Maricann Group Inc. (OTC: MRRCF) announced on May 10th that the company has completed acquiring all the outstanding shares of Haxxon AG (Haxxon). Maricann acquired Haxxon for $2.580 million CAD as part of its goal to expand into European cannabis markets. The company is now able to participate within the Swiss markets through Haxxon’s specialized feminized cannabis plants that contain high content levels of cannabidiol (CBD).
Haxxon’s facility that Maricann now has full ownership of is a 6,000 sq. m. (or 64,500 sq. ft.) facility that is located in an industrial suburb in Switzerland.
A largely popular change of tobacco habits in Switzerland and throughout Europe has many people replacing or modifying their tobacco consumption with cannabis that contains less than 1% of tetrahydrocannabinol (THC). This new change in Swiss and European consumer desires is of great benefit to Maricann and Haxxon.
MRRCF stock increased in value today by 7.09%. On the date of the initial completion announcement made by Maricann the stock value of MRRCF increased by 10.48%.