Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCMKTS:MRRCF)  (“Maricann” or “the Company”) is pleased to announce it has entered into a definitive agreement with respect to the acquisition of all outstanding shares of Haxxon AG (“Haxxon”).  The acquisition of Haxxon forms a critical element of the Company’s European expansion strategy.  When complete, the acquisition will allow Maricann to enter the Swiss market through Haxxon’s production of feminized high CBD cannabis plants.  Haxxon operates within a 6,000 sq. m. (~64,500 sq. ft.) indoor facility in Regensdorf, Switzerland, an industrial suburb of Zurich, located less than 10 minutes from the airport.

CEO Ben Ward commented: “Maricann will enhance Haxxon’s existing operations by investing 4,800,000 CHF to improve existing cultivation facilities, improving yield, then add extraction and post-processing capabilities to create finished products for inhalation as a tobacco substitute.   These products will comply with both Swiss and European law with THC below 1% for the local market, and THC below 0.2% for the broader European market.”


Chief Scientific Officer Steven Bennett, PhD. stated earlier: “Indoor cultivation of high-quality Cannabis sativa strains (hemp) allows us to optimally control the environment to express and preserve the cannabinoid and terpenoid profiles desired for inhalation, which is not easily achieved with outdoor hemp. The cultivation of high CBD strains requires attention similar to high THC strains. In both cases, the best starting materials are required to make the most effective and sought-after products.”

The transaction is scheduled to close on or about May 15th, 2018, or as soon as possible, subject to regulatory approval and the approval of the holders of the Company’s 9% secured convertible debentures holding 66 2/3% in principal amount of the outstanding debentures being obtained by no later than May 31, 2018. Haxxon is being acquired for CHF 2,000,000 in cash and CHF 6,000,000 in common shares of the Company at the 20-day VWAP ending two trading days before closing.

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 Haxxon, its future activities, including cultivation of feminized low THC cannabis plants, the transaction, the future designed production capacity of Maricann’ 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, Haxxon, Haxxon’s future activities, the transaction 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 Haxxon future activities, management has based its statements in part on current and historical activities of Haxxon and assumed its business will be successfully continued, expanded and integrated to Maricann’s business. 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: inability for Maricann to integrate Haxxon and realize the benefits of the acquisition of Haxxon, 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.

CONTACT INFORMATION

Investor Relations
Graham Farrell
Director of Investor Relations
graham@maricann.com
647-643-7665

Corporate Headquarters (Canada)
Maricann Group Inc. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
Canada
289-288-6274

European Headquarters (Germany)
Maricann GmbH
Thierschstrasse 3, 80538 Munchen, Deutschland

Source: globenewswire.com

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Aurora Cannabis Inc. (NYSE: ACB) from February 13, 2020 through September 4, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Aurora Cannabis Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

Keep reading... Show less

The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.

Keep reading... Show less

The Israeli cannabis market is picking up as a Canadian producer announced a new supply deal in the country.

Also this week it was shown the sales of Canadian cannabis edible products may be stalling, according to new data.

Keep reading... Show less

The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.

Credit Acceptance Corporation investors (NASDAQ: CACC); December 1, 2020 deadline, click here to join .

Keep reading... Show less
  • On November 19 , the Mexican Senate passed comprehensive adult-use cannabis legalization, moving Mexico towards becoming one of the few countries to legalize cannabis nationally
  • On March 31, 2020 , the Company entered into an agreement with Tecnologico de Monterrey , the leading university in Mexico , to educate physicians across Latin America , in advance of the impending regulations in Mexico
  • To date, close to 550 LatAm physicians have obtained their diploma accrediting completion of Khiron’s medical education program
  • The Company plans to deploy its ZereniaTM medical cannabis clinics and telehealth strategy in Mexico , building on the success of its vertical integration strategy in Colombia
  • Expanding the Zerenia clinic strategy will build on the Company’s Colombia knowledge and proven distribution capabilities, with rapid telehealth service adoption and over 5,600 medical cannabis scripts filled to date
  • Mexico represents one of the largest potential markets for medical cannabis in the world and is anticipated to reach $1.2bn USD by 2028 (Prohibition Partners).
  • Company to release Q3 2020 financials and host webcast on Tuesday, December 1st

Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN ), (OTCQX: KHRNF), ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe welcomes the passing of adult-use cannabis legislation by the Mexican Senate, which moves the country closer to a legalized cannabis market, and towards provision for medical cannabis products.  Khiron has had a presence in Mexico since 2018 and has been working with doctors and medical institutions to develop a deep understanding of the market.

Keep reading... Show less