On January 9, 2018, Maricann Group Inc. completed a private placement offering of 20,125,000 special warrants at a price of $2.00 per special warrant, for aggregate gross proceeds of $40,250,000. Each special warrant will be automatically exercised into units of Maricann upon the earlier of: (i) three business days following receipt for a final short form prospectus; and (ii) May 10, 2018. Upon automatic exercise of the special warrants, each unit will consist of one common share of Maricann and one-half of one common share purchase warrant of Maricann.
Maricann is a vertically integrated producer and distributor of marijuana for medical purposes, with production facilities in Langton, Ontario. Maricann operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada and Dresden, Saxony, Germany.
Cassels Brock acted for Maricann with a deal team co-led by Jay Goldman and Andre Boivin, and including James Lyle (Securities and Cannabis) and Christopher Norton (Tax).