TORONTO, Ontario, June 20, 2017 (GLOBE NEWSWIRE) — Maricann Group Inc. (CSE:MARI) (“Maricann” or the “Company”) a low cost, greenhouse producer of medical cannabis with market leading technological differentiation, is proud to announce that it has been added to the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ). The company was selected to join the cannabis industry’s premier ETF due to its continued strong performance in the competitive Canadian cannabis landscape, as well as having proven to meet the Index’s required asset and liquidity thresholds.
“Maricann Group is a growth-oriented company in an expanding and exciting sector,” said Ben Ward, CEO of Maricann. “We’re pleased to be included in the Horizon Marijuana Life Sciences Index ETF (HMMJ), giving us increased exposure to investors through the ETF’s TSX listing.”
Debuting on the Toronto Stock Exchange on April 5th, 2017, HMMJ is the first exchange-traded fund that will offer investors direct exposure to North American-listed stocks that are involved with biopharmaceuticals, medical manufacturing, distribution, bio-products, and other businesses ancillary to the marijuana industry. Maricann joins the group of 20 stocks tracked by the HMMJ ETF.
“We are confident that our inclusion will prove beneficial to both the Company and ETF alike,” said Ward. “Maricann has a fully funded expansion into Germany underway, with the infrastructure for cultivation of cannabis in an indoor secured environment already in place. Germany is our gateway into all of Europe, and as cannabis legalization continues to sweep through the continent, we will be well poised to grow our European presence.”
This milestone follows Maricann’s announcement of international expansion, after securing $42,500,000 in non-dilutive financing to further expand their operation into Germany. Maricann is slated to produce 40,000 kilograms of cannabis per year across 150,000 square feet inside their new GMP-compliant, clean-room cultivation facility in Dresden. With the potential for 820,000 square feet of clean-room cultivation in this facility, Maricann can increase production and scale capabilities in Europe’s largest market for medical cannabis.
For more information about the HMMJ ETF, including the full list of securities and the index methodology, visit the HMMJ ETF website at www.horizonsetfs.com/ETF/HMMJ.
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 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), to support existing and future patient growth. Maricann GmbH is a 95% owned subsidiary of Maricann Netherlands BV, a 100% wholly owned subsidiary of Maricann Group Inc.
- 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 24, 2017, Maricann Group, Inc. 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 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
For more information about Maricann please visit our website at www.maricann.ca
Forward Looking Information
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. This news release contains certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding the Company’s business and operations. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
CONTACT: Contact Information: Investor Relations: Shawn Alexander VP Investor Relations email@example.com 416.258.4784 Media: Robert Vanisko North 6th Agency 212-334-9753 ext.112 firstname.lastname@example.org Corporate Headquarters: Maricann Group Inc. (C.MARI) 845 Harrington Court, Unit 3 Burlington Ontario L7N 3P3 Canada