cannabis Center."
AmeriCann uses greenhouse technology which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25 percent fewer lights, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann's Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs.
AmeriCann is also designing GMP Certified cannabis extraction and product manufacturing infrastructure. The Company has secured licenses to produce cannabis-infused products including beverages, edibles, topicals and concentrates. AmeriCann, Inc. plans to operate a Marijuana Product Manufacturing business at the Massachusetts Cannabis Center.
SOURCE: AmeriCann, Inc.
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