Toronto, ON -- April 30, 2018 -- /D.M.O. Newswire/ -- Maricann Group Inc. (CSE:MARI) (OTC:MRRCF) (FRA:75M) (“Maricann” or the “Company”), is pleased to announce that the Company is now part of an exclusive group of Canadian Licensed Producers to be Good Manufacturing Practice (GMP) certified in accordance with the European Medicines Agency’s GMP standards.
GMP standards are regarded as the highest assurance of quality and safety a pharmaceutical manufacturer can receive. It is a rigorous process that Maricann initiated in Q4 of 2017 when German health inspectors visited its current Langton, Ontario facility for a thorough review of the operations. With today’s announcement, Maricann becomes only the 6th Canadian producer of medical cannabis to be awarded this distinction.
“EMA-GMP certification of our cultivation facility in Canada demonstrates further progress at Maricann. External validation of our operations provides comfort to our patients and consumers that we exceed industry standards. Our commitment to total quality, from origination to finished product is now certified,” stated Ben Ward, CEO.
This certification allows the Company to export dried cannabis flower into the rapidly growing medical cannabis markets of the EU. While governments decide how to license and regulate production within their own jurisdictions on European soil, companies with the ability to export are at a distinct advantage to capitalize in these markets where a significant shortage of product exists.
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, Canada where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada, and Dresden, Saxony, Germany. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) build out to support existing and future patient growth.
Forward Looking Information
Certain statements in this document, including, without limitation, statements with respect to our future positioning in the European cannabis market, the future designed production capacity of Maricann’ expanded facility and other subjects, contain forward-looking statements which can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “desires”, “will”, “should”, “projects”, “estimates”, “contemplates”, “anticipates”, “intends”, or any negative such as “does not believe” or other variations thereof or comparable terminology. No assurance can be given that potential future results or circumstances described in the forward-looking statements will be achieved or will occur. By their nature, these forward-looking statements, necessarily involve risks and uncertainties, including those discussed herein, that could cause actual results to significantly differ from those contemplated by these forward-looking statements. Such statements reflect the view of the Company with respect to its operations, expansion project and other future events, and are based on information currently available to the Company and on assumptions, which it considers reasonable. In the case of the Company’s expected designed production capacity for its expansion project facility, the expectations of management are based on the production results of its current facility adjusted to reflect the greater square footage of the expanded facility and on the designs and plans of the new facility and assumes it will be successfully completed, and operate as planned. Management cautions readers that the assumptions relative to the future events, several of which are beyond Management’s control, could prove to be incorrect, given that they are subject to certain risk and uncertainties, and that actual results may differ materially from those projected. Factors which could cause results or events to differ from current expectations include, among other things: fluctuations in operating results; the impact of general economic, industry and market conditions; the ability to recruit and retain qualified employees; fluctuations in cash flow; increased levels of outstanding debt and obligations under a capital lease; failure to obtain all necessary regulatory approvals; risks inherent to building and bringing into production new facilities; uncertainties with respect to estimated production capacity based on designs and plans; expectations regarding market demand for particular products and the dependence on new product development; the impact of market change; and the impact of price and product competition and other risks identified in the Company’s latest annual information form and other disclosure documents filed under its profile at www.sedar.com. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.