TORONTO, ONTARIO–(Marketwired – Nov. 15, 2017) – Maricann Group Inc. (CSE:MARI)(CSE:MARI.CN)(CNSX:MARI)(OTCQB:MRRCF)(FRANKFURT:75M) (“Maricann” or the “Company”) announced today that a small electrical fire occurred earlier today at its processing facility in Langton, Ontario. The fire was contained to a small area and the smoke was controlled to the immediate area of the fire. All employees followed the Company's safety procedures and were safely evacuated. Cultivation and product storage areas were not affected and damage was limited to a confined area. Electrical contractors are working to repair damaged wiring and circuitry and have all materials on-site to complete the repairs.
Cultivation areas, including greenhouses are operating on back-up power generation and functioning normally.
All operations are expected to return to normal by the open of business at 7:00 a.m. EST on November 16, 2017.
About Maricann Group Inc.
Maricann, which has federal licenses in Canada to cultivate, extract, formulate and distribute cannabis, is rapidly expanding its Canadian production, based in Norfolk County, Ontario, targeting to add 22,245 kg of annual production of dry flower to come online in Q2 2018, with additional production planned. The Company announced on November 8, 2017 that Health Canada had granted Maricann Group Inc. a new licence that removes annual production limits on approved medical cannabis products in its Canadian growing facility.
For more information about Maricann, please visit our website at www.maricann.ca
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Information
Certain statements in this document contain forward-looking statements 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. The forward looking statements in this release include statements regarding planned increases in annual production and the timing of the repair of damaged wiring. 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: 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; failure to obtain required financing; 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. 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. The reader is cautioned not to place undue reliance on forward-looking information.
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