Maricann Group Inc. announced today that it has entered into an exclusivity agreement with Rare Dankness LLC to bring Rare Dankness' certified strains and cannabis products to Canada, according to a press release.
Rare Dankness was founded in 2010 after many years of growing, collecting, preserving and experimenting with many varieties of cannabis. The Rare Dankness genetics bank spans three decades and represents what they believe to be the finest specimens of cannabis strains in the world. Rare Dankness developed genetics do not simply replicate the "mothers," but compliment the genetics by breeding with superior males, and breed specifically for certain cannabinoid and terpene profiles.
Specializing in elite/rare genetics, Rare Dankness has created new and innovative genetics, including: Ghost Train Haze #1, Rug Burn OG, The OX, CBD OX (a 1:1 CBD strain) and Moonshine Haze.
Rare Dankness is a multi winner of the High Times Cannabis Cup for their various strains, are listed first and third in the Legends of Hash #11 and have won over 80 awards worldwide. Rare Dankness is a Colorado based company with a separate European company for the world wide medical cannabis legal market.
"As a globally recognized brand, with constantly increasing market awareness, our commitment to quality and the cannabis culture, make Rare Dankness highly sought after for the genetic catalogue, brand recognition and consulting insight," stated Scott Reach, founder of Rare Dankness. "Working with Maricann Group gives us the capability to produce my genetics, provide premium grade, consistent, connoisseur quality cannabis flowers and extracts in a world class facility to bring RD to Canadians."
"RD is authentic, original and is a brand that cannabis lovers worldwide follow and seek out," said Ben Ward, CEO of Maricann. "We're offering a truly quality differentiated product that people already want, built on a brand that gained its reputation by being the best, and proved it by gaining external validation by connoisseurs worldwide. RD's authenticity and innovation translates into its success, built on a unique base of genetics and the skill of its founders."
Rare Dankness will headline Maricann Group Inc.'s offering to the recreational market.
Summary of the Exclusivity Agreement
The Exclusivity Agreement provides Maricann with exclusive distribution and retail rights for the Canadian markets for specified Rare Dankness genetics and products for a five-year term, subject to Maricann meeting minimum wholesale targets each year or paying an exclusivity fee and a right of first refusal to act as Rare Dankness' exclusive distributor for the products in Europe.
In consideration for the exclusivity, Maricann has agreed to provide Rare Dankness with the following consideration:
- A signing fee of USD $500,000
- Grant of C$250,000 in warrants on the date of signing and on the first and second anniversary date of the Exclusivity Agreement exercisable at the market price at close of markets on the preceding day
- A profit sharing arrangement on the sale of the products by Maricann
For more information about Maricann, please visit our website at www.maricann.com
