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Maricann Group Inc. Completes $40 Million Private Placement

Published: 01/09/2018

Team: Jay Goldman, Andre Boivin, James Lyle, Christopher B. Norton

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).