Maricann Group Inc. (CSE:MARI; FWB:75M; OTCQB:MRRCF) (“Maricann” or the “Company) is providing an update to the market regarding their recently announced letter of intent to acquire a license in Malta.

Following discussions with Malta Enterprise, the government entity responsible for the issuance of such licenses, the Company has submitted its own application for a license and has terminated its letter of intent to acquire Medican Holdings (“Medican”).


Initially, Medican had received initial approval and Maricann received confirmation of the same. Malta Enterprise then contacted Maricann to request the Company make its own application, as their preference was to work through Maricann rather than Medican. The Company then submitted its own application to Malta Enterprise who have acknowledged receipt. Maricann anticipates the application to be reviewed within the next 30 days with a decision on the approval status.

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. Such statements include statements regarding the timing and ability to obtain a license in Malta. 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

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

Click here to connect with Maricann Group Inc. (CSE:MARI; FWB:75M; OTCQB:MRRCF) for an Investor Presentation.

Source: globenewswire.com

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