Toronto, Ontario--(Newsfile Corp. - January 17, 2019) - Leviathan Cannabis Group Inc. (CSE: EPIC) (the "Company" or "Leviathan") announces it has entered into a letter of intent to acquire all the issued and outstanding shares of MariGrow Inc. ("MariGrow" or the "Transaction").
MariGrow is a late stage applicant that has received its Confirmation of Readiness from Health Canada's Office of Medical Cannabis. MariGrow has secured a 5-acre property with an existing 32,000 square foot building in a remote industrial park in Haldimand County just outside Port Dover, Ontario. The interior of the building is completely gutted. Leviathan plans to provide the necessary capital for the retrofit and to transform the building into an indoor cultivation facility. The property also offers efficient greenhouse and outdoor expansion capacity.
"From our inception, the Company's mandate has been to maintain a full pipeline of acquisition opportunities and seize those which adhere to our core growth strategy," states Martin J. Doane, CEO of Leviathan. "MariGrow represents a unique opportunity for Leviathan to become a licensed producer of top-shelf cannabis within the next six months. In addition, the MariGrow facility is only 35-40 minutes from our Pelham site enabling us to share staff, contractors and other key resources. We are also excited to work with the MariGrow team, which adds a group of extremely capable and experienced cannabis growers to Leviathan's platform."
The transaction is targeted to close by February 15, 2019.
About Leviathan Cannabis
Leviathan plans on executing a series of strategic acquisitions that extend across all vertical markets in Canada and internationally, to support the Company's proprietary brand strategy. This global reach positions the Company to be a leading multi-jurisdictional medical and recreational cannabis enterprise - one that brings together the best cannabis products, brands and expertise from Canada and around the world. Leviathan portfolio currently comprises Jekyll+Hyde Brand Builders Inc., a marketing services agency specializing in the cannabis sector, and Woodstock Biomed Inc., a late-stage applicant under the ACMPR, which is in the process of retrofitting a substantial greenhouse production facility in Pelham, Ontario.
Please visit www.LeviathanCannabis.com
For more information, contact Martin J. Doane, CEO, Leviathan Cannabis Group Inc. at 416.903.6691 or Jayne Beckwith, Chief Communications Officer at Leviathan Cannabis Group Inc. at 416.806.0591.
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions.
Forward-looking statements are based on certain assumptions, including successful application to be a licensed cannabis producer and seller, expected growth, results from operations, performance, industry trends and growth opportunities. While Leviathan considers these assumptions to be reasonable, based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the medical and recreational cannabis industry in Canada in general, income tax and regulatory matters, the ability of Leviathan to execute its business strategies, competition, crop failure, currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. Except as
required by law, Leviathan disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward- looking statements contained in this news release are expressly qualified by this cautionary statement.
Source: Leviathan Cannabis Group Inc.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
