- January 4, 2018
- Posted by: Jared Lerner
- Category: Finance & accounting
DENVER, CO / NEW MEDIA NEWS / January 4, 2018/ American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC”), a full-service business-to-business consulting solutions provider, and seller of ancillary products to the cannabis industry, today announced that it has secured a consulting contract with California City Cannabis Company (California City) in the state of California. In conjunction with the consulting agreement, ACC will acquire an equity stake in California City’s project that is currently non-operational and in the development stage.
As proposed, California City has plans to construct a cannabis business park located in California City, California. The plans for the park include a total twenty to twenty-five acres of land set aside for development, and the potential hosting of future extraction, cultivation and distribution businesses. It is expected that this property will ultimately house up to sixteen (16) greenhouses at 25,000-35,000 square feet per unit, with a canopy limit of 22,000 plants. The project will begin with the initial construction of two greenhouses, which California City expects to expand into sixteen greenhouses over the next three years. California City’s project has been initially granted permits for medical cultivation and extraction, and anticipates converting all of its licenses to recreational use after city regulatory review and approval.
Michael Duncan, California City’s CEO commented: “Strategic alliances will be the key to success in the California market. This reason is why we chose American Cannabis Company to be our partner. We are proud and honored to be sharing a fruitful relationship with American Cannabis Company. We chose California City because of its strategic location, allowing access to major cities in Southern California. With these variables combined, California City Cannabis Company’s goal is to become one of the largest suppliers in this growing new market.”
Terry Buffalo, CEO of American Cannabis Company, commented: “We are ecstatic to be a part of this project in California City. We see tremendous potential in the scalability of this project, and look forward to having a long-standing relationship with this client. Being equity participants in the project allows our company to focus on the long-term goals of our client and increase value to our shareholders. We want our client to be a sustainable success, as this business park will serve as a beacon for all aspiring cannabis business entrepreneurs who wish to cultivate, extract or distribute cannabis.”
About American Cannabis Company, Inc.
American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis industry. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. American Cannabis Company also developed and owns a portfolio of branded products including: The Satchel™, SoHum Living Soils™, The Cultivation Cube™ and the High-Density Cultivation System™. We also design and provide other industry specific custom product solutions. The building and development of our brands and product suite is based on our Geoponics Philosophy, “the art and science of agriculture in soil.”
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Forward Looking Statements
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 consult all of 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.