Latest Medican Holdings News
Jun 14, 2018
June 14, 2018 at 9:23 am Published by NCV Newswire Visit the Maricann Group Investor Dashboard and stay up to date with data-driven, fact based due diligence for active traders and investors. Maricann Provides an Update on Malta TORONTO, June 14, 2018 (GLOBE NEWSWIRE) — Maricann Group Inc. (CSE:MARI) (FRANKFURT:75M) (OTCQB:MRRCF) (“Maricann” or the “Company) is providing an update to the market regarding their recently announced letter of intent to acquire a license in Malta.Following discussions with Malta Enterprise, the government entity responsible for the issuance of such licenses, the Company has submitted its own application for a license and has terminated its letter of intent to acquire Medican Holdings (“Medican”). Initially, Medican had received initial approval and Maricann received confirmation of the same. Malta Enterprise then contacted Maricann to request the Company make its own application, as their preference was to work through Maricann rather than Medican. The Company then submitted its own application to Malta Enterprise who have acknowledged receipt. Maricann anticipates the application to be reviewed within the next 30 days with a decision on the approval status. 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 where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) and will continue to pursue new opportunities in Europe.