It would hardly be counted as a complete day of market reporting without at least one tale of the cannabis business. Thursday proved no exception, with tidings that Denver-based AmeriCann, Inc. (OTC:ACAN) had thrown in its lot with Bask, Inc., an established Massachusetts cannabis operator, at the Company's Massachusetts Medical Cannabis Center "MMCC."
A news release reporting the joint venture further expounded that MMCC is being developed on a 52-acre parcel located in Southeastern Massachusetts, and is permitted for 987,000 sq. ft. of cannabis cultivation and processing infrastructure, which will be developed in phases, and plans to support both the existing medical cannabis and the newly emerging adult-use cannabis marketplace.
AmeriCann plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a licensed multi-state operator.
As for the stock’s price, ACAN climbed six cents, or 3.2%, to $1.94, on volume of 62,000 shares.
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