---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-014931"
form_type: "8-K"
ticker: null
cik: "0001508348"
company_name: "AmeriCann, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T17:51:04.364877+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# AmeriCann terminates BASK lease early; will operate cannabis facility itself

## Summary
- Mutual lease termination on Aug 31, 2024; BASK pays $57,587.78/month for remaining 5 months.
- BASK to transfer provisional cultivation and manufacturing licenses for $80,000 credit pending CCC approval.
- Outstanding balance of $623,244 plus $369,869 promissory note consolidated into non-interest note over 24 months.
- AmeriCann will operate the facility as a regulated cannabis cultivator and manufacturer post-termination.

## SEC filing metadata
- accession: 0001437749-24-014931
- form_type: 8-K
- cik: 0001508348
- company_name: AmeriCann, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1508348/000143774924014931/0001437749-24-014931-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1508348/000143774924014931/acan20240506_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-014931
- JSON: https://secwatch.observer/filing/0001437749-24-014931.json
- Plain text: https://secwatch.observer/filing/0001437749-24-014931.txt

## Key facts
- Material Agreements
  AmeriCann, Inc. terminated a lease with BASK, Inc. (effective 2024-05-03).
  - Action: termination
  - Agreement: lease
  - Counterparty: BASK, Inc.
  - Effective: 2024-05-03
  source text: ☐ 1 ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT On July 26, 2019, the Company entered into a 15-Year Triple Net lease of Building 1 of the Massachusetts Cannabis Center with BASK, Inc. The lease commenced on September 1, 2019 and included a monthly base rent of $11,563.50 and a revenue participation fee equivalent to 15% of BASK’s gross revenues derived from products produced in the building.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1508348/000143774924014931/0001437749-24-014931-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.