TORONTO, Aug. 22, 2018 (GLOBE NEWSWIRE) -- Maricann Group Inc. (CSE:MARI) (FRANKFURT: 75M) (OTCQB:MRRCF) (“Maricann” or the “Company) is pleased to provide an update to the market regarding the Company’s hemp operations in Germany.
On August 3 rd , 2018, Maricann’s European nutraceutical subsidiary MariPlant, commenced the harvest of approximately 165 hectares (~405 acres) of hemp. The Company planted five approved cultivars included in the European Union list of approved hemp. This inaugural harvest utilized new proprietary harvesting and drying systems, designed to optimize yield from industrial hemp.
Maricann used German ingenuity and engineering to develop harvesting equipment that separates the upper portion of the plant from the stalk at the time of harvest in the field. This reduces labour costs and ensures the quality and integrity of the plant. The hemp flowers are then taken directly in a food grade truck to an inline drying system custom designed and manufactured in Germany for Mariplant that is capable of drying up to 50,000 kg of wet hemp flowers per day. The system then separates the flowers and remaining trim to create dry ground hemp flower, immediately ready for extraction.
Maricann test controlled the hemp harvest by selecting a 4-hectare (9,88 acres) plot for hand harvest, with similar yields and results to its automated harvesting process. Output so far exceeds expectations. From the 4-hectare plot almost 3,000 kg of dried material have been collected. Final product CBD content is expected to vary between the different strains, providing sampling for next year’s crop. Third party extraction in Germany commenced on August 21, 2018.
Mariplant continues to innovate and create technological solutions for the cannabis industry to enhance shareholder value and drive down output costs. Maricann remains committed to building a business with efficiency as a core driver, based on technological differentiation and 5S manufacturing. This focus on efficiency is highlighted at the Company’s state of the art Langton, Ontario cultivation facility, where technological advances have been made via work with Rockwell Automation. (see press release dated November 22, 2017)
About Maricann Group Inc.
Maricann is a vertically integrated producer and distributor of cannabis 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.
Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
For more information about Maricann, please visit our website at www.maricann.com
CONTACT INFORMATION
Investor Relations Graham Farrell Director of Investor Relations graham@maricann.com 647-643-7665 Corporate Headquarters (Canada) Maricann Group Inc. (Toronto) 845 Harrington Court, Unit 3 Burlington Ontario L7N 3P3 Canada 289-288-6274 European Headquarters (Germany) Maricann GmbH Thierschstrasse 3, 80538 Munchen, Deutschland
