Here are the latest headlines, and they include more property and a capital raise:
Jan 3, 2014:
Advanced Cannabis Solutions Announces Definitive Agreement to Acquire Property
A quote from that release:
Advanced Cannabis Solutions (ACS) (OTCQB: CANN) announced today that it has executed a definitive agreement to acquire property in Pueblo County that is the primary growing location for a premier Southern Colorado dispensary. The property, consisting of roughly 3 acres and a warehouse building, meets all zoning and licensing requirements for the ongoing production of legal cannabis. ACS President and CEO Robert Frichtel stated, “We are very pleased to be acquiring a property in the growing Pueblo market through this acquisition. We believe that the Pueblo County’s political environment and economic dynamics are perfectly aligned to make this purchase a great success.” With this purchase agreement ACS has begun the rollout of its core business strategy to assist the rapidly expanding legal cannabis business. ACS CFO Christopher Taylor stated, “The surge in recreational marijuana sales that has occurred in Colorado since January 1 is already causing significant price increases. This is directly related to the perceived shortage of capacity able to feed the supply chain. There is a very real need for additional grow space and ACS is there to help meet this need.”
Jan 2, 2014:
Advanced Cannabis Solutions Meets Requirements for Capital Raise
A quote from that release:
Advanced Cannabis Solutions (ACS) (OTCQB: CANN) announced today that it has successfully met the minimum capital raise requirements for its current $5 million convertible debt placement. This offering, managed by the Denver office of the brokerage firm Spencer Edwards, will be used in the near future to fund several real estate acquisitions of marijuana grow facilities in Colorado. As evidenced by the enormous turnout in Colorado of marijuana consumers yesterday, the demand for product is projected to increase by 200-300% in 2014 compared to 2013. ACS President and CEO Robert Frichtel stated, “Our business model is perfectly positioned to give access to additional grow space and financing to the marijuana industry. We believe we provide a real solution to the capacity problem for operators, while also giving our investors a great rate of return. The favorable investor response to this offering shows that we are on the right track.”
Where we see CANN over the next few weeks and months… That’s next: