Americann Inc. (ACAN: OTCQX U.S.) | AmeriCann Completes $2,000,000 Equity Financing

OTC

AmeriCann Completes $2,000,000 Equity Financing

Nov 08, 2016

OTC Disclosure News Service

Denver, CO

DENVER, CO /
ACCESSWIRE / November 8th, 2016 / AmeriCann, Inc. (ACAN: OTCQX), a company that
plans to develop sustainable, state-of-the-art medical cannabis cultivation
properties, has completed a $2,000,000 all equity private placement consisting
of Common Stock and warrants.

AmeriCann led the
round with material participation by GVC Capital, LLC, a FINRA licensed
broker/dealer, AmeriCann’s CEO and President, Tim Keogh, and individual
accredited investors.  The private
placement originally consisted of $1,000,000 but due to strong demand the
overallotment option was exercised to expand the offering to its maximum of $2,000,000. 

The offering consisted
of shares of Common Stock and callable Warrants.  The total subscribed proceeds were $2,000,000
before deducting commissions and other estimated offering expenses payable by
the company.  The Warrants would provide
proceeds of an additional $6,000,000 to the Company if all Warrants are
exercised.  The Company completed the
offering on November 7th, 2016.

The proceeds from
the placement will be utilized for the Company’s Massachusetts Medical Cannabis
Center (the “MMCC”) development, to pursue new opportunities in California,
Pennsylvania, Florida and other states, and general corporate purposes.

AmeriCann
recently completed the purchase
of a 53-acre Massachusetts property from
Boston Beer Company (SAM-NYSE) for $4,475,000 cash.  The Company plans to develop the property as
the Massachusetts Medical Cannabis Center, one of the largest and most
technologically advanced cannabis cultivation facilities in the nation.  The MMCC is approved for nearly 1,000,000 square feet of
medical cannabis cultivation and processing in Freetown, Massachusetts. The
state-of-the-art, sustainable, greenhouse project will consist of multiple
planned phases for tenants in the Massachusetts medical marijuana market. 

The first phase
plans for MMCC are based on demand from the existing
medical market.  AmeriCann will monitor
the vote in Massachusetts on adult-use on November 8th and may
modify the development schedule accordingly. 
The Company has plans for an early spring groundbreaking and first
cannabis production in fall of 2017.

The
legal cannabis industry has experienced dramatic growth in recent years, twenty-five
states and the District of Columbia have regulated the use of cannabis.  Additionally,
nine states with over 30% of the United States population will be voting on
November 8th regulating the sale of cannabis for medicinal or
recreational use. 
Most ballot
measures favoring cannabis are polling favorably.

“The state [Massachusetts] could
become one of the biggest regulated cannabis markets in the country; bigger
than Colorado and Washington State,” according to Marijuana Business Daily.  The Boston Globe recently reported the regulated
cannabis market in Massachusetts may exceed $1 billion by 2020.

The respected Wall Street firm of
Cowen Co recently released a research report projecting dramatic growth
for the regulated cannabis industry from the current $7 billion nationally to
over $50 billion in ten years.

About
AmeriCann

AmeriCann is a publicly traded
company that plans to develop and lease sustainable, state-of-the-art medical
cannabis cultivation properties. The Company has over 1,000,000 square feet of
facilities in the planning and design stages of development.  The Company has designed a proprietary line
of cannabis infused products which will be branded and licensed to companies in
regulated markets.

AmeriCann, Inc. is a Certified B Corp, an acknowledgment of the
company’s commitment to social and environmental ethics, transparency and
accountability.
AmeriCann became the first public
cannabis company

to earn this respected accreditation. More information about the Company is
available at: 
www.americann.co.

About Massachusetts
Medical Cannabis Center

The Massachusetts Medical
Cannabis Center is approved for nearly 
1,000,000 square
feet
 of
medical cannabis cultivation and processing in Freetown, Massachusetts. The
state-of-the-art, sustainable, greenhouse project will consist of multiple
planned phases for tenants in the Massachusetts medical marijuana market.  AmeriCann’s Cannopy System uniquely combines
expertise from traditional horticulture, lean manufacturing, regulatory
compliance and cannabis cultivation to create superior facilities and
procedures.

The first phase of the project
consists of 130,000 sq. ft. of cultivation and processing infrastructure.
AmeriCann can expand the first phase to approximately 600,000 sq. ft., based on
patient demand.

Forward-Looking
Statements

This press release contains
“forward-looking statements” within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended (the “Exchange Act”) (which Sections were adopted as part of
the Private Securities Litigation Reform Act of 1995). Statements preceded by,
followed by or that otherwise include the words “believe,” “anticipate,”
“estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and
similar words or expressions, or future or conditional verbs such as “will,”
“should,” “would,” “may,” and “could” are generally forward-looking in nature
and not historical facts. These forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the Company’s
actual results, performance or achievements to be materially different from any
anticipated results, performance or achievements. The Company disclaims any
intention to, and undertakes no obligation to, revise any forward-looking
statements, whether as a result of new information, a future event, or
otherwise. For additional uncertainties that could impact the Company’s
forward-looking statements, please see the Company’s Annual Report on Form 10-K
for the year ended September 30, 2015, which the Company has filed with the SEC
and which may be viewed at
http://www.sec.gov.

Contact Information:

Corporate:

AmeriCann, Inc.

3200 Brighton Blvd. Unit 114

Denver, CO 80216

(303)
862-9000

info@americann.co

www.americann.co

 

Investors:

Hayden
IR

hart@haydenir.com

(917)
658-7878

 

Source: AmeriCann, Inc.

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