This is a collaborative retail initiative between Lovell Drugs Ltd. and Maricann Group Inc.
Company is deepening its relationships with the pharmacy sector
TORONTO, ONTARIO--(Marketwired - Nov. 13, 2017) -
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Maricann Group Inc. (CSE:MARI)(CSE:MARI.CN)(CNSX:MARI)(OTCQB:MRRCF)(FRANKFURT:75M) ("Maricann" or the "Company") is pleased to announce that it has entered into a letter of intent with Lovell Drugs Limited ("Lovell Drugs"), one of the oldest independent drug store chains in Ontario, to be the primary and exclusive provider of medicinal cannabis products to its patients through a two part initiative, consisting of;
"We believe that pharmacies are the best distribution points for medicinal cannabis, as is the case for all other prescriptions," said Ben Ward, CEO of Maricann. "That's why we are so pleased to be working with Lovell Drugs in finding ways to provide Maricann's differentiated medical cannabis education and products for their patients. Lovell Drugs' pharmacists are trusted health care professionals, providing services such as Clinic Days, MedsChecks, blood pressure tests, smoking cessation products, and cholesterol testing for their patients."
The contemplated term of the agreement is four years, with an option to extend another three years if the parties mutually agree. The letter of intent will form the basis of a definitive agreement to be executed by the parties at a future date. A further announcement will be made upon the execution of the definitive agreement.
Signing this letter of intent with Lovell Drugs builds on Maricann's deepening relationships with pharmacists across Canada. On November 6, 2017, Maricann announced that it had entered into a definitive agreement to create a similar pharmacy services program with a national provider that services over 2,000 pharmacies across Canada.
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.
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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 the planned increase in annual production and the execution of a definitive agreement with Lovell Drugs. 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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