American Green, Inc. Purchases 40,000 square foot Cannabis Grow Building for $3,750,000

The building appraised for $5,300,000 and gives American Green total equity of $2,673,000; over 50% of the property value


May 18, 2022 - American Green, Inc. (ERBB:OTC) has purchased the 40,000 square foot building known as American Green's "Cypress Chill" cannabis facility located at 2325 W. Cypress St. Phoenix, AZ. 85009.  The building sits on a 62,000 square foot site and was previously leased by ERBB in August 2021 with an option to buy. American Green has exercised its option to buy the building and now owns it. The purchase price was set at $3.75 million at the time of the signing of the lease last year. Recently, the building was professionally appraised for $5.3 million, giving American Green $1.55 million of additional equity, at the time of closing. When added to the down payment of $1.123 million, there is now a total of $2.673 million of equity in the new "Cypress Chill" cannabis grow building.

https://www.youtube.com/watch?v=N5gZx9cxOi0 

According to David G. Gwyther, American Green's president, "The "Cypress Chill" grow building now becomes the cornerstone of American Green. This is a cannabis-licensed property, projected to yield over $15,000,000 of annual revenue. The new facility will be a great benefit financially for American Green. The Company will receive all of the accounting benefits of owning its building, compared to leasing the building from a third party. Having this solid real estate asset on the books with the improvements that we have been and are currently making to the facility will provide American Green with its own fully operational state-of-the-art cannabis grow building. This is a huge "win" for The Company." concluded Mr. Gwyther. 

There are archives of hundreds of hours of video footage from our "Sweet Virginia" Grow operation that  can be found on the  American Green YouTube Channel

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STAY CURRENT WITH AMERICAN GREEN UPDATES:

American Green's Main Website atwww.americangreen.com

American Green's CBD store  atwww.americangreencbd.com

Live Sweet  Virginia Grow Footage   https://americangreen.com/live/  

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 now, with more than 75,000 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.

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 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.

View the original release on www.newmediawire.com

ERBB Cypress Chill Grow ERBB Cypress Chill Plans ERBB Cypress Chill Hallway to Grow Rooms Rendering

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Trulieve logo (PRNewsfoto/Trulieve Cannabis Corp.)

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Interested parties can join the conference call by dialing in as directed below. Please dial in 15 minutes prior to the call and ask to join the Trulieve Cannabis Corp. call.






North American toll free: 1-844-824-3830

Passcode:

1674609


International: 1-412-542-4136

Passcode:

1674609





A live audio webcast of the conference call will be available at:
https://app.webinar.net/rGl0B9nPzjZ

An archived replay of the webcast will be available at:
https://investors.trulieve.com/events

About Trulieve
Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF. For more information, please visit Trulieve.com .

Facebook: @Trulieve
Instagram: @Trulieve _
X: @Trulieve

Investor Contact
Christine Hersey , Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com

Media Contact
Phil Buck , APR, Corporate Communications Manager
+1 (406) 370-6226
Philip.Buck@Trulieve.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/trulieve-cannabis-corp-to-hold-fourth-quarter-and-full-year-2023-results-conference-call-on-february-29-2024-302052287.html

SOURCE Trulieve Cannabis Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/05/c5649.html

News Provided by Canada Newswire via QuoteMedia

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