PHOENIX, Ariz. – Following the passage of Arizona’s Proposition 207, which legalizes recreational cannabis in its home state, American Green announced a “strategic overview” for its shareholders. American Green, which markets cannabis products and vending machines, said it is developing plans to expand grow operations by 300%.
Prop 207, also known as the Smart and Safe Act, was a voter initiative that appeared on Arizona’s November 2020 ballot. Passing with an estimated 60% of the vote, the proposition allows the legalization and taxation of recreational cannabis for adult use. Along with Montana, New Jersey and South Dakota, Arizona is one of four states that legalized recreational marijuana through ballot measures in 2020.
American Green said it has identified several possible cultivation sites and is “aggressively pursuing” new opportunities in Arizona's budding recreational cannabis market. Prop 207 enables the company to provide licensed retailers with cannabis products, which could then made available to future recreational cannabis customers in addition to Arizona’s existing medical-use dispensaries.
Separately, American Green announced that it had achieved an operational breakeven in its first quarter of 2020.
Additionally, the company said 2020 was a strong year for its vending division, which added enhanced features its AGM (American Green Machine). The company's vending consultant, Lindel Creed, said, "It's called LiveOp, which integrates a live person into American Green's 'Over 21' verification system. We believe our system will surpass currently accepted over-the- counter sales guidelines to assure that our AGM customers are over 21 years of age prior to making a vending purchase for Cannabis, liquor and CBD.”
