On August 2, 2019 the Company borrowed $4,000,000 from an unrelated third party. The loan bears interest at the rate of 11% per year, was due and payable on August 2, 2022 and is secured by a first lien on Building 1 at the Company's Massachusetts Cannabis Center.
On December 9, 2020 the loan was increased by $500,000 and the maturity date of the loan was extended to August 1, 2023. On July 31, 2023 the maturity date of the loan was extended to December 1, 2023.
On November 30, 2023 the maturity date of the loan was extended to January 31, 2024.
Americann Inc. published this content on 11 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 December 2023 11:02:22 UTC.
AmeriCann, Inc. is a cannabis company that develops cultivation, processing and product manufacturing facilities. It has provisional licenses to produce cannabis-infused products, including beverages, edibles, topicals and concentrates. It designs GMP-certified cannabis extraction and product manufacturing infrastructure. Its flagship project is the Massachusetts Cannabis Center (MCC), which is being developed on a 52-acre parcel. MCC project is permitted for over 800,000 square feet of cannabis cultivation and processing infrastructure which is being developed in phases to support both the existing medical cannabis and the emerging adult-use cannabis marketplace. The Company, through a 100% owned subsidiary, AmeriCann Brands, Inc., has received two licenses from the Massachusetts Cannabis Control Commission to cultivate cannabis and provide extraction and product manufacturing support to the entire MCC project, as well as to other licensed cannabis farmers throughout regulated market.
AMERICANN, INC. 
