Friday, January 19, 2018 2:14:16 PM
BY Marketwire - Canada
— 11:35 AM ET 01/11/2018
BURLINGTON, ONTARIO--(Marketwired - Jan. 11, 2018) - Maricann Group Inc. ( MRRCF ) (CSE:MARI.CN)("Maricann" or "The Company"), is pleased to provide investors with the following Operational Update post the closing of our recent $40MM financing.
Canadian Operations
-- Phase One construction of our state-of-the-art Langton, ON facility is currently on time and within 2% of budget. We anticipate planting to
begin in Q2 of 2018 following a Health Canada Inspection. Initial
production capacity is expected to be 22,500 kg per year.
-- The main processing area is structurally complete (90,000 sq. ft)
-- The mother, clone, and vegetation area is structurally complete (37,000sq. ft)
-- The 1.55MM litre water cistern is structurally complete
Please see link for an overhead illustration of the facility - http://bit.ly/2CPCFsZ
-- Phase Two and Phase Three construction has commenced, targeted to bring
our future capacity to 95,000 kg per year.
-- The Pilot of our retail pharmacy partnership with a leading Canadian
pharmacy operator kicks off this month. National Launch is expected to move forward in April 2018. This exclusive agreement will allow Maricann to supply patients of approx. 25% of Canada's pharmacies directly with
medicinal cannabis
German Operations - Q1
-- We anticipate to receive both a Narcotics Import and Wholesale license
by the end of March 2018
-- We expect to receive GMP certification of our Canadian operations,
permitting export to Germany of packaged dry cannabis flowers in
February 2018.
-- We expect to start distributing 25mg CBD VesiSorb capsules in February
2018.
Endexx Corporation (EDXC) Leverages Global Market Trends and Legislative Reforms to Spearhead Growth in the Cannabis and Plant-Based Wellness Sectors • EDXC • Mar 27, 2024 3:01 PM
Applied UV, Inc. Announces Pricing of $2.76 Million Registered Direct and Private Placement Priced at the Market Under Nasdaq Rules • AUVI • Mar 27, 2024 2:51 PM
POET and MultiLane Collaborate to Develop High-Speed Pluggable Transceivers for AI Networks • POET • Mar 27, 2024 10:52 AM
Maybacks Global Entertainment Opens 23 More Stations in Important Major Cities • AHRO • Mar 27, 2024 9:00 AM
NxGen Brands Inc. Forecast to Deliver 140% Growth in Q1 2024 • NXGB • Mar 27, 2024 7:30 AM
Kona Gold Beverages, Inc. Strategic Advancements: Covert LLC Introduces Federally Legal D9 Gummies and Revamps Innovative eCommerce Platform, Propelling Toward $12 Million Annual Revenue Goal • KGKG • Mar 26, 2024 8:30 AM