American Green adds over 3,000 shareholders this year; Now totaling 57,640
PHOENIX, AZ--(Marketwired - Nov 23, 2016) - American Green, Inc. (OTC PINK: ERBB) announced today that the City of Phoenix awarded the necessary variance to enable the required permitting for the completion of its cultivation site. The initial variance and reason it was provided were never in question; however, the completion was delayed because American Green's board of directors felt that a significant change in the project management was necessary to properly complete the grow operation. Certain aspects of construction are already underway with the fully engineered site plan projected to be completed by December 15th for review and submission for the necessary permits. Quick completion is anticipated because construction management is taking full advantage of pre-production and organizational procedures that are compatible and within the time limits made available to the company. "We very much appreciate the cooperation we've received from the City of Phoenix as American Green worked through their important and necessary shifts in management," said David Gwyther, ERBB's acting president and chairman.
"Shareholders can be assured that American Green will evolve and make whatever changes are necessary to acclimate to our changing political environment. I've been actively involved in overseeing American Green since it entered the cannabis market in 2009 when it became the second publicly traded company in the cannabis sector. I am convinced we will endure as one of the leading medical and adult-use marijuana-related companies in the nation, and we'll do it by adapting to changing laws and times," concluded Mr. Gwyther.
With the BlazeNow relationship on full-throttle, the green light on the cultivation site build-out, and the American Green Machine being readied for consumers, the company feels it is poised to have one of the best first quarters and years in its history.
In other positive news, the official ERBB beneficial owner shareholder count has increased from 54,563 to 57,640 -- an increase in 3,077 shareholders since 2015, as officially reported by Broadridge (www.broadridge.com). The Company is excited by its shareholder growth this past year and is committed to grow its revenue and operating margins in a similar fashion in the coming years during what looks to be a banner year for the cannabis sector.
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
About American Green, Corp.
American Green, Corp., became one of the first publicly traded technology companies in the medical cannabis industry in the world, beginning in 2009, with the introduction of the ZaZZZ machine for automated, age-verifying dispensing of cannabis-based medicines. Now, with over 50,000 individual shareholders, American Green's mission is to be the cannabis & industrial hemp industry, seed-to sale innovator, leveraging our team of professionals, as well as value-added companies and products - spanning cultivation, manufacturing and extraction, retail, and community outreach. We strive to develop sustainable businesses, while increasing shareholder value, and awareness beyond our industries.
American Green, Inc. Investor Relations 2902 W. Virginia Avenue Phoenix, AZ 85009 480-443-1600 X555
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