Maricann Group Inc. (CSE:MARI)(CSE:MARI.CN)(CNSX:MARI) (OTCQB:MRRCF)(FRANKFURT:75M), is pleased to announce that Health Canada has granted Maricann Inc. a new licence that removes annual production limits on approved medical cannabis products in its current Langton, Ontario facility. This new licence increases capacity to 6,250,000 grams on site at any one time. This is an increase from its previous annual licence that limited production to a total of 1,282,000 grams (930kg of dried marihuana and 352 kg of cannabis oil) per year. This new license represents an increase of over 480% of production capacity and is valid until October 9, 2020. Maricann's new facility will house an additional two vaults with 30,000,000 grams of potential licensed storage capacity (15,000,000 grams each).
"This new license gives us more flexibility as we are able to increase production volume and provide more bulk storage for cannabis products, including processed resin to meet future demand," said Ben Ward, CEO of Maricann. "With the Phase 1 expansion of our state of the art Langton cultivation and production facility nearing completion and with both new vaults now poured and in place, we expect to be able to take full advantage of the scale we are creating. We maintain a highly secure growing environment that meets or exceeds requirements of the Access to Cannabis for Medical Purposes Regulations (ACMPR)."
On April 20th, 2017, Maricann Inc. became a wholly-owned subsidiary of publicly-traded company, Maricann Group Inc., as part of a reverse take-over transaction. Maricann Inc.'s licence under the Access to Cannabis for Medical Purposes Regulations (ACMPR) was re-issued by Health Canada to reflect this change in corporate status. This re-issued licence removes annual production limits for approved medical cannabis products. Maricann Inc. is now licensed to hold up to 6,250,000 grams of cannabis on site, with 3,125,000 grams of storage in each vault. Maricann currently has two vaults in operation.
This re-issued licence is one of two that Maricann has been granted by Health Canada. On September 5, 2017, Maricann announced that it had secured a second-site sales licence for its location in Burlington, Ontario through its wholly-owned subsidiary, Maricann Inc. The Burlington, Ontario sales licence is the second granted to Maricann Inc. by Health Canada, with the first applying to the Company's cultivation and production facility in Langton, Ontario.
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, Canada and Munich, Germany, with production facilities in Langton, Ontario, Canada where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 217,000 sq. ft. (20,159 sq. m) build out that will produce 22,245,000 grams of cannabis per year to support existing and future patient growth.
For more information about Maricann, please visit our website at www.maricann.ca.
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New Health Canada Licence Allows Maricann Group Inc. to Increase Cannabis Production by Over 480% to 6,250,000 grams
