Maricann Expanding into German Medical Cannabis Market
Toronto, Ontario--(Newsfile Corp. - April 28, 2017) - Maricann Group Inc. (CSE: MARI) ('Maricann' or the 'Company'), a low cost, greenhouse producer of medical cannabis with market leading technological differentiation, has established a new subsidiary in Germany called Maricann GmbH, a company that is duly incorporated with offices located in the city of Munich.
This new subsidiary will help Maricann leverage opportunities in a large country that recently legalized medical cannabis. To that end, Maricann appointed five individuals to the Advisory Board of its subsidiary who will help the company grow in an expanding market for medical cannabis.
'We are pleased to welcome these accomplished individuals to our Advisory Board, as their individual and combined understanding of the marketplace will lead to the success of Maricann GmbH,' said Benjamin Ward, CEO of Maricann. 'The Advisory Board supports the company and management in developing our business, and in particular in helping us form and implement our growth-oriented strategy.'
As subject matter experts, members of the Advisory Board will provide guidance to management on the German market place. They will also review annual plans and forecasts, and any explanations for significant deviations of the actual numbers to budget. Reviewing the subsidiary's staff structure on a regular basis and ensuring the business is conducted in accordance with the highest standards possible are also part of their responsibilities.
'The depth of knowledge and experience contributed to Maricann by our advisors will ensure our company's success in the medicinal cannabis market, not only in Germany, but in our global expansion efforts,' said Benjamin. 'It has been a pleasure to work with Gerhard Muller as he has helped the company develop the German business opportunity.'
The five individuals on the Advisory Board of Maricann GmbH are as follows:
Professor Dr. Markus Backmund MD, PhD — Chair of German Society of Addiction Medicine (Deutsche Gesellschaft für Suchtmedizin e.V.), Professor of Medicine Ludwig-Maximilians Universtät Munchen (LMU), Head of PIT (a treatment centre for addiction medicine, infectious diseases and Psychotherapy), Editor of the magazine Suchtmedizin (Journal of Addiction Medicine), President of the interdisciplinary congress of Addiction Medicine, Munich (800 Medical Doctors) and various other positions mainly relating to addiction research and drug and alcohol dependency.
Birgit Homburger — Currently heading the Berlin office of the Deutsche Aktieninstitut e.V (an institute representing the interests of publicly traded companies, investors and banks), and senior advisor in an international executive search company. Ms. Homburger is the recent past chair of the Freie Demokratische Partei, (parliamentary group FDP), member of the Federal Coalition committee, member of the Bundestag up to 2013, Chairwoman of the FDP parliamentary group in the Bundestag, and leader of the parliamentary group with 93 members of the German Bundestag, responsible for over 110 staff. She holds a degree in public administration at the University of Constance.
Dr. Horst Schiessl — Member of the Board of the Dussmann Stifting and Independent Chair of the supervisory board of Baader Bank AG. Dr. Schiessl, founding partner of SSP Schwiessl, is a lawyer with over forty years of experience in consulting and advising larger German companies and family offices. He studied law and economics in Munich.
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Gerhard Müller — Past audit partner of Ernst and Young's German practice, responsible partner for the Technology, Media & Entertainment sector at Ernst & Young for the Germany, Switzerland, Austria (GSA) Region. A Certified Public Auditor and Tax consultant, Mr. Müller studied economics and English in Munich and Manchester (UK). He left Ernst & Young in 2013 and has been working in his own practice since then. Since July 1, 2013, Mr. Müller has also been deputy chairman of Habitat for Humanity in Germany.
Hans Dendl — Past Chairman of AOK Health, Researcher at NASA Jet Propulsion Laboratory (JPL), and Lockheed Martin Aeronautical Research. Mr. Dendl is currently a lecturer at Ludwig-Maximilians Universtät Munchen (LMU) — MSc. He holds a degree from the Massachusetts Institute of Technology (MIT).
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 Langton, Ontario, where it operates a cultivation, marijuana extraction and distribution business under federal licence from the Government of Canada. Maricann, which has federal licences to cultivate, process and distribute cannabis, services a patient base with more than 8,000 registered patients. Maricann is currently undertaking an expansion of its cultivation and support facilities to support existing and future patient growth. Maricann GmbH is a 95% owned subsidiary of Maricann Netherlands BV, a 100% wholly owned subsidiary of Maricann Group Inc.
- April 2013, Maricann Inc. is founded in Langton, Ontario, a well-established agricultural region in southwestern Ontario
- March 2014, Maricann Inc. obtains its Health Canada licence to cultivate plants
- December 2014, Maricann Inc. obtains its Health Canada licence to sell dried cannabis
- January 2015, first dried cannabis sale
- September 2016, Maricann Inc. earns its Health Canada licence to sell cannabis extracts
- October 2016, first sale of extracted cannabis
- December 2016, Maricann Inc. raises $22.5 million in private capital
- January 2017, commences sale of clones
- February 2017, Maricann Inc. raises $10 million in private capital
- April 20, 2017, Maricann Inc. completes a reverse takeover of Danbel Ventures Inc. which becomes Maricann Group Inc.
- April 24, 2017, first day of trading on the CSE
- April 28, 2017, announces Advisory Board of German subsidiary.
For more information about Maricann please visit our website at www.maricann.ca.