American Green, Inc. (OTC Pink: ERBB) is engaged as a cannabis and CBD company. Specifically, the company focuses on the cultivation, manufacturing, extraction, wholesale, and retail of cannabis. Shares of the cannabis company are rallying 8% through early trading on Wednesday, August 25, 2021. Over the past thirty days, American Green has seen average daily volume of 24.81 million shares. However, volume of 152.06 million shares or dollar volume of $790,712, has already exchanged hands through early trading on Wednesday.
Shares of the cannabis and CBD company are gaining after the company announced it has entered into a new, five-year cultivation management services agreement with Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA), an international cannabis consumer packaged goods company. The cultivation management agreement specifically pertains to Curaleaf’s two facilities in Arizona. This latest agreement marks an extension between the collaboration of American Green and Curaleaf.
American Green management says the agreement will provide the company with annual revenues of approximately $2.1 million. Over the life of the five-year agreement, American Green anticipated cumulative revenue from the deal to reach $10.4 million. The company says its premium cannabis will be used in a variety of Curaleaf and Select products, including their popular live resin offerings.
David G. Gwyther, American Green’s president said “We are proud to extend our relationship with Curaleaf Holdings, Inc. for five years. There is also an opportunity for American Green to continue the agreement for three additional five-year periods after our initial five-year term is up. We will continue to provide our premium cannabis grown at our “Sweet Virginia” grow and provide the quality customer service that Curaleaf has been accustomed to so we can earn those future agreement extensions.”
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