Maricann Group Inc. Signs Letter of Intent with ABLE BC
TORONTO, ONTARIO–(Marketwired – Nov. 30, 2017) – Maricann Group Inc. (CSE:MARI)(CSE:MARI.CN)(CNSX:MARI)(OTCQB:MRRCF)(FRANKFURT:75M) (“Maricann” or the “Company”) is pleased to announce it has entered into a non-binding letter of intent (“LOI”) with the Alliance of Beverage Licensees (“ABLE BC”), the advocacy organization representing British Columbia’s private liquor industry which outlines a proposed relationship between ABLE BC and Maricann for, among other things, the supply of Maricann product to ABLE BC members.
We are pleased to partner with Maricann as a supplier of adult-use recreational cannabis for our retail members. We believe British Columbians will be extremely discerning cannabis consumers, so we are excited to work with a producer who has the capacity and commitment to deliver a consistent supply of high quality cannabis products.
Jeff Guignard, Executive Director of ABLE BC
Under the terms of the LOI ABLE BC will agree to provide Maricann with distribution channels for its recreational stable of products, including JuJu Royal’s curated quality strains. This will ensure ABLE’s more than 1,000 members consisting of private liquor stores, neighborhood pubs, bars/nightclubs and hotel liquor licensees have access to Maricann’s stable of established premium cannabis products.
We’re thrilled to work with ABLE and its approximately 1,000 members to ensure a reliable consistent supply of Maricann’s quality differentiated products to their customers, ensuring a wide range of choice, with customers selecting the products they prefer.
Ben Ward, Maricann’s CEO
The parties will now work towards the negotiation and execution of the definitive agreements to document the relationship proposed in the LOI. The LOI does not set forth any specific amounts to be supplied or purchased. Furthermore the timeline for the development of the formal agreement referred to below will depend, in part, on the timing of the implementation of regulations relating to the sale of recreational marijuana.
Maricann, which has federal licenses in Canada to cultivate, extract, formulate and distribute cannabis, is rapidly expanding its Canadian production, based in Norfolk County, Ontario, adding 22,245 kg of annual production of dry flower to come online in Q2 2018, with additional production planned. Maricann is focused on expanding capacity in a truly differentiated product offering, in support of its previously announced joint pharmacy initiative and future global export opportunities.
For more information about Maricann, please visit our website at www.maricann.com.
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