PHOENIX, AZ--(Marketwired - Nov 3, 2016) - American Green, Inc. (OTC PINK: ERBB) announced today that the City of Phoenix has reactivated the demolition permit which expired earlier in the year and the Company will select the lights to be used in the flower rooms later today. With these critical and necessary tasks in the rearview mirror, the Company can re-start physical construction, finalize engineering and the site plan and, pending approval from the Department of Health Services, its scheduled harvests beginning late in Q1 of 2017. Overcoming challenges presented additional challenges and opportunities. New chief operating officer Pat Carrigan applied his no-nonsense approach to operations as well as his building experience to anticipate and eliminate hold-ups, define the best path, and get that plan in motion. The specifics will become available over the course of construction and to all who are able to visit the facility for a scheduled tour.
"The cannabis market is relatively new to AZ and while legal within the state, city officials remain understandably very vigilant regarding all aspects of cultivation facilities as they are built and operated. A properly designed and executed plan is what they want, and it is what we will provide them," said David Gwyther, the chairman and acting president at American Green. "After a great start which ground to a halt by mid-year and a budget that had grown so quickly that it exceeded the bounds of practicality, the board, acting president, and our team of specialists were able to corral the expenses associated with the grow facility this summer while maintaining momentum toward its completion. We are very pleased to have Pat Carrigan stepping in to bring our Phoenix Grow to fruition," Mr. Gwyther concludes.
"I saw a lot of opportunity and approached it with an open mind. The original plan laid out when the building was selected back in early 2015 was well designed and bringing the current version of that plan to reality makes sense," commented Pat Carrigan. "A repeatable system that produces top-grade cannabis in orchestrated quantities, while staying focused on strains that have documented medicinal qualities is an operational model that can generate revenues and increase those revenues through confident expansion. By successfully following this strategy, the company provides visible success and growth potential for current and future shareholders. Additional sites have already been identified in Arizona and elsewhere," Carrigan concluded.
The Phoenix cultivation site, whose floor plan was made available in a previous press release, has been organized to have a steady flow of product move through the facility rather than intermittent harvests of imposing size. The regulated model allows for smaller curing and trim rooms, permanent employees to staff those rooms instead of having to hire at sporadic intervals. This grow cycle strategy limits the exposure that less frequent and much larger harvests can create and promotes safety, consistency and quality.
The ten flower rooms are duplicates of current, successful operating cultivation sites that produce top quality product. Each room is capable of yielding 20 pounds of premium cannabis, five times a year; thus, producing a realistic 1000 pound annual yield or $1.5mm in gross revenue at current wholesale market prices. The key feature about a boutique grow facility like this is the consistency of medicinal quality flower and our ability to reproduce and achieve zoning compliance in a far greater number of potential locations.
Groups of up to six will be offered guided visits scheduled on Tuesdays and Fridays limited to two 30 minute tours at 11:30 and 12:00, currently planned to begin November 9th and organized around ongoing construction, with safety always taking priority.
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About American Green, Corp.
American Green, Corp. became one of the first publicly traded technology companies in the medical cannabis industry in the world, beginning in 2009, with the introduction of the ZaZZZ machine for automated, age-verifying dispensing of cannabis-based medicines. Now, with over 50,000 individual shareholders, American Green's mission is to be the cannabis & industrial hemp industry, seed-to sale innovator, leveraging our team of professionals, as well as value-added companies and products - spanning cultivation, manufacturing and extraction, retail, and community outreach. We strive to develop sustainable businesses, while increasing shareholder value, and awareness beyond our industries.
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, 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.