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Maricann Group Inc. (CNSX:MARIannounced on April 13th that they have a definitive agreement with Haxxon and will acquire the European company. Maricann will finalize their transaction with Haxxon by or close on the date of May 15th, 2018.

Haxxon is key to Maricann’s goals of expansion into the European markets. Haxxon’s location in Switzerland will give Maricann entry into European and the immediately surrounding Swiss markets.

Haxxon owns and operates a large 64,500 sq. ft. production facility in Regensdorf, Switzerland. This facility is what allowed Haxxon to refine their product of feminized hemp plants that hold high levels of CBD.

Maricann will also invest 4,800,000 CHF into Haxxon, which is equal to $4,983,672 USD. Their plan for the company with the investment is to improve the cultivation facilities owned by Haxxon as well as their cultivation ability and to create a tobacco substitute with extraction and processing.

MARI increased 3.09% so far in the first 4 hours of trading on the 13th; however the stock is down 8.74% since the 9th of April.