American Cannabis Company Inc (OTCMKTS:AMMJ)(ACC) has recently signed a new Pennsylvania-based client who will apply for the next medical cannabis program in the state.
New Revenue Stream
With Pennsylvania being the sixth biggest state in the US in terms of population, the company expects the deal to pave way to a new revenue stream, generating revenues from consulting contracts, and sales of ancillary products and services.
“Our new client operates with the business acumen and a track record of success from within other sectors, and this experience will be key for them in the effort to realize their goal of operating within Pennsylvania’s new medical marijuana program,” emphasized Corey Hollister, ACC CEO and President.
Atlantic Marijuana Production Facility
Last month, ACC has also entered into a new design and consulting agreement with a Canada-based company to build a licensed cannabis production plant within the Atlantic provinces.
The multi-phased construction will begin with an indoor facility. Meanwhile, operations will begin with the growth of an alternative harvest and gradually shift to cannabis production as soon as the license is approved. ACC hopes to expand the facility in the future by developing green houses.
The company acknowledges the fast-paced growth of the marijuana industry in Canada, which is why as early as now, it plans to take advantage of the progress by slowly penetrating the Canadian cannabis market. With this initiative, Hollister believes that ACC can truly leverage the increasing cannabis demand in Canada.
SoHum Living Soils Sales
In September, ACC has reported the third quarter and year-to-date (YTD) sales of SoHum Living Soils. YTD, SoHum Living Soils sales had come in at more than $53,000.
SoHum Living Soils, a proprietary growing medium that boasts with convenience by simply adding water to it, is one of the company’s best-selling products. It is made of 100% organic ingredients to provide plants all the nutrients they need. Moreover, it does not just enhance plant growth; it also reduces the need for complicated feeding schedules to maintain the plants. Needless to say, it is one of the reasons behind the emerging success of ACC.
On Friday, ACC has closed at $0.96.