2020 Ends with the
Passage of Recreational Cannabis in Arizona and Across-the-Board
Improvements in Revenues and Operations for American
Green
Phoenix, AZ
-- December 8th, 2020 -- InvestorsHub NewsWire --
American
Green
(ERBB:OTC) announced today that despite
the overall crumby Covid year we've all been having, the company
has made significant progress in both overall numbers as well as in
the company's separate divisions. Company president, David Gwyther
and American Green's division heads break it down.
"Sweet
Virginia" Managed Cannabis Grow in Phoenix, AZ
Gross revenues from
the company's managed grow operation were 19% higher for
the three months ending September 30, 2020, compared to the revenue
for the same three- month period in the previous year. This
improvement resulted in a division gross profit on our
managed grow operation that was 15% higher
for the three months ending September 30, 2020, compared to the
revenues for the same three months during 2019. According to David
Gwyther, "When considering all the hoops that our Site Manager,
Bryan Croteau, had to jump through in order to stay one step ahead
of Covid, he has done an amazing job keeping all the wheels on our
cultivation cart."
According to Mr.
Croteau, "Even though Recreational Marijuana has just been voted in
by the people of Arizona, we are already seeing its expected
positive economic impact. Many dispensaries in Arizona
are buying more products than ever in anticipation of serving the
state's expected onslaught of new recreational customers arriving
in the marketplace for the first time in 2021. The recent
uptick in statewide sales has created a product shortage and, like
any supply-and-demand situation, we are seeing increased prices for
our premium quality products. We anticipate this will continue for
some time until the market stabilizes. Meanwhile, we will continue
to make tweaks and changes to further increase our yields making
our Phoenix grow space as profitable as possible," concludes Mr.
Croteau.
American
Green's Smart Vending Division
The American Green
verified vending machine division is taking a giant step
forward with an amazing new feature that will make signing into our
AGM network of smart machines much simpler. According to the
company's principal vending consultant, Lindel Creed, "It's
called LiveOp
- which
integrates a live person into American Green's 'Over 21'
verification system. We believe our system will surpass currently
accepted "over-the- counter" sales guidelines to assure that our
AGM machine customers are over 21 years of age prior to making a
purchase. Site testing for this innovative technology is scheduled
to begin early in the coming year."
American
Green's CBD Emporium
The
Company's Online Store located at www.americangreencbd.com is
growing in both momentum and repeat orders. According to Worldwide
Sales VP, Kevin Davis, "Gross revenues during our most recent
quarter were 50% higher than the same quarter in the prior year and
our cost of sales were 15% less compared to the same quarter in the
prior year because our increased sales volume has enabled the
Company to earn deeper discounts from our bulk purchases. The
company will be instituting additional national sales channels and
an innovative subscription program in the coming year."
-------------------------------------------
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Shareholders
and interest holders may also stay current with American Green
Updates:
American Green's
Main Website at
www.americangreen.com
Twitter:
@American__Green (two underscores), or
Facebook:https://www.facebook.com/americangreenusa
Instagram:
https://www.instagram.com/americangreenusa/
Instagram:
https://www.instagram.com/magicalnipton/
About
American Green, Inc.
American Green, Inc. became, in 2009, America's
second publicly-traded company in the cannabis industry. American
Green now, with its more than 50,000 certified beneficial
shareholders, is one of the largest (in shareholder count) in
the cannabis sector. American Green's mission is to lead the
cannabis and premium CBD industry. Leveraging our team of
professionals in cultivation management, manufacturing, extraction,
wholesale, retail, and community outreach, we strive to develop
sustainable initiatives in the cannabis-adjacent and CBD
industries, laser-focused on adding company and shareholder
value.
For more
information -
Contact:
American Green, Inc.
Investor Relations
2902 W. Virginia Ave
Phoenix, AZ
85009
480-443-1600 X555
investor@americangreen.com
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any
historical information contained herein, the matters discussed in
this press release contain forward-looking statements that involve
risks and uncertainties, including those described in the Company's
Securities and Exchange Commission reports and filings. Certain
statements contained in this release that are not historical facts
constitute forward-looking statements, within the meaning of the
Private Securities Litigation Reform Act of 1995, and are intended
to be covered by the safe harbors created by that Act. Reliance
should not be placed on forward-looking statements because they
involve unknown risks, uncertainties and other factors, which may
cause actual results, performance or achievements to differ
materially from those expressed or implied.
Forward-looking statements may be
identified by words
such as estimates, anticipates, projects, plans, expects, intends,
believes, be should and similar expressions and by the context in
which they are used. Such statements are based upon current
expectations of the Company and speak only as of the date made. The
Company undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date on
which they are made.