American Green (OTC:ERBB) Issues Strategic
Corporate Overview
Looking to further expand its cannabis business
in 2023
PHOENIX, AZ -- February 14, 2023 -- InvestorsHub NewsWire
-- American Green
(ERBB:
OTC) In May of 2022, American Green purchased the
approximate 40,000 sf building now
known as American Green's
"Cypress Chill" cannabis facility located at 2325 W. Cypress St.
Phoenix, AZ. for $3.75MM.
American
Green announced today that The Company is, again, looking to
expand its cannabis grow business in 2023.
"American Green is looking at a potential cannabis grow property
South of the city of Phoenix. It is also looking to purchase a
cannabis license to own and operate a cannabis dispensary in
Arizona. This dispensary would allow American Green to sell
its premium cannabis products directly to the public and would
complete a full seed-to-sale business model. The Company has
also been looking at potential cannabis grow and dispensary
opportunities in Nevada," said David G. Gwyther,
president.
The Company continues to have an excellent working relationship
with Curaleaf, who has been purchasing almost all of the premium
cannabis grown at its "Sweet Virginia" grow facility since June
2020. The products are in over 70 Arizona dispensaries.
American Green also launched its first American Green branded
premium " Private Reserve " cannabis flower in 2022, now
sold in select dispensaries in Arizona.
2022 was a pivotal year for American Green. It completed the
building renovations and upgrades needed to support all of the new
cannabis equipment upgrades at its "Sweet Virginia" and now expects
fiscal year-over-year revenue to more than double to about
$4,000,000 million
annually. American Green also completed demolition
construction on its "Cypress Chill" grow facility, and the
architectural plans are in the final stages of review with the City
of Phoenix.
American Green plans to launch new and more effective
CBD products on
Amazon and other e-commerce sites this year. The
company is also in the process of redesigning its corporate and CBD
retail websites. Once complete, American Green will look to
start an aggressive advertising campaign to help build its overall
corporate brand awareness and product sales through retail and
e-commerce sites.
The Company also acquired the Vendweb vending company in 2022.
Vendweb is the supplier of American Greens AGX facial recognition
age-verifying smart vending machines. Vendweb also
has a retail vending machine business division that has now been
integrated into The Company.
"American Green is laser-focused on improving its existing business
verticals in 2023, and we are aggressively looking to expand
further into the cannabis and CBD businesses. We are looking
for the best possible opportunities for American Green and its
shareholders," Mr. Gwyther concluded.
Shareholders and
interest holders may sign up for American Green corporate email
updates, including press releases delivered directly to your
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 70,000
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.
