Attached files
EXHIBIT 99.2
AmeriCann Partners with Medical Marijuana Applicants in Illinois in $9 Million
Alliance
PR Newswire
DENVER, Oct. 20, 2014
DENVER, Oct. 20, 2014 /PRNewswire/ -- AmeriCann, Inc. (ACAN OTCQX), a company
that develops cannabis cultivation facilities and provides capital for cannabis
entrepreneurs, has partnered with local medical marijuana applicants in the
state of Illinois.
"AmeriCann's management team members have had extensive first-hand experience
with compassionate medical marijuana programs for many years," AmeriCann CEO Tim
Keogh stated. "We have seen the tremendous benefits that patients have received
from medical cannabis and, as an organization, we are proud to play a role in
helping to potentially bring an important medicine to patients in Illinois."
In Illinois, the Compassionate Use of Medical Cannabis Pilot Program Act was
signed by Governor Quinn on August 1, 2013, and went into effect on January 1,
2014. The Department of Agriculture is responsible for registering and
regulating up to 22 cultivation centers allowed by the law.
Mr. Keogh added, "AmeriCann has been actively consulting with and funding
cannabis entrepreneurs in Colorado. These Illinois partnerships demonstrate our
commitment to expanding our support on a national level. As more states embrace
compassionate medical marijuana programs the need for experience, knowledge and
capital should increase dramatically."
Under the terms of the agreements, in addition to consulting, AmeriCann would
provide capital for the acquisition of land, working capital and construction
for new, state-of-the-art cannabis cultivation facilities. If all licenses are
granted to its partners in Illinois, the total investment could exceed
$9,000,000.
AmeriCann's current agreements to provide its expertise and capital are
dependent upon its partners receiving licenses for which they have applied.
Also, the company's financing of the facilities is contingent upon AmeriCann's
ability to secure additional funding for the projects.
About AmeriCann
AmeriCann Inc. (OTCQX: ACAN), with corporate offices in Denver and Boston, is a
publicly traded company that delivers an essential set of services to the
rapidly developing regulated cannabis industry. Utilizing the extensive
experience of its accomplished management team, AmeriCann provides real estate
development, research, consulting and capital to the medical marijuana industry.
The size of the marijuana industry is estimated to be $1.2 billion and is
projected to reach $10.2 billion by 2018.
AmeriCann has deployed over $3,000,000 in capital in Colorado, and plans to
expand throughout the country aggressively as new states approve and regulate
medical marijuana. More information about the Company is available at
ACANinfo.com.
Forward-Looking Statements
This press release contains "forward-looking statements" that include
information relating to future events and future financial and operating
performance. The words "may," "would," "will," "expect," "estimate," "can,"
"believe," "potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Forward-looking statements
should not be read as a guarantee of future performance or results, and will not
necessarily be accurate indications of the times at, or by, which that
performance or those results will be achieved.
Media Contact: AmeriCann, Inc., 303-862-9000 or media@ACANinfo.com
Twitter: @acaninfo
Website: http://www.ACANinfo.com
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news-releases/americann-partners-with-medical-marijuana-applicants-in-illinois-
in-9-million-alliance-906298257.html
SOURCE AmeriCann, Inc.
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