American Green Inc (OTCMKTS:ERBB) reported that the City of Phoenix gave the essential variance to permit the required allowing for the closure of its cultivation site. The preliminary variance and reason it was given were never in question; but, the work was deferred because company’s board of directors realized that a considerable change in the project management was required to properly close the grow operation.
The highlights
Certain parts of construction are underway with the rest of the work estimated to be closed by December 15, 2016 for assessment and submission for the required approvals. Quick completion is projected because construction management is taking complete benefits of organizational and pre-production mechanisms that are well-suited and within the time restrictions made available to the firm. David Gwyther of American Green said that they extremely appreciate the cooperation that they have obtained from the City of Phoenix as company worked through their necessary and vital shifts in management.
Shareholders can be certain that American Green will progress and make whatever changes are required to acclimate to their changing political environment. They have been dynamically involved in overseeing company since it ventured into the cannabis industry in 2009 when it turned to be the second publicly traded firm in the cannabis industry. The management is convinced that they will endure as one of the pioneering adult-use and medical marijuana-related firms in the country, and they will do it by familiarizing to changing times and laws.
With the BlazeNow association on full-throttle, the approval on the cultivation location build-out, and the American Green equipment being readied for customers, the firm feels it is set to have remarkable quarter in its history.
In other news, the company reported that official American Green beneficial owner shareholder number has increased to 57,640 from 54,563, a jump in 3,077 stockholders since 2015, as reported by Broadridge. The firm is thrilled by its shareholder growth in 2015 and is dedicated to grow its operating margins and revenue in a similar fashion in the imminent years during what seems to be an exceptional year for the cannabis industry.
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