Maricann Group Celebrates Completion of RTO and First Day of Trading
TORONTO, ONTARIO / ACCESSWIRE / April 24, 2017 / Maricann Group Inc. (CSE: MARI) ("Maricann" or the "Company"), a low cost, greenhouse producer of medical cannabis with market leading technological differentiation, will begin trading today on the Canadian Securities Exchange ("CSE") under the stock symbol "MARI".
"We have been building a very strong foundation to all aspects of our business over the last four years," said Ben Ward, CEO of Maricann. "Now, as a public company, we continue to build on that foundation in capitalizing on growth opportunities across the expanding cannabis industry."
Maricann's public listing follows a series of recent transactions and approvals. On April 18, 2017, the shareholders of Maricann Inc. ("Old Maricann"), a private company, approved its previously announced reverse takeover transaction of Danbel Ventures Inc. ("Danbel"), a public company. On April 20, 2017 the reverse takeover of Danbel by the shareholders of Old Maricann was completed and Danbel changed its name to "Maricann Group Inc." Old Maricann became a wholly owned subsidiary of the Company. On April 21, 2107 Maricann received approval to list its shares for trading on the CSE.
"Countless people worked very hard to get Maricann to this point, with our employees, shareholders, board members, senior executives and a range of suppliers putting their faith in our growth strategy," said Ben. "We are moving forward on the path to becoming one of the world's leading vertically integrated cannabis companies."
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. completes a reverse takeover of Danbel Ventures Inc. which becomes Maricann Group Inc.
April 24, 2017, first day of trading on the CSE
Maricann is a vertically integrated low cost greenhouse producer and distributor of marijuana for medical purposes. As one of approximately 43 companies with a federal licence to cultivate cannabis and one of approximately 30 independent licensed producers with a federal licence to process and distribute cannabis, Maricann services a patient base with more than 8,000 registered patients. Maricann is currently undertaking an expansion of the cultivation and support facilities to support existing and future patient growth.
To find out more about Maricann please visit our website at www.maricann.ca.
Shawn Alexander VP Investor Relations firstname.lastname@example.org
Corporate Headquarters Maricann Group Inc. 845 Harrington Court, Unit 3 Burlington Ontario L7N 3P3 Canada
Dial Toll Free in North America 1.844.MariCann (627.4226)
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.
SOURCE: Maricann Group Inc.