TORONTO, July 17, 2018 (GLOBE NEWSWIRE) -- Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCQB:MRRCF) (“Maricann”
or the “Company) is pleased to announce that Malta Enterprise (the country's official economic development agency and the
government entity responsible for licenses) has approved Maricann's application to set up a business in Malta to manufacture
finished dose medical cannabis.
This license allows Maricann to supply its Maltese operation with raw materials that will then undergo advanced post processing
to create pure cannabis distillates, allowing for true pharmaceutical manufacturing. Commercial production of distillates is
integral for the Company, as it advances the timeline for delivery of its full suite of products to those European markets where
such products are legal.
“Maricann continues its path of organic growth and value acquisitions throughout the European Union, accessing key markets for
differentiated products through Malta,” commented Ben Ward, CEO. “We will continue to implement our template for success
across Europe, as we expand from operations in Germany, Switzerland and Malta to new markets. We’ve seen parabolic growth in
new markets over the past two years, and will expect to continue to see new markets open.”
The Company has received an initial allocation of 2,750 square metres of industrial space. The approval in Malta is
conditional on a number of items including (i) operation of the business in compliance with applicable laws, (ii) compliance with
certain reporting requirements, (iii) the Company's Malta subsidiary reaching an employment level of at least 28 full-time
equivalent employees within three years from the start of operations, (iv) the Company's Malta subsidiary investing at least €9.5
million in improvements to the site, plant, machinery and equipment within three years from the allocation of the applicable site
and (v) the Company obtaining a licence from the Medicines Authority.
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 Burlington, Ontario, Canada and Munich, Germany, with production facilities in Langton, Ontario where it operates a
medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of
Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland. Maricann is currently
undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) and will continue
to pursue new opportunities in Europe.
Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information
and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans,
intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the proposed
commercial production of pure cannabis distillates and the Company's planned implementation of its business plan in Europe.
Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and
other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from
future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein.
Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of
assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that
any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their
own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and
statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by
applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information
and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward
looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except
as required by applicable laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news
release.
For more information about Maricann, please visit our website at www.maricann.com
CONTACT INFORMATION
Investor Relations
Graham Farrell
Director of Investor Relations
graham@maricann.com
647-643-7665
Corporate Headquarters (Canada)
Maricann Group Inc. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
Canada
289-288-6274
European Headquarters (Germany)
Maricann GmbH
Thierschstrasse 3, 80538 Munchen, Deutschland
