PALM BEACH, Florida, November 22, 2016 /PRNewswire/ --
The legal marijuana & cannabis industry is booming in various sectors as companies in this space hustle to keep up with the skyrocketing demand post last week's elections through the acquisition of resources and other assets, along with product and services development. Active in the cannabis sector today include: Marapharm Ventures Inc. (OTC: MRPHF), OWC Pharmaceutical Research Corp. (OTC: OWCP), GW Pharmaceuticals plc (NASDAQ: GWPH), Medical Marijuana, Inc. (OTC: MJNA) and AXIM Biotechnologies, Inc. (OTC: AXIM)
Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) announces a second agreement to acquire assets in California - Marapharm announces, that in addition to the transaction described in the news release dated November 14, 2016, it has entered into another agreement to purchase an industrial facility in southern California and three (3) medical marijuana licenses for manufacturing, cultivation, and retail uses. The land size is 0.32 acres and the existing building size is 2,756 square feet, with an 18-foot-ceiling clearance, for a purchase price of $950,000.00 USD, based on a purchase price of less than $350 USD per square foot. There is excess land for expansion on the corner parcel and the yard area is paved and suitable for greenhouse growing. The purchase is subject to, and contingent upon, completion of satisfactory due diligence, including background checks, and closing documentation for the issuances of the three (3) licenses to Marapharm within 60 days, with the closing to take place 60 days from the removal of contingencies.
Read the full Marapham Ventures Press Release and recent news at: http://marketnewsupdates.com/news/mrphf.html
"We are really excited to have a second property as well as three more licenses in the California market. Marapharm is positioning to be an effective competitor and marketer in the most populous state in the nation. Smaller and well located facilities like this one are perfect for training staff and for product testing of new strains and products", says Linda Sampson, Marapharm CEO and director.
Marapharm also announces that one series of warrants has been fully exercised. The warrants were issued in an offering that closed on November 10, 2015, for an aggregate issuance of 661,250 units comprised of 661,250 common shares and 661,250 warrants exercisable into 661,250 common shares at an exercise price of $0.45 for one year. The maximum amount which could be received from the warrant exercises is $297,562.50, and this amount was received in full on November 10, 2016. In addition, warrants from an offering which closed on November 6, 2015, have also been fully exercised. The offering consisted of 1,247,000 units, each unit consisting of one (1) common share and one (1) common share purchase warrant, allowing the subscriber to purchase an additional common share at an exercise price of $0.75 within 1 year. As a result of the warrant exercise, Marapharm received $935,250.00 in full on November 6, 2016. The total amount received for the two warrant exercises is $1,232,812.50. In addition, other holders of warrants from other private placements are exercising their warrants in advance of the due dates and these amounts will be announced in due course.
In other industry news and happenings in the markets this week:
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), a developer of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, last week announced that Jeffrey Friedland, a member of the Company's Advisory Board, will be participating in Bloomberg Intelligence's first cannabis-related event; Cannabis Trends & Legalization Implications. Cannabis Trends & Legalization Implications was held Monday, November 21st in New York City, exploring the most important legal, medical and financial developments and issues associated with America's marijuana industry.
After dipping a bit in yesterday's trading, GW Pharmaceuticals plc (NASDAQ: GWPH) rebounded and closed up over 2% at $121.57 on just under 1 Million shares traded by the market close. GW Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas.
Medical Marijuana, Inc. (OTC PINK: MJNA) announced last week that its major investment AXIM Biotechnologies, Inc. (OTCQB: AXIM), a world leader in hemp cannabinoid research and development, that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Application Serial Number 9,433,601, a patent that claims the use of all cannabinoids in cannabinoid-containing controlled-release chewing gum products. A Notice of Allowance is issued after the USPTO makes a determination that a patent can be granted from the application, filed in April 2015.
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 four 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: email@example.com - +1(561)325-8757