As a result of the regulatory approvals and the closing of the asset purchase, the Company acquired Naturaleaf’s three medically licensed retail stores, and a 10,000 square foot cultivation and extraction facility located in the metropolitan area of Colorado Springs.
In addition to the modifications we plan to make in the back of the house, we also aim to elevate the retail experience by adding best-in-market products, new retail equipment and technologies to maximize customer/patient experience, as well as maintain consistent inventories.
Scott Saunders, owner of Naturaleaf™, commented: “We are happy to have been acquired by American Cannabis Company.
We are continuing to grow the company by promoting our operational management services and license the American Cannabis Company brand as well as continuing to analyze acquisition opportunities worldwide.
Naturaleaf™, a well-known brand frequently sought out by locals in the Colorado Springs area, has been providing medical patients with cannabis and cannabis-derived products for over ten years.
Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time to time with the Securities and Exchange Commission.
Territories currently have laws broadly legalizing cannabis in some form for either medicinal and/or recreational use governed by state specific laws and regulations.
As a result of the November, 2020 federal elections, and the election of Joseph R.
This would include the Marijuana Freedom and Opportunity Act, that would federally de-schedule cannabis, reinvest tax revenue into communities most affected by the drug war, and fund efforts to expunge prior cannabis records.
Other states that have legalized cannabis for recreational and/or medicinal use restrict public companies from owning interests in state cannabis licenses altogether, or have enacted regulations which make it difficult for corporations to comply with application requirements, including all shareholders submitting to and passing background checks.