American Cannabis Company, Inc. (OTCQB: AMMJ) (“ACC”), a full-service business-to-business cannabis and hemp consulting solutions provider, wishes to announce that it has secured a strategic partnership with American Leaf Company, who together with ACC, successfully filed an application for a retail dispensary license in Springfield, Massachusetts.
The goal of this strategic partnership is to pursue retail dispensary licenses throughout the Northeastern United States, in states where cannabis is legal for medicinal or recreational use. In order to align ACC’s interests to the long-term operations of the business, ACC has a 25% equity stake in the operating entity of the strategic partnership, which will expand as its business extends to other qualifying states.
Members of American Leaf Company have experience in franchising, and have built out over 200 gas stations (Exxon, 7Eleven, BP, etc.) and Dunkin’ Donuts locations to date.
Upon securing a license to operate a retail dispensary, American Leaf plans to build out a 3,500 square foot dispensary in the City of Springfield. This dispensary will be called “ACC” and it will be branded and designed with the American Cannabis Company aesthetic and vision. With only the first application submitted to date in this venture, American Leaf has plans to aggressively compete for several license opportunities and launch multiple retail storefronts throughout the Northeastern United States within the next few years.
Brian Kochisarli, member of American Leaf, said: “We are pleased to have joined forces with the American Cannabis Company. The intent is to collaborate with our respective experience and know-how to give us better leverage to meet the needs of local communities in which we operate and to best serve our customers with the highest level of product and service. Obtaining dispensary licenses is a relatively complex process and this collaboration helps streamline the process. We are eager to move fairly rapidly in this area.”
Tyler Schloesser, Chief Operating Officer of American Cannabis Company, commented: “These are very exciting times for ACC as we have joined arms with a group that sees our vision for the future of this firm. ACC is aiming to be nationally recognized as an operator in the retail cannabis space, and I could not be more excited to have partnered with the individuals that comprise American Leaf as we collectively look to dominate the Northeast as a provider of streamlined customer service and best-in-class products to those seeking the best experience. We are confident in this relationship, and as we continue to strategize with this group it is clear that American Leaf is ready to actively acquire licenses and build out the ACC retail brand. As a company ACC will continue to analyze other regions of the United States in effort to properly secure similar partnerships, as we look to become a multi-state operator (MSO) and fly the American Cannabis Company flag for the long-term.”
Terry Buffalo, American Cannabis Company’s Principal Executive Officer, commented: “We are happy to have teamed up with a group such as American Leaf as many of its members have ample experience in franchising and building out brands across the country. Our company has placed an emphasis on branding our own operations with the American Cannabis Company name, and this relationship with American Leaf has helped to advance our progress in this initiative. We hope to secure this retail license opportunity in Springfield, Massachusetts and are actively seeking the next market to apply in.”
About American Cannabis Company, Inc.
American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis and hemp industries. We utilize our industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. We aim to continue to grow the Company by taking equity positions in client projects, licensing the American Cannabis Company brand, as well as analyze acquisition opportunities worldwide. American Cannabis Company also developed and owns a portfolio of branded products including: SoHum Living Soils® – Winner of the 2017 High Times S.T.A.S.H Award for “Best Potting Mix”, The Cultivation Cube™ and the High-Density Cultivation System™. We also design and provide other industry specific custom product solutions.
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Cannabis Remains and Illegal Schedule 1 Drug Under Federal Law
Cannabis, marijuana and its derivatives are illegal “Schedule 1” drugs under the Controlled Substances Act (21 U.S.C. § 811). As Schedule 1 drugs, cannabis, marijuana and derivatives are viewed as being highly addictive and having no medical value. The United States Drug Enforcement Agency enforces the Controlled Substances Act, and persons violating it are subject to federal criminal prosecution. The criminal penalty structure in the Controlled Substances Act is determined based on the specific predicate violations, including but not limited to: simple possession, drug trafficking, attempt and conspiracy, distribution to minors, trafficking in drug paraphernalia, money laundering, racketeering, environmental damage from illegal manufacturing, continuing criminal enterprise, and smuggling. A first conviction under the Controlled Substances Act can generally result in possible fines from $250,000 to $50 million dollars, and incarceration for periods generally from five and up to forty years. For a second conviction, fines increase generally from $500,000 to $75 million dollars, and incarceration for periods generally from ten years to twenty years to life.
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