Early Warning Report Issued Pursuant to National Instrument 62-103 Acquisition of Shares of Maricann Group Inc.
Toronto, Ontario--(Newsfile Corp. - April 24, 2017) - This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the indirect acquisition of common shares of Maricann Group Inc. (CSE: MARI) (the "Company") by Lori Etkin.
As a result of the completion of a reverse takeover transaction on April 20, 2017, whereby Danbel Ventures Inc. ("Danbel") acquired all the issued and outstanding securities of Maricann Inc. ("Maricann") by way of a three cornered amalgamation of Maricann and Ontario Inc., a wholly-owned subsidiary of Danbel, and the shareholders of the amalgamated company received shares of Danbel (subsequently renamed "Maricann Group Inc." upon filing of Articles of Amendment dated April 20, 2017) (the "Transaction"), Lori Etkin became the owner of or exercised control over 7,627,500 common shares in the capital of the of the Company through Caneri Holdings Inc., a company owned by Ms. Etkin.
As a result, Ms. Etkin beneficially owns 7,627,500 common shares of the Company, representing approximately 10.5% of the issued and outstanding voting securities of the Company on a non-diluted basis.
Ms. Etkin acquired the shares for investment purposes only. Ms. Etkin intends to review her holdings on a continuing basis and such holdings may be increased or decreased in the future.
A copy of the Early Warning Report may be found on www.SEDAR.com.
Read more at http://www.stockhouse.com/news/press-releases/2017/04/24/early-warning-report-issued-pursuant-to-national-instrument-62-103-acquisition#jfHhdklXzCK5thQD.99