UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): January 18, 2018
AMERICANN, INC.
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(Exact name of registrant as specified in its charter)
Delaware 000-54231 27-4336843
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
3200 Brighton Blvd., Unit 144
Denver, CO 80216
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (303) 862-9000
_______________________________
(Former name or former address if changed since last report)
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-14(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has
elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the
Exchange Act. [ ]
Item 8.01 Other Events
Beginning September 21, 2014, we entered into a series of agreements with
Wellness Group Pharms, LLC ("WGP"), an entity that was pursuing licenses to
operate marijuana cultivation facilities under the Illinois Compassionate Use of
Medical Cannabis Pilot Program Act. On February 2, 2015 WGP was granted a
license to operate a cultivation facility. As amended, these agreements
provided, among other things, that we were to provide working capital advances
to WGP, with any advances accruing interest at a rate of 18% per annum.
Between February 2015 and April 2015, we made working capital advances to
WGP totaling $673,294. We also funded costs totaling $332,357 to begin
construction of WGP's cultivation facility. Due to WGP's failure to comply with
the terms of these agreements, and repeated lack of good faith and fair dealing,
we terminated the agreements with WGP.
On April 7, 2017 we filed an arbitration claim against WGP. The arbitration
hearing commenced on January 8, 2018 and concluded on January 10, 2018.
On March 15, 2018, the arbitration panel issued its final award and awarded
us $1,761,675. This award consisted of $1,045,000, plus interest at the rate of
18% per year from April 18, 2015 through March 15, 2018 ($550,000), our
attorneys' fees and costs ($113,865), and arbitration fees and expenses
($52,810).
The American Arbitration Association will also return to us $32,562 which
we paid to the AAA as deposits during the course of the arbitration proceeding.
The arbitration award issued on March 15, 2018 is final and not subject to
appeal or counterclaim.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: March 20, 2018.
AMERICANN, INC.
By: /s/ Timothy Keogh
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Timothy Keogh, Chief Executive Officer
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