Maricann Group Inc. (CSE:MARI; FWB:75M; OTCQB:MRRCF) is pleased to provide the following update with regards to the Company’s European operations.
Given the rapid expansion of the European Medical Cannabis Market, the recent additions to Maricann’s European management team and the expanded ability to complete medical testing in Europe, Maricann intends to now centre its medical cannabis research and development operations in Germany.
Maricann is also pleased to announce the addition of Morten Lars Brandt in the role of General Manager, Europe. Mr. Brandt is an experienced pharmaceutical executive, with a broad range of experience in progressively senior roles at life sciences company, Norgine; including Vice President Medium Sized Markets, Vice President, and General Manager. Mr. Brandt is based in Germany and will be spearheading Maricann’s pharmaceutical division in Europe.
In addition to Mr. Brandt, Maricann has engaged Dr. Thoralf Schlosser as its Qualified Person for its European Medical Division. Dr. Schlosser has held a series of progressively senior roles at Catalent Pharma Solutions, Schorndorf, Dynavax Technologies Europe, Düsseldorf, and Sandoz, Rudolstadt, a Division of Novartis, as Head of Quality Assurance. Dr. Schlosser received his Doctorate of Pharmacy from the Studium de Parmazie – University of Leipzig.
Maricann is also pleased to announce that it has received its EudraCT (European Union Drug Regulating Authority Clinical Trial) number and Protocol Code Number for its pharmacokinetic study to examine the potential increase in bioavailability of cannabinoids using its exclusive patented VesiSorb Technology. The Company expects to commence studies under the leadership of Dr. Markus Backmund, Advisory Board Member – Maricann GmbH and Dr. Steven Bennett, Chief Scientific Officer, Maricann Group Inc.
“Maricann continues to advance its position as a leader in the European medicinal cannabis market, adding to its depth of experience in the pharmaceutical sector with Morten Brandt and Dr. Thoralf Schlosser. Our receipt of our EudraCT number means we can advance and now prove the value of the VesiSorb acquisition, as fact,” stated Ben Ward, CEO.
With the appointment of Dr. Schlosser, Dr. Thomas Klumpp has resigned from his full-time position of Qualifed Person, due to personal health reasons. The Company is grateful for Doctor Klumpp’s assistance, including his work to achieve EU-GMP status for its initial Canadian cultivation and processing operation, and the time leading up to its inspection of its Maricann GmbH narcotics licensing in Germany. Dr. Klumpp remains available to the Company when needed.
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) build out and will continue to pursue new opportunities in Europe.
Forward Looking Information
Certain statements in this press release contain forward-looking statements, including, without limitation with respect to the Company’s studies relating to VesiSorb technology which can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “desires”, “will”, “should”, “projects”, “estimates”, “contemplates”, “anticipates”, “intends”, or any negative such as “does not believe” or other variations thereof or comparable terminology. No assurance can be given that potential future results or circumstances described in the forward-looking statements will be achieved or will occur. By their nature, these forward-looking statements, necessarily involve risks and uncertainties, including those discussed herein, that could cause actual results to significantly differ from those contemplated by these forward-looking statements. Such statements reflect the view of the Company with respect to future events, and are based on information currently available to the Company and on assumptions, which it considers reasonable. Management cautions readers that the assumptions relative to the future events, several of which are beyond management’s control, could prove to be incorrect, given that they are subject to certain risk and uncertainties, and that actual results may differ materially from those projected. Factors which could cause results or events to differ from current expectations include, among other things: uncertainties with respect to legalization of recreational cannabis; risks inherent to the expansion project; fluctuations in operating results; the impact of general economic, industry and market conditions; the ability to recruit and retain qualified employees; fluctuations in cash flow; increased levels of outstanding debt and obligations under a capital lease; expectations regarding market demand for particular products and the dependence on new product development; the impact of market change; and the impact of price and product competition, as well as other risks discussed in its latest annual information form and other disclosure documents of the Company available at www.sedar.com. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
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