PALM BEACH, Florida, January 12, 2017 /PRNewswire/ --
With the cannabis industry well-established as a serious player within the global economy, mergers and acquisitions are propelling the rapidly developing market to even higher heights. Cannabis operators in the markets this week include: Marapharm Ventures Inc. (OTC: MRPHF), MassRoots, Inc. (OTC: MSRT), OWC Pharmaceutical Research Corp. (OTC: OWCP), AXIM Biotechnologies, Inc. (OTC: AXIM) and 22nd Century Group, Inc. (NYSE: XXII).
Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) announced earlier this week plans to invests in Veritas Pharma Inc. Today Marapharm announces that is has entered into a subscription agreement to acquire 5 million 18 month $0.30 share purchase warrants of Veritas Pharma Inc. for consideration of $250,000. Read the full Marapharm press release and other news at: http://marketnewsupdates.com/news/mrphf.html
"We like the Veritas Pharma business model and we know that we can play a big role in their growth. Marapharm has acquired shares and rights to acquire up to 15 million shares of Veritas, after taking into account 10 million share purchase warrants that we have. As a result of the investment, Marapharm will have the right to appoint members to the Veritas board of directors. There's great synergy with Veritas and Marapharm and the additional investment in the share purchase warrants will provide additional capital to Veritas as they execute on their business plan," says Linda Sampson, Marapharm CEO.
Marapharm has 300,000 square feet of medical marijuana licenses for its land and facilities in WA and NV and about two and a half years ago, Marapharm applied in Canada to Health Canada for a MMPR (Production and Sales) license and has passed the necessary security clearances.
In other cannabis industry news and performances of note:
MassRoots, Inc. (OTCQB: MSRT), one of the leading technology platforms for the cannabis industry, announced it has received over $2.0 million in cash proceeds from the exercise of warrants so far in 2017. This gives MassRoots its strongest cash position in corporate history as it continues to capitalize on the expanding regulated cannabis market.
OWC Pharmaceutical Research Corp. (OTCQB: OWCP) closed up over 26% on Wednesday at $0.37 trading over 10.2 Million shares by the market close. OWC Pharmaceutical Research Corp. engages in the research and development of Cannabis-based medical products.
AXIM Biotechnologies, Inc. (OTCQB: AXIM) closed up over 27% on Wednesday at $15 per share. Medical Marijuana, Inc. announced earlier this wekk that its major investment company AXIM® Biotechnologies, Inc. has received positive pharmacokinetic (PK) data results on its CanChew Plus® CBD Gum, which will be used in upcoming clinical trials with patients suffering from irritable bowel syndrome (IBS).
22nd Century Group, Inc. (NYSE: XXII), a plant biotechnology company that is focused on reducing the harm caused by smoking, reported this week that the U.S. Food and Drug Administration (FDA) has provided the Company with helpful and positive feedback on the Company's combined Modified Risk Tobacco Product Applications (MRTPAs) and Premarket Tobacco Product Applications (PMTAs) for 22nd Century's "BRAND A" Very Low Nicotine tobacco cigarettes.
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