Business
Maricann Provides Corporate Update on Operations Including Recreational Cannabis Supply Contract
Maricann Provides Corporate Update on Operations Including Recreational Cannabis Supply Contract.
About this update from Wayland Group Corp
[{"type":"text","content":"\nTORONTO, July 05, 2018 (GLOBE NEWSWIRE) -- Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCQB:MRRCF) (“Maricann” or the “Company”) is pleased to announce that the Company has entered into a supply agreement with the Alberta Gaming, Liquor & Cannabis Commission (AGLC) to provide the Alberta market with cannabis products. \n The Company is in dialogue with several other provinces for both 2018 and 2019 and will make announcements as permitted if and when such agreements are executed. While there are no assurances that additional supply agreements will be executed, ongoing discussions with certain provinces have confirmed a high regard for the Company’s capabilities and competitiveness consistent with that of much larger industry players. Langton Facility Expansion Construction on the expansion of the Company's facility at 138 8th Concession Road, Langton, Ontario (the \"Langton Facility') is continuing to progress.  By mid-November, 2018 (subject to receipt of the applicable licenses from Health Canada), Maricann expects to be capable of producing 706kg of dried cannabis per week in Phase 1 of the expansion of its Langton Facility. By April 2019, Maricann expects to be capable of producing 2,023kg of dried cannabis per week assuming building permits, long lead items, such as HVAC equipment are delivered on time, at its Langton Facility. Germany Operations Update Maricann has completed the retrofit to 4,600 sqm (approximately 49,000 sq. ft.) of its Ebersbach facility in Germany for narcotics import and wholesale.  Site inspections by European Medicines Agency authorities are now complete, with no significant findings noted.  The Company will provide a further update if and when final approval from regulatory authorities is achieved.  This certification, if obtained, will permit Maricann to import its own and others' EMA-GMP approved products for distribution in Germany and the rest of Europe, where legal, maintaining profit margin, that in most cases totals 50% of wholesale price. Malta and VesiSorb Update As anticipated, Maricann has received confirmation from Malta Enterprise (the country's official economic development agency) in the form of a Letter of Intent, to move ahead with licensing of finished goods production facilities for medical cannabis.  Malta com...