AmeriCann, Inc. a company that specializes in the designing, building and financing of cannabis cultivation facilities, has provided a $1,000,000 secured loan to Nature’s Own Wellness Center, a Colorado licensed medical marijuana dispensary.

The loan proceeds are being used for the renovation of a 15,000 square foot industrial property in north Denver for the transformation of the building into a cannabis growing and processing facility.

In addition to an annual interest rate of 18% on the loan, the agreement calls for AmeriCann to receive$300,000 for consulting services over the thirty-month term of the loan.  According to the agreement, AmeriCann will receive average monthly payments of principal, interest and consulting fees in excess of $56,000.

AmeriCann will continue to provide input and direction as part of the consulting agreement that focuses on production efficiency, sustainability, and the best environmental practices.

SOURCE: bizjournals