Maricann Enters Exclusivity Agreement to Bring Authentic Rare Dankness Cannabis Cup Award Winning Products to Canada
TORONTO, ONTARIO–(Marketwired – Jan. 2, 2018) -
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Maricann Group Inc. (CSE:MARI)(CSE:MARI.CN)(CNSX:MARI)(OTCQB:MRRCF)(FRANKFURT:75M) (“Maricann” or the “Company”) announced today that it has entered into an exclusivity agreement (the “Exclusivity Agreement”) with Rare Dankness LLC (“RD”) to bring the world’s most sought after certified strains and cannabis products to Canada.
Rare Dankness was founded in 2010 after many years of growing, collecting, preserving, and experimenting with many varieties of Cannabis. The Rare Dankness genetics bank spans three decades and represents what they believe to be the finest specimens of Cannabis strains in the world. Rare Dankness developed genetics do not simply replicate the “mothers”, but compliment the genetics by breeding with superior males, and breed specifically for certain cannabinoid and terpene profiles.
Specializing in elite/rare genetics, Rare Dankness has created new and innovative genetics, including: Ghost Train Haze #1, Rug Burn OG, The OX, CBD OX (a 1:1 CBD strain), and Moonshine Haze.
Rare Dankness is a multi winner of the High Times Cannabis Cup for their various strains, are listed first and third in the Legends of Hash #11 and have won over 80 awards worldwide. Rare Dankness is a Colorado based company with a separate European company for the world wide medical cannabis legal market.
“As a globally recognized brand, with constantly increasing market awareness, our commitment to quality and the cannabis culture, make Rare Dankness highly sought after for the genetic catalogue, brand recognition and consulting insight,” stated Scott Reach, founder of RD. “Working with Maricann Group gives us the capability to produce my genetics, provide premium grade, consistent, connoisseur quality cannabis flowers and extracts in a world class facility to bring RD to Canadians.”
“RD is authentic, original and is a brand that cannabis lovers worldwide follow and seek out,” said Ben Ward, CEO of Maricann. “We’re offering a truly quality differentiated product that people already want, built on a brand that gained its reputation by being the best, and proved it by gaining external validation by connoisseurs worldwide. RD’s authenticity and innovation translates into its success, built on a unique base of genetics and the skill of its founders.”
Rare Dankness will headline Maricann Group Inc.’s offering to the recreational market.
Summary of the Exclusivity Agreement
The Exclusivity Agreement provides Maricann with exclusive distribution and retail rights for the Canadian markets for specified Rare Dankness Genetics and Products for a five year term, subject to Maricann meeting minimum wholesale targets each year or paying an exclusivity fee and a right of first refusal to act as RD’s exclusive distributor for the products in Europe.
In consideration for the exclusivity, Maricann has agreed to provide RD with the following consideration:
- A signing fee of USD $500,000;
- Grant of C$250,000 in warrants on the date of signing and on the first and second anniversary date of the Exclusivity Agreement exercisable at the market price at close of markets on the preceding day
- A profit sharing arrangement on the sale of the products by Maricann.
For more information about Maricann, please visit our website at www.maricann.com
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. 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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Maricann Group Inc.
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