American Green, Inc. (OTC:ERBB) to Issue Its Own Cryptocurrency called American GreenBack™

Rhea-AI Summary

American Green, Inc. (ERBB) has announced the development of its new cryptocurrency, the American GreenBack™, designed for age-verified transactions in sectors like alcohol sales and cannabis. The company has executed a binding letter of intent to acquire VendWeb and has completed the second cash payment under this agreement. The American GreenBack™ will utilize KYC and AML compliant verification methods alongside biometric data, ensuring secure transactions. A whitepaper detailing the cryptocurrency's functionalities is expected to be released this month.

Positive

• Launch of American GreenBack™ cryptocurrency aimed at age-verified transactions.
• Acquisition of VendWeb progresses with a completed cash payment.
• Planned release of a whitepaper to define the cryptocurrency's purpose and functionality.

Negative

• None.

 A cutting-edge digital asset designed and created for age-verified transactions 

PHOENIX, AZ, April 07, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – American Green, Inc. (ERBB:OTC) president David G. Gwyther announced today that The Company is developing its cryptocurrency: The American GreenBack™

American Green recently executed a binding letter of intent to acquire VendWeb and has completed the second cash payment as part of that binding (LOI). The Company plans to launch its new crypto coin, designed specifically for use in age-verified transactions for alcohol sales in venues such as sporting events, concerts, nightclubs, or other age-restricted settings such as cannabis dispensaries and smoke shops.

“American Green intends to release a whitepaper this month defining our purpose-designed cryptocurrency for transactions that require age verification.  The Company anticipates utilizing an American Green application on the user’s device, to allow the purchase and use of American GreenBacks™ in our proprietary vending solutions,” said David G. Gwyther, president of American Green.   

As envisioned, the American GreenBack™ would employ Know Your Customer (KYC) and Anti-Money Laundering (AML) compliant verification software, together with biometric data (ID, fingerprint, retinal scan, palm print, etc.) - all maintained in a unique, unalterable blockchain. American GreenBacks™ would only be tradeable with other KYC/AML-verified counterparties. 

Read more about American Green's newest division VendWeb here

Video Demonstration of the AGX Age Identification  and Age  Verification Vending Machine

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There are also archives of hundreds of hours of footage from our Sweet Virginia Grow operation that  can also be found on the  American Green YouTube Channel

STAY CURRENT WITH AMERICAN GREEN UPDATES:

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

American Green’s CBD store  at www.americangreencbd.com

Live Sweet  Virginia Grow Footage   https://americangreen.com/live/  

Twitter:  @American__Green (two underscores), or

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

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ABOUT AMERICAN GREEN, INC.

In 2009, American Green, Inc. became America’s second publicly traded company in the cannabis sector. American Green now, with more than 77,000 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 sustainably 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 purpose of the American GreenBack™ cryptocurrency?

The American GreenBack™ is designed for age-verified transactions, particularly in sectors like alcohol and cannabis sales.

What company is behind the American GreenBack™?

The American GreenBack™ is developed by American Green, Inc. (ERBB).

What recent acquisition has American Green made?

American Green has executed a binding letter of intent to acquire VendWeb and completed a second cash payment.

When will the whitepaper for American GreenBack™ be released?

The whitepaper detailing the American GreenBack™ is expected to be released this month.