American Green, Inc.™ (OTC:ERBB) Cannabis Grow Operations at “Sweet Virginia” and Newly Under Construction “Cypress Chill” Pave Way for Increased Revenue and More Expansion in 2022
PHOENIX, AZ, Jan. 20, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Today American Green (ERBB:OTC) issued a strategic overview for its shareholders highlighting the following news and events for ERBB in 2021 as well as taking a look at 2022 and beyond.
David G. Gwyther, American Green’s president and chairman, said, “The beginning of 2021 was crucial for our yearly success as we hired Gierczyk Development to be the design-build general contractor for our planned expansion based on voters legalizing the Recreational Cannabis market here in Arizona. The team worked diligently for months seeking out and locating the best property for American Green’s next facility.”
“The company successfully negotiated and signed a 5-year lease agreement with the building owners (allowing for three additional 5-year terms) in May, including an option for American Green to purchase the 40,000 SF building,” continued Mr. Gwyther. “We are planning to exercise our option to buy the “Cypress Chill” property by the end of the year. Owning this property locks in a state-of-the-art cannabis real estate asset that projects to be worth as much as $14 million dollars upon completion, in a market that we believe will become one of the hottest recreational cannabis markets in the country.”
Mr. Gwyther goes on to say, “We have also identified the state of Nevada as a great opportunity to expand our cannabis operations due to its recreational cannabis status and its proximity to our current business in Arizona. We have already started our due diligence and are excited about the possibility of expanding our cannabis management footprint into Nevada this year.”
The aforementioned signed lease in May, brought American Green into August when it received fantastic news from the City of Phoenix with the approval for the “Cypress Chill” facility to operate as licensed cannabis grow. “Cypress Chill” will provide over $15,000,000 (fifteen million dollars) in annual revenue to ERBB after completion which is expected to be by the end of 2022. Quick Tour Of Our New 40,000 SF Cannabis Grow Facility
Also in August, the Company earned a five-year contract with Curaleaf Holdings Inc. for its “Sweet Virginia” grow facility in Phoenix. The agreement has 3 (three) additional five-year terms. That agreement has allowed ERBB to make staff and operational improvements and also allowed American Green to upgrade the facility with top-of-the-line Efinity LED lighting. The improvements have already started and will be complete at the end of April. The overall improvements will add an additional $1,200,000 in annual revenue bringing total annual revenue for “Sweet Virginia” to $3,200,000 – a 60% increase over today’s approximate $2,000,000 annual revenue.
“We had a breakthrough year in our American Green Vending Division. Our American Green Xpress (AGX) identity and age verifying machine, which sells cannabis, CBD, and even beer and liquor, is now upgraded with Jumio software assuring that only customers over 21 can successfully operate the machine. The custom Jumio software, interfaces with our own proprietary software that also allows for autonomous sign-up. The software also provides immediate ID Scan, ID Verification, and “Liveness” proofing to ensure customer presence. We asked a number of potential customers, including cannabis dispensaries, hotels, convenience stores, and casinos, what they wanted to see in our AGX, and facial recognition was number one on their list and self sign-up came in a close second – we now have them both. We are expecting record revenue from the division this year,” said Lindel Creed, head American Green’s vending division.
Kevin Davis, American Green’s V.P. of Online Sales, said, “We started out the year with great success on Amazon with our 2,000 mg hemp balm and continued to expand our online presence with other premium American Green-branded hemp and CBD products for sale on Ebay, Groupon and of course our American Green online store. In addition to major credit or debit cards, customers can now use Bitcoin and other major crypto currencies to purchase any products in our online store. We will continue developing new CBD and hemp products and expand our online footprint so we can increase revenue this year as well as look for new strategic partnerships and more distribution to add to our bottom line.”
In other news, The American Green CBD Emporium is well stocked with some very high-quality CBD offerings – all at very reasonable prices with its New Year’s Specials. Check out American Green’s newest product offerings including its: 50mg CBD Capsules (Sleep Formula), 25mg Water Soluble Powder (10 Pack), and our 1000mg CBD Balm. Or, shop our top selling products (based on order frequency) which include our CBD Capsules, CBD Oils, and CBD Pet Treats.
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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 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 sustainably initiatives in the cannabis-adjacent and CBD industries, laser-focused on adding company and shareholder value.
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American Green, Inc.
2902 W. Virginia Ave
Phoenix, AZ 85009
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.