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Maricann Announces Receipt for Amended & Restated Preliminary Prospectus for the Qualification of Units Underlying Special Warrants
TORONTO, March 06, 2018 (GLOBE NEWSWIRE) — Maricann Group Inc. (CSE:MARI) (OTCQB:MRRCF) (FRANKFURT:75M), “Maricann” or the “Company”) is pleased to announce that it has obtained a receipt for an amended & restated preliminary short form prospectus (the “Prospectus”) filed in each of the Provinces of Ontario, British Columbia, Alberta, Saskatchewan and New Brunswick (the “Qualifying Jurisdictions”) in connection with the qualification of 21,131,250 common shares and 10,565,625 warrants issuable upon deemed exercise of 20,125,000 previously issued special warrants.
The Company raised aggregate gross proceeds of $40,250,000 pursuant to the offering of special warrants which closed on January 9, 2018.
The Company remains committed to continue efforts to complete the prospectus qualification process for the distribution of the units underlying the 20,125,000 special warrants. As previously announced each special warrant will entitle the holder to receive, upon the exercise thereof, for no additional consideration, 1.05 units (instead of one (1) unit) provided, however, that any fractional entitlement to such units will be rounded down to the nearest whole unit. There is no assurance that a final short form prospectus will be filed or that a receipt therefor will be issued by the securities regulatory authorities in the Qualifying Jurisdictions prior to the expiry of the statutory four month hold period on May 10, 2018.
A copy of the Prospectus and receipt therefor are available on SEDAR under the Company’s profile at www.sedar.com.
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 Toronto, 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, capable of producing 95,000 kg of dry cannabis flower per year to support existing and future patient growth.
For more information about Maricann, please visit our website at www.maricann.ca
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