TORONTO, April 16, 2018 (GLOBE NEWSWIRE) — Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCMKTS:MRRCF) (“Maricann” or “the Company”), is pleased to announce that on Friday April13th, 2018, its wholly owned subsidiary, Maricann Inc. received an export permit from Health Canada for a shipment of dried cannabis flower to Germany. This is the first export permit that Maricann has received.
Ben Ward, CEO Stated, “This export permit marks another milestone in the Company’s history and an important first, as we continue to build our Company, globally. Our team of regulatory experts, led by VP of Regulatory Affairs, Dr. Alexandre Sibilev in Canada, continues to add value for Maricann shareholders through this and previous successes, demonstrating a solid track record in moving through regulatory processes. Our team has expert insight, understanding, and expertise in maintaining our existing licenses, whilst progressing in new geographies with their track record of applied expertise. Export of cannabis from Canada is an important pillar of our near-term strategy, combined with eventual in country production in new geographies, where and when permitted.”
The Company is established in Germany, with operations for its two 95% owned subsidiaries, Maricann GmbH (THC cannabis) and Mariplant GmbH (non-THC cannabis) centred at its campus in Ebersbach, Germany (between Leipzig and Dresden). The Company is represented in both Maricann and Mariplant by full time established professionals in the pharmaceutical production and agricultural sectors, respectively.
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, 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 942,000 sq. ft. (87,515 sq. m) build out, with a designed expected capacity of producing 95,000 kg (based on conservative estimates) 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.com
Forward Looking Information
Certain statements in this document, including, without limitation, statements with respect to the future designed production capacity of Maricann’s expanded facility and other subjects, 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 or circumstances described in the forward-looking statements will be achieved or will occur. By their nature, these forward-looking statements, necessarily involve risks and uncertainties, including those discussed herein, that could cause actual results to significantly differ from those contemplated by these forward-looking statements. Such statements reflect the view of the Company with respect to its operations, expansion project and other future events, and are based on information currently available to the Company and on assumptions, which it considers reasonable. In the case of the Company’s expected designed production capacity for its expansion project facility, the expectations of management are based on the designs and plans of the new facility and assumes it will be successfully completed, licensed and operate as planned. Management cautions readers that the assumptions relative to the future events, several of which are beyond Management’s control, could prove to be incorrect, given that they are subject to certain risk and uncertainties, and that actual results may differ materially from those projected. Factors which could cause results or events to differ from current expectations include, among other things: 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; failure to obtain all necessary regulatory approvals; risks inherent to building and bringing into production new facilities; uncertainties with respect to estimated production capacity based on designs and plans; 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 and other risks identified in the Company’s latest annual information form and other disclosure documents filed under its profile at www.sedar.com. 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.
Director of Investor Relations
Corporate Headquarters (Canada)
Maricann Group Inc. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3