Maricann Announces Operational Update
January 11th, 2018
Maricann Group Inc. (CSE:MARI)(CSE:MARI.CN)(CNSX:MARI) (“Maricann” or “The Company”), is pleased to provide investors with the following Operational Update post the closing of our recent $40MM financing.
Phase One construction of our state-of-the-art Langton, ON facility is currently on time and within 2% of budget. We anticipate planting to begin in Q2 of 2018 following a Health Canada Inspection. Initial production capacity is expected to be 22,500 kg per year.
The main processing area is structurally complete (90,000 sq. ft)
The mother, clone, and vegetation area is structurally complete (37,000 sq. ft)
The 1.55MM litre water cistern is structurally complete
Please see link for an overhead illustration of the facility – http://bit.ly/2CPCFsZ
Phase Two and Phase Three construction has commenced, targeted to bring our future capacity to 95,000 kg per year.
The Pilot of our retail pharmacy partnership with a leading Canadian pharmacy operator kicks off this month. National Launch is expected to move forward in April 2018. This exclusive agreement will allow Maricann to supply patients of ~25% of Canada’s pharmacies directly with medicinal cannabis
German Operations – Q1
We anticipate to receive both a Narcotics Import and Wholesale license by the end of March 2018
We expect to receive GMP certification of our Canadian operations, permitting export to Germany of packaged dry cannabis flowers in February 2018.
We expect to start distributing 25mg CBD VesiSorb capsules in February 2018.
Please visit our website for an updated presentation – www.maricann.com
About Maricann Group Inc.
Maricann is a vertically integrated producer and distributor of marijuana for medical purposes. The company was founded in 2013 and is based in Toronto, Canada and Munich, Germany, with production facilities in Langton, Ontario, Canada where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. and Dresden, Saxony, Germany. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 847,000 sq. ft. (78,688 sq. m) build out, capable of producing 95,000 kg of dry cannabis flower per year to support existing and future patient growth.
For more information about Maricann, please visit our website at www.maricann.ca.
Forward Looking Information
Certain statements in this document contain forward-looking statements which can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “desires”, “will”, “should”, “projects”, “estimates”, “contemplates”, “anticipates”, “intends”, or any negative such as “does not believe” or other variations thereof or comparable terminology. No assurance can be given that potential future results, events or circumstances described in the forward-looking statements will be achieved or will occur on a timely basis or at all. By their nature, these forward-looking statements, necessarily involve risks and uncertainties, including those discussed herein, that could cause actual results, events or circumstances to significantly differ from those contemplated by these forward-looking statements. Such statements reflect the view of the Company with respect to future results, events or circumstances, and are based on information currently available to the Company and on assumptions, which it considers reasonable. Management cautions readers that the assumptions relative to the future results, events or circumstances, several of which are beyond Management’s control, could prove to be incorrect, given that they are subject to certain risks and uncertainties, and that actual results may differ materially from those projected. Factors which could cause results or events or circumstances to differ from current expectations include, among other things: construction delays, weather issues, delays in getting required permits, fluctuations in operating results; the impact of general economic, industry and market conditions; the ability to recruit and retain qualified employees; fluctuations in cash flow; increased levels of outstanding debt and obligations under a capital lease; expectations regarding market demand for particular products and the dependence on new product development; the impact of market change; and the impact of price and product competition. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
Follow Us on Social Media
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
CannabisFN.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. CannabisFN.com received fees for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.
Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.