PHOENIX, AZ, Oct. 23, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Today American Green (ERBB:OTC) announces that it will be holding its annual meeting in December. The record date for the determination of shareholders entitled to vote at the meeting will be October 26, 2018 and the vote will be held on or about December 19, 2018. The Company intends to begin circulating a Proxy Statement to shareholders during the first week of November.
American Green’s Board of Directors will be asking the shareholders to vote on several issues including a restatement of our Articles of Incorporation, granting the Directors the power to distribute a portion of the shares of CannAwake Corporation stock held by the Company to our shareholders as a dividend, and the appointment of an auditor, among other housekeeping items.
Semple, Marchal & Cooper, LLP (“SMC”) have been selected as our independent auditors. Upon confirmation by the stockholders, and final acceptance by SMC, SMC will commence an audit of American Green, in accordance with the standards of the PCAOB. Thereafter, American Green intends to file a Reg A+ to raise capital for working capital and expansion of our other businesses, including, but not limited to expanding into other legal cannabis facilities nationwide.
In other news, the cultivation site that the company financed and built at the direction of licensee Natural Herbal Remedies, commenced cultivation on July 23, 2018 and is currently harvesting and curing product and expects to begin receiving revenue from sales in the next few weeks. Per our agreement to finance and manage the facility for Natural Herbal Remedies, American Green will begin to receive management payments concurrently.
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, be should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
About American Green, Inc.
American Green, Inc., became, in 2009, one of the first publicly traded technology companies in the cannabis industry. Now, with over 50,000 certified, individual shareholders, more than any other company in the cannabis sector, American Green's mission is to lead the cannabis industry. Leveraging our team of professionals in cultivation, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable initiatives, while increasing shareholder value and company profit.