DENVER, CO--(Marketwired - Apr 18, 2017) - American Cannabis Company, Inc. (OTCQB: AMMJ) (the "Company"), a business-to-business consulting firm and distributor of ancillary products and services to the cannabis industry, today announced it has secured its first retainer client (the "Client") in the state of Louisiana. The Client, CB Medical, LLC ("CB Medical"), is a newly formed entity that is one of the applicants for the LSU-sponsored medical marijuana program. LSU has indicated that it will select finalists for live presentations next month, and then it will determine a winner in June 2017.
CB Medical retained American Cannabis Company to assist them in designing and operating a medical marijuana program for patients in Louisiana in partnership with the Louisiana State University ("LSU") and the Louisiana State University AgCenter ("the AgCenter"). The medical marijuana program plans feature a production facility in Baton Rouge, Louisiana, that will be custom-built to produce medical marijuana for the program, complete with an indoor cultivation center, an extraction and formulation lab, a testing lab, and an LSU research lab. The CB Medical production facility will showcase American Cannabis Company's proprietary cultivation methods in two phases: phase 1 will use the Cultivation Cube™ model, a self-contained growing system purposed for commercial-scale growing and speed-to-market execution; and phase 2 will apply the High Density Cultivation System™, which maximizes potential profit and space utilized with its vertical racking structure.
CB Medical Chairman of the Board, Dr. Kenneth Perego, MD, adds, "We are excited to have American Cannabis Company as our long-term partner for the LSU project. We selected them as our [cannabis] consultant because we believe that they are the best at what they do in the industry. In particular, we were impressed by their proprietary cultivation methods and their past experience with projects similar to this one. This is the right group to help us produce pharmaceutical-grade medicine at our production facility."
The LSU medical marijuana program is requiring bidders to compete for one of only two medical marijuana licenses issued by the Louisiana Department of Agriculture & Forestry to produce pharmaceutical-grade cannabis for patients in the state. Seven (7) companies applied for the offer and submitted SFO proposals to LSU Procurement Services, including CB Medical. Per LSU Procurement Services and Louisiana WAFB Channel 9 News, CB Medical is one of the six out of seven applicants located in the state of Louisiana. The LSU Solicitation for Offer ("SFO") was issued earlier this year and was due on March 31.
American Cannabis Company was retained to complete the required SFO for LSU's medical marijuana program in an effort to organize the first legal, commercial-level cannabis operation within the state of Louisiana. If CB Medical is awarded the offer by LSU, the Company will work with their executive team to plan, deploy, and oversee cultivation and marijuana-infused product manufacturing operations. The team expects to have medical marijuana available to Louisiana patients by the end of the year.
Terry Buffalo, CEO of American Cannabis Company, commented: "We are excited to be working with the CB Medical group, and we would be honored to partner with LSU and the LSU AgCenter as well. For this program, we have assembled a world-class team of experts that we believe are exceptionally qualified to contribute to this project. Louisiana is a unique market because of the state's mandate for oil-based products (i.e. no smoking or vaping), so we had an opportunity to create some new, custom strategies to fulfill the expected patient demand."
Based in Denver, Colorado, American Cannabis Company, Inc. offers turnkey and end-to-end solutions to existing and aspiring participants in the cannabis industry. Their team of industry veterans leverages hands-on experience and knowledge to provide business planning and market assessment services, to assist with state licensing procurement, and to create business infrastructure and operational best practices. Since 2013, American Cannabis Company has worked with dozens of companies that are now thriving in the cannabis industry, many of which were awarded legal marijuana licenses in multiple states with the assistance and support of the Company. American Cannabis Company also owns a portfolio of proprietary cultivation products, including: The Satchel™, Sohum Living Soils™, The Cultivation Cube™, and The High Density Cultivation System™. The building and development of its brands and product suite is based on the Company's geoponics philosophy of "combining the art and science of agriculture in soil."
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", "intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should review all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.