American Green, Inc. (OTC

ERBB) Cannabis Grow Operations at “Sweet Virginia” and Newly Under Construction “Cypress Chill” Pave Way for Increased Revenue and More Expansion in 2022

PHOENIX, AZ, Jan. 20, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Today American Green (ERBB:OTC) issued a strategic overview for its shareholders highlighting the following news and events for ERBB in 2021 as well as taking a look at 2022 and beyond. 

David G. Gwyther, American Green’s president and chairman, said, “The beginning of 2021 was crucial for our yearly success as we hired Gierczyk Development to be the design-build general contractor for our planned expansion based on voters legalizing the Recreational Cannabis market here in Arizona. The team worked diligently for months seeking out and locating the best property for American Green's next facility.”  

“The company successfully negotiated and signed a 5-year lease agreement with the building owners (allowing for three additional 5-year terms) in May, including an option for American Green to purchase the 40,000 SF building,” continued Mr. Gwyther.  “We are planning to exercise our option to buy the “Cypress Chill” property by the end of the year. Owning this property locks in a state-of-the-art cannabis real estate asset that projects to be worth as much as $14 million dollars upon completion, in a market that we believe will become one of the hottest recreational cannabis markets in the country.” 

Mr. Gwyther goes on to say, “We have also identified the state of Nevada as a great opportunity to expand our cannabis operations due to its recreational cannabis status and its proximity to our current business in Arizona. We have already started our due diligence and are excited about the possibility of expanding our cannabis management footprint into Nevada this year.”

The aforementioned signed lease in May, brought American Green into August when it received fantastic news from the City of Phoenix with the approval for the “Cypress Chill” facility to operate as licensed cannabis grow. “Cypress Chill” will provide over $15,000,000 (fifteen million dollars) in annual revenue to ERBB after completion which is expected to be by the end of 2022. Quick Tour Of Our New 40,000 SF Cannabis Grow Facility

Also in August, the Company earned a five-year contract with Curaleaf Holdings Inc. for its “Sweet Virginia” grow facility in Phoenix. The agreement has 3 (three) additional five-year terms. That agreement has allowed ERBB to make staff and operational improvements and also allowed American Green to upgrade the facility with top-of-the-line Efinity LED lighting. The improvements have already started and will be complete at the end of April. The overall improvements will add an additional $1,200,000 in annual revenue bringing total annual revenue for “Sweet Virginia” to $3,200,000 - a 60% increase over today’s approximate $2,000,000 annual revenue.