Current Report Filing (8-k)
27 March 2015 - 9:02PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): March 19, 2015
AMERICANN, INC.
(Exact name of registrant as specified in its charter)
Delaware 000-54231 27-4336843
------------------------ ----------------- -----------------
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
|
3200 Brighton Blvd., Unit 144
Denver, CO 80216
(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (303) 862-9000
N/A
(Former name or former address if changed since last report)
Check appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below)
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-14(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 1.01. Entry Into a Material Definitive Agreement
On March 19, 2015 AmeriCann borrowed $650,000 from an unrelated private
investor. The loan is secured by certain assets of the company, has a six-month
term and bears interest at 14% per annum with no equity conversion rights.
The proceeds from the loan will be used for general corporate purposes and
for additional funding of the company's Illinois Medical Cannabis Center (IMMC),
a new medical cannabis production and processing facility which will be located
on a 17-acre parcel in southern Illinois. The IMCC is home to one of the 18
licensed cultivation and processing operations allowed under the newly
implemented Illinois Medical Cannabis Pilot Program. Construction of the IMMC
began in February of 2015.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under
an Off-Branch Sheet Arrangement of a Registrant
See Item 1.01 of this report.
Item 8.01 Other Events
The Company's board of directors has agreed to the creation of an Advisory
Board that will consist of individuals whom the directors believe can assist the
Company in the implementation of its business. The board also agreed to the
establishment of a stock option plan that will be used as an incentive for
present and future employees, partners, consultants and Advisory Board members.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 25, 2015
AMERICANN, INC.
By: /s/ Timothy Keogh
-------------------------------------
Timothy Keogh, Chief Executive Officer
|
Americann (PK) (USOTC:ACAN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Americann (PK) (USOTC:ACAN)
Historical Stock Chart
From Jul 2023 to Jul 2024