International Cannabrands Inc. (formerly, GEA Technologies Ltd.) (CSE:JUJU.A) (the “Company”) is pleased to report that the Maricann Group Inc. (CSE:MARI, OTCQB: MRRCF, Frankfurt: 75M) (“Maricann”) announced JuJu Royal™ will be among its stable of products for distribution pursuant to a non-binding letter of intent (“LOI”) with the Alliance of Beverage Licensees (“ABLE BC”). ABLE BC is the advocacy organization representing British Columbia’s private liquor industry. The LOI outlines a proposed relationship between ABLE BC and Maricann for, among other things, the supply of Maricann products, including JuJu Royal, to the distribution channels of ABLE BC’s 1,000 members.
The Company announced its arrangement with Maricann in October, where Maricann has the exclusive right to cultivate, extract and distribute in Canada the JuJu Royal line of products that are currently offered in the United States. See the joint press release dated October 5, 2017, for additional information.
Jeffrey Britz, the International Cannabrand’s CEO commented: “Maricann is known for its quality, differentiated products, unparalleled reputation and established customer base. We couldn’t be happier with our choice of partner for distribution of JuJu Royal in Canada.”
ABLE and Maricann will now work towards the negotiation and execution of the definitive agreements to document the relationship proposed in the LOI. The LOI does not set forth any specific amounts to be supplied or purchased. Furthermore the timeline for the development of the formal agreement will depend, in part, on the timing of the implementation of regulations relating to the sale of recreational marijuana in Canada. For more information see Maricann’s press release dated November 30, 2017.
Maricann, which has federal licenses in Canada to cultivate, extract, formulate and distribute cannabis, is rapidly expanding its Canadian production, based in Norfolk County, Ontario, adding 22,245 kg of annual production of dry flower to come online Continue Reading