KELOWNA, British Columbia, March 11, 2017 /PRNewswire/ --
"Nevada: December 19, 2016 Marapharm announced an update of construction on the 7 acres of property we own in Las Vegas. Some of the items and dates given then had time changes but the end date of March 30th for the buildings to be erected at the present time is on target. Photos and a video from a few days ago are posted on the website under the Las Vegas Project tab. The buildings are on the ground and the ground is being prepared. The plan is still to be growing by the end of April. The planning for the buildout of the entire 360,000 square feet of buildings is underway. All cultivation inventories have been pre-sold." Linda Sampson, Marapharm CEO.
Washington: March 9, 2017 the Washington State LCB (Liquor Control Board) have approved the plans submitted for the construction and renovation of one of the buildings located on the 13.6 acres of land recently purchased. The approval is for the 30,000 square foot building and comes with the requirement for Marapharm to provide regular photo updates of the progress to the LCB. The county is now reviewing the capping of the fire sprinklers for approval as part of the overall process.
News Release Summary References, for Washington State:
February 27, 2017 Marapharm announced steps underway to construct / create a cannabis campus. February 12, 2017 Marapharm announced that its subsidiary Marapharm Washington, LLC "Washington WA" had entered into an agreement to purchase 13.6 acres of industrial, highway frontage property located a few minutes south of the Canadian border for $4.2 million US. The transaction closes February 28, 2017. Previously, on June 16, 2016, the Company announced that it had concluded a deal for a lease of a 30,000 square foot building and an option to purchase 13.6 acres of industrial property located in Whatcom County, Washington State. Further, on August 17, 2016, Marapharm announced that Marapharm WA had closed on the purchase of the assets of a 30,000 square foot operating tier 3 marijuana cultivation and processing facility, located in Washington State and on September 27, 2016 and November 1, 2016 provided updates with regard to the Washington operations. Marapharm has been making lease payments on the property and has chosen to act on the option to purchase the land.
ABOUT MARAPHARM VENTURES INC.
Marapharm (OTCQB: MRPHF) trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQB, in Europe, ticker symbol 2M0 on the FSE.
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. The application is currently in the in-depth screening process. In September 2016, Health Canada contacted Marapharm with a provision to amend its application to allow for the new regulations, ACMPR.
Additional information on the operations or financial results of Marapharm are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (http://www.thecse.com), the OTC website (http://www.otcmarkets.com) and Sedar website (http://www.sedar.com) under the profile for Marapharm Ventures Inc.
FOR FURTHER INFORMATION:
http://www.marapharm.com or Linda Sampson, CEO, 778-583-4476 firstname.lastname@example.org
Neither the CSE, the FSE nor the OTCQB® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQB® accepts responsibility for the adequacy or accuracy of this release.
FORWARD - LOOKING STATEMENTS:
Certain statements contained in this news release constitute forward looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
SOURCE Marapharm Ventures Inc.