TORONTO, July 11, 2018 (GLOBE NEWSWIRE) — Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCQB:MRRCF) (“Maricann” or the “Company”) is pleased to announce that it has been selected by the BC Liquor Distribution Branch (“BCLDB”) to enter into a memorandum of understanding (“MOU”) as a preferred licensed producer to initially supply approximately 3,621,900g (~3,622kg) of non-medical cannabis to BCLDB over the first 12 months following legalization.
- Maricann has been selected to supply adult-use recreational cannabis to the British Columbia market.
- The Company agrees to allocate a minimum of 3,621,900 grams per year to the BCLDB.
- Maricann now has confirmed recreational cannabis allocations for Manitoba, Alberta, and British Columbia totaling an annualized volume of 10,923,100g (~10,923kg)
“Maricann is excited to enter into this MOU with BCLDB, and we are proud to work with them as a partner in this exciting launch phase,” said Geoff Kosar, Vice President Sales & Marketing, Maricann Group Inc.
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 Burlington, Ontario, Canada and Munich, Germany, with production facilities in Langton, Ontario where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) and will continue to pursue new opportunities in Europe.
Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such forward looking statements include statements regarding the amount of non-medical cannabis to be supplied to BCLDB and the entering into of a binding purchase agreement with BCLDB to evidence the understanding set forth in the MOU. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
For more information about Maricann, please visit our website at www.maricann.com
Director of Investor Relations
Corporate Headquarters (Canada)
Maricann Group Inc. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
European Headquarters (Germany)
Thierschstrasse 3, 80538 Munchen, Deutschland