Maricann Announces Acceleration of Expiry Date of Warrants
TORONTO, ONTARIO–(Marketwired – Dec. 18, 2017) – Maricann Group Inc. (CSE: MARI)(CSE: MARI.CN) (CNSX: MARI) (OTCQB: MRRCF) (FRANKFURT:75M) (“Maricann” or the “Company”) announces that it is accelerating the expiry date of all outstanding common share purchase warrants (the “Warrants”) of the Company issued pursuant to a warrant indenture dated December 15, 2016 (the “Warrant Indenture”). Pursuant to the Warrant Indenture, an Early Expiry Event (as defined therein) has occurred, as the volume weighted average trading price of the outstanding common shares of the Company was greater than $1.90 for a period of 20 consecutive trading days. The Early Expiry Event provides the Company the right, in accordance with the Warrant Indenture, to accelerate the expiry date of the Warrants. The Warrants must be exercised no later than 5:00 p.m. (Toronto time) on January 17, 2018 (the “Early Expiry Date”).
Each Warrant is exercisable into one common share of the Company at a price of $1.25 per common share. Upon the Company providing notice to the registered warrantholders and the warrant agent of the Early Expiry Date, the Warrants will expire at the close of the 30th day after the date of such notice. Notice of the acceleration of expiry date will be provided to the registered warrantholders by the warrant agent under the Warrant Indenture today.
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 847,000 sq. ft. (78,688 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.com
