Mr. Graham Farrell reports

MARICANN ANNOUNCES OPERATIONAL UPDATE

Maricann Group Inc. has provided investors with an operational update after the closing of its recent $40-million financing.

Canadian operations

• Phase one construction of the company's state-of-the-art Langton, Ont., facility is currently on time and within 2 per cent of the budget. Maricann anticipates planting to begin in the second quarter of 2018 following a Health Canada inspection. Initial production capacity is expected to be 22,500 kilograms per year.
• The main processing area is structurally complete (90,000 square feet).
• The mother, clone and vegetation area is structurally complete (37,000 square feet).
• The 1.55-million-litre water cistern is structurally complete.

An overhead illustration of the facility is available on Maricann's website.

• Phase two and phase three construction has commenced, targeted to bring future capacity to 95,000 kg per year.
• The pilot of Maricann's retail pharmacy partnership with a leading Canadian pharmacy operator kicks off this month. National launch is expected to move forward in April, 2018. This exclusive agreement will allow Maricann to supply patients of about 25 per cent of Canada's pharmacies directly with medicinal cannabis.

German operations -- Q1

• Maricann anticipates receiving narcotics import and wholesale licences by the end of March, 2018.
• Maricann expects to receive GMP (good manufacturing practices) certification of its Canadian operations, permitting export to Germany of packaged dry cannabis flowers in February, 2018.
• The company expects to start distributing 25-milligram CBD (cannabidiol) VesiSorb capsules in February, 2018.

Please visit the company's website for an updated presentation.

About Maricann Group Inc.

Maricann is a vertically integrated producer and distributor of marijuana for medical purposes. The company was founded in 2013 and is based in Toronto, Canada, and Munich, Germany, with production facilities in Langton, Ont., where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the government of Canada and Dresden, Saxony, Germany. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in an 847,000-square-foot (78,688-square-metre) buildout, capable of producing 95,000 kilograms of dry cannabis flower per year to support existing and future patient growth.

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