Maricann hemp subsidiary starts German crop for European production

A German hemp subsidiary of Canada-based Maricann is planting its first hempseeds on 405 acres in eastern Germany.

Mariplant GmbH, based in Dresden, on Wednesday announced plans for the Saxony cultivation site.

Mariplant is a 95%-owned subsidiary of Maricann, an Ontario company that grows and distributes medical marijuana.

The hemp grow is accompanied by an 86,000-square-foot facility to process the hemp.

Maricann CEO Ben Ward said the Germany hemp operation “has the potential to reduce our costs of production significantly” because the company will no longer need to outsource active ingredients for some of its products.

Mariplant, which produces isolates of CBD, CBG and CBN, says the facility will eventually process up to 441 pounds of dried cannabis flower per day.

Maricann, which is traded on the Canadian Securities Exchange as MARI, will add hemp-derived terpenoids and flavonoids from a sister facility in Switzerland to the isolates for distribution as food supplements across the European Union.