Maricann Group Advances Legal Cannabis Initiatives
As cannabis acceptance becomes a global phenomena, the growth of a massive industry will follow. In the years to come, we’ll likely see the rise of a global cannabis market but few companies are positioned with resources or bandwidth to take advantage of the future opportunities. Maricann Group (MARI.CN) (OTC: MRRCF) , a cannabis producer and distributor from Ontario, Canada, have begun planting seeds in various locations around the world with the future in mind. Continuing global expansion, Maricann entered into a supply agreement with Manitoba Liquor and Lotteries Committee, as well as took first steps to acquire a license in Malta.
Maricann is among the large-scale greenhouse operations in Canada, expecting a significant reduction in its cost of goods sold per gram due to their expanding scale. The Langton facility is expanding in a multi-phase project: The first stage, which includes 217,000 square feet of space and an annual capacity of 36,000 kilograms, is expected to finish in November 2018. Construction on an additional 635,000 square feet of cultivation space is set to begin in the second phase, which will increase annual capacity up to 105,000 kilograms. This phase is slated for completion in April 2019. By then, the company expects to have production capabilities of 2,023 kilograms of dried cannabis per week. The company, which has a primary focus on medicinal endeavors—does also plan to approach the lucrative and rapidly growing recreational cannabis market. They have reserved product inventory for this purpose, set for release in mid-October.
Courtesy of Maricann
Founded in 2013, Maricann is laser-focused on being a low-cost, high-efficiency cannabis production and distribution company. Environmental responsibility is a built-in feature of their business plan, evidenced with the natural gas well and cogeneration facility on site, they ensure all waste water is recycled through a bio-pond, they harness solar power for its crops and they use carbon dioxide emissions to heat water and accelerate crop growth. For these efforts, Maricann was awarded and received Good Manufacturing Practice (GMP) certification for its Canadian operations—making it only one of five such companies in the world to have this distinction.
The company has expanded beyond Canada. On April 13 of this year, Maricann acquired Haxxon AG, a 64,500 square-foot indoor cultivation facility in Regensdorf, Switzerland, an industrial suburb of Zurich. According to Ben Ward, Maricann’s CEO, the Canadian company plans to invest a total of 4,800,000 CHF to improve the cultivation facility, yield, and add extraction and post-processing capabilities to create finished products for inhalation as tobacco substitutes. The products will comply with Swiss and European laws by ensuring that THC levels stay below 1 percent for the local market, and THC below 0.2 percent for the broader European market. Haxxon AG provides entry into the Swiss market and extends its European reach. This year’s second quarter also saw the company planting its first seeds for its outdoor hemp operations, a crop that will provide raw materials for its Germany-based nutraceutical business, MariPlant.
Courtesy of Maricann
Maricann planted their first seeds in Germany on a 405-acre farm in Saxon, Germany on April 18th. This operation will focus on producing cannabis flowers that are rich in CBD, CBN, and CBG. The plan is to produce products for distribution as food supplements across Germany and the greater European Union. Terpenoids and Flavonoids from Maricann’s Haxxon cultivation and extraction operation from feminized cannabis will be added to improve efficacy, too.
Along with distribution capabilities in Germany, Switzerland, and Canada, Maricann has also entered into a non-binding term sheet to form a strategic joint venture with San Martino S.S., a large-scale agricultural company in the Piedmont Region of Italy. The goal on this union is to develop a center of excellence for cannabis products, in conjunction with the University of Eastern Piedmont, initially producing high CBD content for the medical market, and then ultimately THC products for the European market.
The company has been hard at work solidifying its place in the future global cannabis market. The best way to keep up with the company is by following their updates on Twitter @MaricannInc, or their website Maricann.com. If you follow the stock market, you can also follow them on the financial market: CSE:MARI; FRANKFURT:75M; OTCMKTS:MRRCF .
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