Maricann Group, Inc. Stock (OTC: MRRCF) (CSE: MARI) - Investor Dashboard
|Licensed Capacity:||930/352/30 kgs flower/oil/resin|
|Number of Patients:||>3000|
|Cash on hand:||$8.0mm|
|Revenues – Last Quarter:||$661K|
|Adj. Gross Margin :||-94.6%|
Capital Structure (8/28/17)
|Last Financing:||3.51mm shares at $2.85|
Maricann Group Inc., was founded in 2013 and is based in a well-established agricultural region in southwestern Ontario, Canada. In March of 2014 Maricann earned a Health Canada license to cultivate plants and in December earned a license from Health Canada to sell dried flower.
The company sold $1.97mm dried cannabis in 2015, and purchased 97.5 contiguous acres while earning a license to sell cannabis extracts in September. Maricann, which has partnered with Evolab, its Colorado-based extraction technology partner, to access its leading technology and processes, made its first sale of extracted cannabis in October.
The Maricann Langton Facility produced sales of $4.2mm in 2016 and is expected to almost triple production in 2017 following expansion and the introduction of new products. Maricann grows all-natural plants in its energy-efficient greenhouse, while maintaining secure and consistent supply, as it has focused on 8 profitable and proven strains and is aiming for production costs of $1.34 per gram.
Maricann is currently expanding domestic and international capacity and distribution channels. In Germany, Maricann has commenced a retrofit of a 500,000 sq. ft. cultivation facility which is currently underway, and is preparing to cultivate all-natural plants in a portion of the facility in Dresden. The company has raised $35mm in capital since November.
Expanding in Mature Markets
Maricann’s GMP-compliant clean-room cultivation facility in Dresden, Germany leaves it very well positioned for growth in a large market.
German Parliamentarians voted unanimously in January 2017 in favor of the new “Cannabis as Medicine” law, which will create a large market with insurance coverage and pharmacy distribution and will allow Maricann to expand throughout the European Union.
- Licensed by Health Canada since 2014
- Focus on both Medical and Lifestyle cannabis
- Management team experienced in cultivation, pharmaceuticals, distribution and healthcare
- Selling dried flower, oils, resin and clones
- $35mm capital raised since November 2016
- Forecasting strong production and sales growth following facilities expansion
- Expanding Langton, Ontario greenhouse in two phases
- Dresden, Germany GMP-compliant cultivation facility to allow EU expansion if company is successful in obtaining a license
- Virtual pharmacies in physical locations and seminars and education offered by Synergy Health Clinics
- Considering acquisitions
- Focus on energy efficiency using glass greenhouse
- Intending to apply for a German cultivation license
- Focus on 8 proven and profitable strains
- Joint venture with Evolab, a leading Colorado extraction technology partner
Ben Ward, CEO at medical marijuana company Maricann Group, discusses the opportunity for growth in Germany, now that the country has legalized the drug for health reasons. We talk about Attorney General Jeff Sessions’ stance on the drug and why investment opportunities may be slowing under the Trump Administration. Now that Germany has expanded into medicinal cannabis, Ward estimates that the rest of Europe will soon follow.
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