AmeriCann, Inc. announced that 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.