AmeriCann, Inc. (OTC:ACAN) will be adding a 30,000 square foot research and development facility to their already planned Freetown, Massachusetts cannabis cultivation and processing facility.
Massachusetts Medical Cannabis Center
AmeriCann's newest cultivation and processing property that they are developing is called the Massachusetts Medical Cannabis Center. Located in Freetown, MA, the town's planning board already unanimously approved a 1 million square foot plan on December 8th.
Last night, the Freetown Planning Board unanimously approved an expanded plan to include a new 30,000 square foot R&D facility. This R&D facility will be in addition to the approved first phase 130,000 square foot cultivation and processing build, making for expanded capacity for 2017 tenants.
According to the release, the Massachusetts Medical Cannabis Center "is expected to be one of the largest and most technologically advanced cannabis cultivation facilities in the nation." The facility will be built on the over 50 acre property that ACAN purchased from Boston Beer Company (NYSE:SAM) back in October for $4,475,000.
"We are pleased that Freetown has approved the expansion of our plans to include a cannabis research and product center in the first phase," stated Tim Keogh, CEO of AmeriCann. "The goal is to make MMCC the place in the northeast U.S. for the creation of a wide variety of exciting new advanced products for medical cannabis patients."
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