Saturday, June 25, 2022

Americann Inc (OTCMKTS:ACAN) Looks to Scale Operations

Americann Inc (OTCMKTS:ACAN) is a micro-cap name that has started to engage some focus among traders and investors as prices get a little traction in bounce mode. The key catalyst here is easy to spot: The company has retained Campanelli Construction as the General Contractor for the Massachusetts Medical Cannabis Center. AmeriCann plans to develop the property as the Massachusetts Medical Cannabis Center, one of the largest and most technologically advanced cannabis cultivation facilities in the nation.

Looking at the recent action, we’ve witnessed 82% tacked on to share pricing for the name in the past month. The situation may be worth watching. ACAN has a history of dramatic rallies. What’s more, the company has seen interest climb, with an increase in recent trading volume of a bit over 100% beyond its prior sustained average level Traders should note this as important given the stock’s relatively small trading float of roughly 15M shares. As savvy traders are well aware, ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.

Americann Inc (OTCMKTS:ACAN) frames itself as a company that provides various services to the regulated cannabis industry in the United States.

The company offers services that include consulting, design, construction, and financing to approved and licensed marijuana operators. It focuses on developing, owning, and supporting medical cannabis cultivation and processing facilities.

The company was formerly known as Nevada Health Scan, Inc. and changed its name to AmeriCann, Inc. in February 2014. AmeriCann, Inc. was founded in 2010 and is based in Denver, Colorado.

According to company materials, “AmeriCann is a publicly traded company that plans to develop and lease sustainable, state-of-the-art medical cannabis cultivation properties. The Company has over 1,000,000 square feet of facilities in the planning and design stages of development. The Company has designed a proprietary line of cannabis infused products which will be branded and licensed to companies in regulated markets. AmeriCann, Inc. is a Certified B Corp, an acknowledgment of the company’s commitment to social and environmental ethics, transparency and accountability. AmeriCann became the first public cannabis company to earn this respected accreditation.”

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As noted above, ACAN just contracted Campanelli Construction as the General Contractor for the Massachusetts Medical Cannabis Center. Campanelli is a third generation, full-service commercial real estate development and acquisition company. The company has over six decades of successful experience having developed, built and acquired over 22 million square feet of property. Campanelli has set a precedent for executing multi-market development of highly specialized real estate, providing design-build services for clients throughout the country.

“Campanelli proved to be an invaluable resource for our project in Massachusetts. We are confident in having such a knowledgeable local partner with national expertise and look forward to replicating this success by working with Campanelli on future projects throughout the nation,” stated AmeriCann CEO Tim Keogh. Campanelli provided AmeriCann with its vertically-integrated real estate services including brokerage, development and construction management.

According to a recent release, “AmeriCann acquired the rights to the 53-acre property in Freetown earlier this year. The sustainable greenhouse project will consist of multiple planned phases; the first phase will include two buildings at 130,000 and 30,000 square feet, respectively. Future phases are permitted for an additional 800,000+ square feet based on market demand. AmeriCann plans to break ground on the first phase in the first quarter of 2017 and AmeriCann’s Preferred Partners will have cannabis in production on the property by fall of 2017.”

Currently trading at a market capitalization of $30.6M, Americann Inc has virtually no cash on the books, which compares with about $3.4M in total current liabilities. One should also note that debt has been growing over recent quarters. So, the balance sheet is not a strong suit. But some money is coming in: ACAN is pulling in trailing 12-month revenues of $90K. However, the key with this story lies completely in how the company executes on its strategy of scaling up into the market. We will update the story again soon as developments transpire. For continuing coverage on shares of $ACAN stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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