Maricann Announces Operational UpdateBURLINGTON, ONTARIO–(Marketwired – Jan. 11, 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
- 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
- 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.
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.