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.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated one thousand nine hundred dollars for news coverage of the current press release issued by Marapharm Ventures Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
Media Contact email: firstname.lastname@example.org