Maricann Group Inc. (CSE:MARI; FWB:75M; OTCQB:MRRCF) is a Canadian licensed cannabis producer that has experienced rapid expansion and diversification as Canada heads towards the opening of its recreational market.
Maricann Group Inc. (CSE:MARI; FWB:75M; OTCQB:MRRCF) is a Canadian licensed cannabis producer that has experienced rapid expansion and diversification as Canada heads towards the opening of its recreational market. In a recent article aimed at investors, Invictus News discussed Maricann’s position in Canada’s cannabis industry, which is slated to become a $22.6 billion market within the next few years as licensed producers continue to develop their production capacity.
The article also provided insight into Maricann’s licensed Langton facility, which is already under construction. The facility covers 217,000 square feet of cultivation and production environments and will have an annual capacity of 36,000 kilograms of cannabis, approximately $180 million in annual revenue. In partnership with Rockwell Automation, Maricann has designed an automated approach to cannabis cultivation, which reduces labour requirements and improves ergonomics. The second phase of construction would add a further 635,000 square feet of grow space, raising annual production capacity to 95,000 kilograms in 2019.
Invictus News also highlighted the company’s work in establishing distribution agreements with the regulatory bodies in Canadian provinces. In Ontario, Maricann has been selected by the Ontario Cannabis Store as a supplier for its on-line store launching in October 2018. Maricann has also entered into supply agreements with Alberta and Manitoba, where it will be supplying up to 3,375 kilograms to the AGLC within the first six months and at least 550 kilograms of various cannabis products to the MBLL. Lastly, in British Columbia, Maricann has signed a memorandum of understanding with the BCLDB to initially supply around 3,622 kilograms of non-medical cannabis.
The company profile is further substantiated by information on how they are developing their global footprint with operations in Germany, Malta and Switzerland; the support from established financial institutions; and the strong management team leading Maricann towards success within a growing cannabis industry.
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