AmeriCann, Inc. secures $10 million investment from Mountain State Capital

Freetown, MA AmeriCann, Inc., an Agricultural-Technology company that is developing the next generation of sustainable, medical cannabis cultivation properties, has secured an equity investment commitment of $10 million from Mountain States Capital, LLC (MSC).

The majority of the investment from MSC will be utilized to develop the first phase of AmeriCann’s flagship project, the Massachusetts Medical Cannabis Center (MMCC). This cannabis cultivation and processing development project is 47 miles from Boston in the midst of the rapidly growing Massachusetts medical cannabis market.

The MMCC project is approved for 1 million s/f, which will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation. The project’s first phase will consist of a 30,000 s/f greenhouse, laboratory and research center. AmeriCann has agreements with Coastal Compassion, Inc., one of a limited number of licensed operators in the Mass. cannabis market. 

Coastal Compassion will lease 100% of the first phase of MMCC upon completion.

MSC released a statement that, “AmeriCann is well positioned to benefit from the recent implementation of the landmark adult-use cannabis program in Massachusetts. The Commonwealth, and the country, needs the sophisticated, technologically advanced facilities that AmeriCann is delivering.”

“Massachusetts is one of the most dynamic developing cannabis markets in the United States,” said AmeriCann CEO Tim Keogh. “Our MMCC project will become a center of excellence for quality, consistency, and efficiency and play an important role in helping to provide the cannabis infrastructure the Commonwealth requires.”

In addition to funding the initial 30,000 s/f facility, the balance of the equity is expected to be utilized to prepare for projects in other regulated markets.