Denver company AmeriCann backs Illinois medical marijuana grower – The Cannabist
Published: Mar 11, 2015, 10:28 am By The Associated Press ANNA, Ill. — A medical marijuana business in far southern Illinois intends to start construction this month of a 27,000-square-foot facility that would produce a first harvest in late fall.
Wellness Group Pharms’ managing partner Paul Montes (MAHN’-tis) of Elmhurst says backing from a Denver cannabis consulting company has been crucial to his operation near Anna, Illinois. Wellness Group Pharms is one of 18 companies awarded permits to grow marijuana in Illinois.
AmeriCann of Denver will own the facility and get 25 percent of cannabis sales, plus a 20 percent royalty from the sale of cannabis extractions and infused products. AmeriCann also will get an annual consulting fee of $240,000 and $6 per square foot lease payments.
AmeriCann CEO Tim Keogh says his company was a partner before the company submitted its application.