AmeriCann (OTCQB: ACAN), a cannabis company that develops state-of-the-art cultivation, product manufacturing and distribution facilities, today provided financial and operational updates for its Massachusetts cannabis cultivation, product manufacturing and distribution campus. According to the announcement, the company achieved a significant increase in year-over-year quarterly revenue, reflecting growth of over 36% for the quarter ended June 2022 relative to the quarter ended June 2021, an increase of $213,902. In addition, monthly revenue for June 2022 increased 30% from June 2021. “We’re pleased with achieving record revenue for the quarter and with the strong top-line growth rate,” said AmeriCann President Tim Keogh. “Our operating margins are very strong, and we look forward to reporting our full quarterly financial results in August of 2022.”
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About AmeriCann Inc.
AmeriCann is a cannabis company that develops cultivation, processing and product manufacturing facilities. AmeriCann uses greenhouse technology that is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25% fewer lights, and utility bills are lowered by as much as 75% compared to typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. AmeriCann is also designing GMP-certified cannabis extraction and product manufacturing infrastructure. The company has secured licenses to produce cannabis-infused products including beverages, edibles, topicals and concentrates. AmeriCann plans to operate a marijuana product manufacturing business at the Massachusetts Cannabis Center. For more information about the company, visit www.AmeriCann.co.
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