American Green, Inc.™ (OTC:ERBB) Issues Update on U.S. Cannabis Cultivation Expansion

Rhea-AI Summary

American Green, Inc. (ERBB:OTC) is advancing its cannabis cultivation expansion with plans for a 20,000 square foot building in Arizona, along with an additional 16,000 square foot space. This initiative is expected to generate approximately $11 million in annual revenue, with an estimated net revenue of $7 million. The project will also feature state-of-the-art kitchen facilities for cannabis products. The architectural firm Gierczyk Architects is finalizing the design for this significant expansion.

Positive

• Projected annual revenue of $11 million from the new cannabis cultivation facility.
• Estimated net revenue of $7 million per year.
• Expansion of cannabis grow space by an additional 36,000 square feet.

Negative

• None.

Gierczyk Architects are Completing Design and Building Plans for 20,000 SF Cannabis Cultivation Building

PHOENIX, AZ, March 01, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Today, American Green, Inc. (ERBB:OTC) issued an updated overview for its shareholders highlighting the following news and events pertaining to ERBB’s  Cannabis Cultivation Expansion for  2021. Over the past four months, American Green™ has been conducting it’s due diligence regarding plans to increase its cannabis cultivation footprint in the U.S.

“Gierczyk Developments architectural team is currently completing design and building plans for an Arizona location that will house a 20,000 SF Cannabis Grow with additional plans to add another 16,000 SF of Cannabis Grow Space,” according to David G. Gwyther, the Company’s president. 

Bryan Croteau, American Green’s VP of Cultivation states, “A 20,000 square foot building coupled with a 16,000 SF addition will increase the Company’s total Cannabis Grow Space another 36,000 SF. Total estimated annual revenue for this project will be approximately $11,000,000 and we anticipate net revenue to be about $7,000,000 per year.”

Planned with the additional development are state-of-the-art kitchen facilities and manufacturing space for American Green-branded cannabis edibles, concentrates, and CBD products. Chef Dee Russell (aka “Edible Dee” and “The Happy Chef”) will be instrumental in the development of all of American Green’s cannabis recipes and marketing strategies. Chef Dee also is the Company’s key consultant on the design of the grow’s kitchen and edibles manufacturing space.

Shareholders and interest holders may also stay current with American Green Updates:

American Green’s Main Website at www.americangreen.com

Twitter: @American__Green (two underscores), or

Facebook: https://www.facebook.com/americangreenusa

Instagram: https://www.instagram.com/americangreenusa/

Instagram: https://www.instagram.com/magicalnipton/

About American Green, Inc.

In 2009, American Green, Inc. became America’s second publicly-traded company in the cannabis sector. American Green now, with its more than 50,000 certified beneficial shareholders, is one of the largest (in shareholder count)  in the cannabis sector.  American Green's mission is to lead the cannabis and premium CBD industry.

Leveraging our team of professionals in cultivation management, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable initiatives in the cannabis-adjacent and CBD industries, laser-focused on adding company and shareholder value.

For more information -

Contact:
American Green, Inc.
Investor Relations
2902 W. Virginia Ave
Phoenix, AZ  85009
480-443-1600 X555
investor@americangreen.com

NOTES ABOUT FORWARD-LOOKING STATEMENTS

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, be 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.

FAQ

What is the latest news on American Green (ERBB)?

American Green is expanding its cannabis cultivation with a new 20,000 square foot facility in Arizona, projected to generate $11 million in annual revenue.

What are the expected revenues from American Green's new cultivation project?

The new cannabis cultivation project is expected to generate approximately $11 million in annual revenue, with net revenue around $7 million.

Who is managing the design for American Green's new cannabis facility?

Gierczyk Architects is completing the design and building plans for American Green's cannabis cultivation facility.

What will be included in the new cannabis facility being built by American Green (ERBB)?

The facility will include a 20,000 square foot grow space, with an additional 16,000 square feet planned, plus kitchen facilities for cannabis edibles.