Maricann Group Inc. (CSE:MARI; FWB:75M; OTCQB:MRRCF) (“Maricann” or the “Company”) wishes to make the following statements regarding recent market activity in its common shares traded on the OTCQB marketplace.
The Company became aware of certain promotional activity on its securities on September 4, 2018 upon receipt of correspondence from OTC Markets specifically related to certain promotional literature encouraging investors to purchase the Company’s common shares and making certain statements regarding the potential returns on such investment, including certain promotional newsletter emails. Until being informed by OTC Markets of the promotional material, the Company was unaware of the promotional activity and remains unaware of the full nature of the promotional activity and the extent of the dissemination. It is difficult to determine whether the promotional materials resulted in any increased trading activity in the Company’s common shares but the Company believes that recent increases in its share price and trading volume are industry specific as the cannabis sector and the Company’s direct competitors have generally seen an increase in trading activity over the past week.
Upon reviewing the content of the material, it appears that certain of the statements and claims made were taken from the Company’s website, historical press releases and other public documents, but the Company had no editorial control over the content of the material. Furthermore, there are statements made which encourage investors to purchase the common shares of the Company, which only express the view of the authors and the Company disclaims any potentially exaggerated or misleading statements contained in the material. In addition, the Company has determined that certain statements included in these publications related to the Company and its business might be read as misleading and/or incomplete and readers should not place undue reliance on these newsletters or websites. Specifically, the Company does not condone the use of sensational language to describe the Company’s business prospects or the growth potential of the Company’s industry. The Company does not condone any statements made regarding the urgency of investing in the Company’s common shares or any other similar statements. Finally, the Company notes that investing in the Company’s securities involves certain risks and uncertainties which investors should review prior to making any investment decision. The Company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with Canadian securities regulators, available at www.sedar.com and as posted on the filings and disclosure page for MRRCF on the OTC Markets website at www.otcmarkets.com.
The Company routinely responds to inquiries from shareholders, potential investors, and investment analysts, and generates its own Company marketing materials. The Company paid a media service, Tycona Media, to place banner advertisements on high traffic websites for the cannabis industry, complete with images of one employee and the Company’s historic greenhouse operations. These media slots were purchased and booked one month in advance. However, to the Company’s knowledge, after due inquiry of management, neither the Company, nor any of its officers, directors, controlling shareholders or any third-party service providers have directly been involved with the creation or distribution of promotional newsletter emails or websites that make exaggerated or misleading claims related to the Company and its securities.
After due inquiry of the Company’s officers, directors, controlling shareholders and third party service providers, except for two officers that engaged in a securities lending arrangement (see press release dated August 10, 2018), neither the Company, nor any of its officers, directors, and to the knowledge of the Company, any controlling shareholders or third party service providers have sold or purchased the Company’s securities within the past 90 days. Such transactions were in accordance with the Company’s insider trading policy and were reported with the System for Electronic Disclosure (www.SEDI.ca).
Since September 1, 2017 the Company has engaged MJM Markets and Consulting (Toronto, Canada; Follow The Money Investor Group, o/a 2632436 Ontario Limited (Toronto, Canada); Harbor Access LLC (NY, USA); Investing News Network; M. Davis & Associates Capital Inc (Vancouver, Canada); ERPR AS (Oslo, Norway); BlackX GmbH (Germany); Tycona Media (Vancouver, Canada); DiePRBerator (Germany); and Prosdocimi (London, UK) at various times to provide investor relations services, public relations services, marketing, native advertising or other related services including the promotion of the Company, its business and/or its securities.
The Company has not issued any convertible debt or equity instruments that allow conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
For further information about Maricann Group Inc., please visit www.maricann.com or view the Company’s filings at www.sedar.com.
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. 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