- Michigan continues to break sales records in the cannabis sector
- ACP currently operates in Michigan and California and is exploring strategies for expanding operations to two more states
- The company is focused on three business segments: real estate, acquisition and development of proprietary assets, and ongoing cultivation operations
Cannabis sales numbers for December 2021 are in, and Michigan has broken another record (https://ibn.fm/pySD7). This is the kind of news that cannabis operators in the state, including American Cannabis Partners (“ACP”), love to hear.
“Michigan closed out 2021 with another record-breaking month of adult-use marijuana sales in December, state officials say,” reported a recent “Marijuana Moment” article. “The state saw more than $135 million in recreational cannabis purchases and about $33 million in medical marijuana sales last month.
“Andrew Brisbo, executive director of the Michigan Marijuana Regulatory Agency (‘MRA’), said on Monday that the numbers ‘marked another high for the adult-use industry,’” the article continued. “The previous adult-use marijuana sales record happened in October, with about $128 million in purchases.”
Brisbo went on to note that the “new high is not because of increasing prices. . . . In fact, prices in medical and adult-use continue to drop, month over month and year over year.” The article observed that, while December set the new record for adult-use marijuana purchases, the state saw the most combined recreational and medical cannabis sales in July, with sales totaling about $171 million.
“The latest data brings Michigan’s total cannabis sales for 2021 to $1,311,951,737 for adult-use and $481,225,540 for medical marijuana. And those purchases are translating into hundreds of millions of dollars in tax revenue for the state,” the article concluded. “About $131 million is going to a cannabis excise tax fund that supports various initiatives such as infrastructure and public education, MRA spokesman David Harns said. Another $115 million will support the state general fund.”
ACP currently operates in Michigan and California. The company is also in the process of exploring land acquisition and project development strategies for expanding operations to two more states this year. With a total of 12 cannabis licenses, including 560,000 square feet of cultivation licenses in California and Michigan and one retail license in Michigan, ACP is committed to becoming a leader in the U.S. cannabis industry.
The company is focused on three business segments: real estate, acquisition and development of proprietary assets, and ongoing cultivation operations. Led by a seasoned management team with more than three decades of canna-business experience, ACP is guided by its strategy to capture opportunities in real estate and licensing in states that have recently passed cannabis legalization legislation, thereby equipping the company to capitalize on federal interstate commerce opportunities.
Through its current cultivation operations, ACP supplies approximately 80% of its whole flower products for manufacturing, distribution and retail licenses. With the remaining 20%, the company supplies its proprietary strains to select California distributors and its own Michigan retail location under its exclusive in-house brand, ZÜK.
For more information, visit the company’s website at www.ACPFarms.com.
NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://ibn.fm/ACP
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