For the fourth volume of our Canadian Medical Marijuana Licensed Producers series, we take a look at Maricann. Maricann’s facilities are located in Langton, Ontario, Canada. The company is currently expanding its cultivation and support plant in Langton to a fully funded 217,000 square feet facility.
MARICANN – VOLUME 004
Maricann is a publicly traded medical cannabis company founded in 2013. This producer and distributor of marijuana for medical purposes was first licensed in March 2014 and again in September 2017.
The licensed producer is currently expanding its facility after having being granted a second license to produce. The expansion aims to increase output as to prepare for growth into the recreational market in Canada, and ultimately into emerging marijuana markets around the globe.
The company boast of proprietary deconstruction/reconstruction processes that are able to deliver high quality, pure cannabinoid oil, full-spectrum terpene extracts and other bioactive molecules that can then be combined in precise ratios and validated with scientific procedures.
Maricann starts with the best strains and employs next-generation sequencing for gene expression analysis. They also extract, distill and purify strains tailored to suit a patient’s individual needs, thanks to the high-tech, 10,000 sq. ft. embedded research lab within its Langton, Ontario facilities.
Maricann ACMPR Licenses
The Company is licensed by Health Canada under the Access to Cannabis for Medical Purposes Regulation (ACMPR) program. The company currently holds two separate licenses, having received the first one in early 2014 and one in September 2017.
First license. Received under Marijuana for Medical Purposes Regulations (MMPR) program in March 2014. The Company received an updated license under the ACMPR on in March 2017. This license allows Maricann to cultivate and sell dried cannabis, produce and sell cannabis oils as well as sell plants for patients who wish to grow at home.
Second license. In September 2017, Maricann obtained a license to sale for its second location in Burlington, Ontario. Maricann will be moving its administration and R&D activities to the new facility. The new facility will also benefit from a new analytical lab, which will help accelerate research and help the company scale.
Maricann Location & Facilities
The licensed producer is fully funded for the first phase of its expansion 217,000 sq. ft., which was enclosed at the end of September 2017 and is expected to be complete and ready for inspection by Health Canada by November 2017. This will increase Maricann’s production significantly and get it ready for the expected growth in the cannabis industry.
The additional 217,000 sq. ft. greenhouse facilities will be supplied with cost-efficient and sustainable energy sources (mostly natural gas). An additional 150,000 sq. ft. of growing space to the same facility is planned, which should further drive production, sales, and economies of scale.
As observed with other licensed producers, Maricann is ramping up domestic and international capacity and distribution outlets. The company also recently began construction of a half a million growing and cultivation facility Dresden, Germany.
The company’s facilities in Langton, Ontario were recently hit (March 2017) by severe winds of over 100km/h which contaminated the production. The company reported that debris and contaminating agents had entered the 5 principle flowering greenhouses.
Maricann Products & Revenues
The Company sold for $2 million of dried cannabis in 2015, and its Langton facility produced sales of $4.2m in 2016 and is expected to increase production threefold by December 2017. The growth will come amid a facility upgrade and new product launch. The company’s products are entirely natural and grown in a greenhouse. Maricann focuses on eight cannabis kinds (strains) and is targeting a production cost of $1.34 per gram.
The research lab is an integral part of the licensed producer’s success as it will help the licensed producer to obtain better yields, standardize its products and improve the profitability if it wishes to compete with the larger producers.
The company’s executive estimate that its recent investments will help Maricann achieve its cost target of $1.34.
Maricann Parners & Subsidiaries
In August 2017, Maricann acquired NanoLeafTechnologies, a biotech company. NanoLeaf Technologies possesses patent-protected technologies to extract and deliver cannabis, pharmaceuticals, nutraceuticals and cosmetic products. The company created the first cannabinoid soft-gel capsule, a major step towards being able to consume standardized cannabis dosage in a safe and sustainable manner.
Maricann GmbH & the Green Streaming Finance Company
Maricann entered into a $42.5M deal with the Green Streaming Finance Company of Canada to finance its expansion in the European Union where it currently has operations in Germany. In exchange for the funding, Maricann will provide the Green Streaming Finance Company of Canada with 20% of the output for those facilities.
International Cannabrands Ltd.
In October 2017, the Company entered into a partnership with Julian Marley, son of Bob Marley, and International Cannabrands. The partnership will allow the producer to produce and market JuJu Royal, a powerful premium brand with growing demand. This partnership is similar to that of Snoop Dog with Canopy Growth Corp (Leafs by Snoop)