American Green (OTC:ERBB) Signs
$12 Million Dollar Non-Binding Letter of Intent for Funding
of its Cypress Chill Cannabis Grow Facility
PHOENIX, AZ -- February 7, 2023 -- InvestorsHub NewsWire -- Today
American Green
(ERBB:
OTC) announced that it has signed a non-binding letter of
intent for $12,000,000 with a private equity firm to fund the
completion of the build-out at its "Cypress Chill" grow building
that it purchased in May of 2022 for $3.75MM. The company
will continue to provide the documentation required by the lender
so it can get through the loan application process.
American Green will keep looking for the best possible funding
opportunities for Cypress Chills construction and for the rest of
the equipment needed to fully complete the state-of-the-art
cannabis grow facility. We would like to thank two extremely
important equipment suppliers for their time, expertise, and the
supply of their excellent products. Agronomic IQ is supplying
the majority of the HVAC equipment and controls that will help us
dial in a great cannabis growing environment, and Dutch Direct is
supplying the custom-made movable cannabis grow benches/tables that
help to speed and simplify the cultivation process for the growers
and also improve the working conditions for our
employees.
Shareholders and
interest holders may sign up for American Green corporate email
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inbox.
Visit:
American Green's Main
Website at
www.americangreen.com
Twitter:
@American__Green (two
underscores), or
Facebook: https://www.facebook.com/americangreenusa
Instagram:
https://www.instagram.com/americangreenusa/
About
American Green, Inc.
In 2009, American Green,
Inc. became America's second publicly-traded Company in the
cannabis sector. American Green, 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 sustainable initiatives in the
cannabis-adjacent and CBD industries, laser-focused on adding
Company and shareholder value.
For more information
-
Contact:
American Green,
Inc.
Investor
Relations
2902 W. Virginia
Ave
Phoenix,
AZ
85009
480-443-1600
X555
investor@americangreen.com
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 the Company's current
expectations 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.
