ERBB - American Green purchases Cannabis Grow building for $3.75M

American Green (OTCPK:ERBB) purchased the 40K sq.foot building known as American Green’s "Cypress Chill" cannabis facility; the property is projected to yield $15M+ of annual revenue. The company had leased it in August 2021 and now it exercised its option to buy the building and now owns it. The purchase price was set at $3.75M at the time of the signing of the lease last year. Recently, the building was professionally appraised for $5.3M, giving American Green $1.55M of additional equity at the time of closure. When added to the down payment of $1.123M, there is now a total of $2.673M of equity in the new Cypress Chill cannabis grow building.

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American Green purchases Cannabis Grow building for $3.75M