AmeriCann Inc (OTCMKTS:ACAN) Is Today's Cannabis Focus

AmeriCann Inc (OTCMKTS:ACAN) is running up the charts again as investors get excited for one of America's largest medical marijuana facilities being constructed in Massachusetts. As investors keep getting more and more updates on the facility's progress, shares have exploded off the $1 support level and look set to challenge the 52 week highs just above $3. Judging by the volume and price action, a breakout looks to be in the cards for ACAN.First up, a little background on the company. AmeriCann is a publicly traded company that plans to develop and lease sustainable, state-of-the-art medical cannabis cultivation properties. The Company has over 1,000,000 square feet of facilities in the planning and design stages of development. The Company has also designed a proprietary line of cannabis infused products which will be branded and licensed to companies in regulated markets.What got the stock moving last week was the news that AmeriCann had hired Campanelli Construction as the General Contractor for the Massachusetts Medical Cannabis Center. Those in the Boston area know that Campanelli is a well-known general contractor. The company is a third generation, full-service commercial real estate development and acquisition company with over six decades of experience having developed, built and acquired over 22 million square feet of property.AmeriCann plans to develop the property as the Massachusetts Medical Cannabis Center, one of the largest and most technologically advanced cannabis cultivation facilities in the nation. Designs for the MMCC include the construction of sustainable greenhouse cultivation, processing, and infused product facilities that will be leased or sold to Registered Marijuana Dispensaries under the Massachusetts Medical Marijuana Program. AmeriCann's Cannopy System uniquely combines expertise from traditional horticulture, lean manufacturing, regulatory compliance and cannabis cultivation to create superior facilities and procedures.AmeriCann acquired the rights to the 53-acre property in Freetown earlier this year from Boston Beer Company (NYSE:SAM) for $4,475,000. The sustainable greenhouse project will consist of multiple planned phases; the first phase will include two buildings at 130,000 and 30,000 square feet, respectively. Future phases are permitted for an additional 800,000+ square feet based on market demand. AmeriCann plans to break ground on the first phase in the first quarter of 2017 and AmeriCann's Preferred Partners will have cannabis in production on the property by fall of 2017.The Green Rush is on in Massachusetts after voters approved a ballot measure on November 8, that will make it the first state in the eastern U.S. to legalize the recreational use of marijuana. On December 15, the ballot initiative became law and recreational marijuana is now legal in Massachusetts. The benefits to the state and the local community make Massachusetts a model for other states to pass future recreational marijuana legislation. When fully developed, the MMCC is projected to create over 300 jobs with an annual projected payroll of over $14 million to the local community. Furthermore, according to industry experts, the combined market for both the medical and new adult program in Massachusetts could exceed $1.8 billion annually.The town of Freetown has been wholly supportive of AmeriCann with its efforts. On November 28th, the Board of Selectmen unanimously approved the Host Community Agreement for AmeriCann's MMCC project. The Massachusetts Medical-Use of Marijuana Program requires operators to secure letters of support or non-opposition from the host communities. As the developer of the project, AmeriCann obtained the Host Community Agreement, which streamlines the application process and creates a competitive advantage for tenants at the MMCC.Currently trading with a market cap of $38 million, ACAN has secured $2 million in equity financing that will be utilized in part for the Company's Massachusetts Medical Cannabis Center development and to pursue new opportunities in California, Pennsylvania, Florida and other states. With having first-mover advantage over its competitors in Massachusetts, permitting in place, $2 million, and a 1 million square foot facility about to go into construction, ACAN looks set to be a major player in the $1.8 billion Massachusetts' cannabis market. This makes ACAN a must-own stock for cannabis investors. We will be updating our subscribers as soon as we know more. For the latest updates on ACAN, sign up below!Disclosure: We have no position in ACAN and have not been compensated for this article.