Maricann Group Inc.

Maricann Group Inc.

August 04, 2017 17:00 ET

Maricann Group Inc. Transitions Financial Management Team

TORONTO, ONTARIO--(Marketwired - Aug. 4, 2017) - Neil Tabatznik, Chairman and Director of the Board of Maricann Group Inc., (CSE:MARI)(CSE:MARI.CN)(CNSX:MARI) ("Maricann" or the "Company"), a low-cost, greenhouse producer of medical cannabis with market leading technological differentiation, today announced that the Company has appointed Ben Ward, CEO of Maricann, as the Company's acting Chief Financial Officer ("CFO") on an interim basis. The Company has engaged third party resources to assist during this time.

Ward replaces Jeremy Blumer as CFO of Maricann, who left the Company to pursue other interests.

"On behalf of the Company, I want to thank Jeremy for his work and wish him success in his future endeavours," said Ward. "Maricann is continuing to evolve as a company and we look forward to announcing exciting developments in the near future."

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 with a facility in Langton, Ontario, where it operates a medicinal cannabis cultivation, extraction and distribution business under federal licence from the Government of Canada. Maricann, which has federal licences to cultivate, process and distribute cannabis, services a patient base with more than 8,000 total registered patients since inception. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a fully funded 217,000 sq. ft. (20,159 sq. m) build out, to support existing and future patient growth.

For more information about Maricann please visit our website at

Maricann Milestones

  • April 2013, Maricann Inc. is founded in Langton, Ontario, a well-established agricultural region in southwestern Ontario
  • March 2014, Maricann Inc. obtains its Health Canada licence to cultivate plants
  • December 2014, Maricann Inc. obtains its Health Canada licence to sell dried cannabis
  • January 2015, first dried cannabis sale
  • September 2016, Maricann Inc. earns its Health Canada licence to sell cannabis extracts
  • October 2016, first sale of extracted cannabis
  • December 2016, Maricann Inc. raises $22.5 million in private capital
  • January 2017, commences sale of clones
  • February 2017, Maricann Inc. raises $10 million in private capital
  • April 20, 2017, Maricann Inc. changes name to Maricann Group Inc.
  • April 24, 2017, Maricann Group Inc.'s first day of trading on the CSE
  • April 28, 2017, announces Advisory Board of German subsidiary
  • May 4, 2017, Maricann Group Inc. secures $42,500,000 non-dilutive debt-free financing for further German expansion
  • May 24, 2017, breaks ground on expansion of cultivation facility in Langton, Ontario
  • June 12, 2017, Maricann Group Inc. listed on HMMJ ETF
  • June 16, 2017, Maricann Group Inc. added to the CSE Composite Index
  • Aug. 1, 2017, Maricann Group Inc. announces appointment of Gerhard Müller to Board of Directors

Forward Looking Information

Certain statements in this document 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 future events, and are based on information currently available to the Company and on assumptions, which it considers reasonable. 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: 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; 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. 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. The reader is cautioned not to place undue reliance on forward-looking information.

Contact Information

  • Investor Relations:
    Shawn Alexander
    VP Investor Relations

    Carrie Booze
    North 6th Agency
    212-334-9753 ext. 142

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

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