Colorado-based corporation AmeriCann has recently announced that it has secured $10 million in equity in order to build a huge cannabis facility in southeastern Massachusetts for processing and cultivation.
The company, which does not grow or distribute marijuana itself, is planning for a 1 million-square-foot Massachusetts Medical Cannabis Center in Freetown, near Fall River.
The size of the facility will make it one of the largest commercial marijuana facilities in the United States. The site was purchased last year from the Boston Beer Company for $4.475 million in cash.
The investment firm Mountain States Capital stated, “AmeriCann is well-positioned to benefit from the recent implementation of the landmark adult-use cannabis program in Massachusetts.”
CEO of AmeriCann Tim Keogh stated, “Massachusetts is one of the most dynamic developing cannabis markets in the United States.”
The company has said the facility “will become a center of excellence for quality, consistency and efficiency.”
AmeriCann plans to license “Solanna,” which is a line of cannabis-infused products.
