KELOWNA, British Columbia, November 24, 2016 /PRNewswire/ --
Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2M0) ("Marapharm") announces, the purchase of automated cannabis machines ("ACM") which will be branded "Marapharm ACM". The ACM system provides for point-of-sale transactions, inventory management, secure product storage, enhanced availability of product, privacy, and a reduction in labor costs.
Initially, ACMs will be located within retail outlets or dispensaries in Washington and Nevada. ACMs will stock and only sell Marapharm products in states where Marapharm owns the cultivation facilities and is permitted to act as a retail dispenser. In other areas, the machines will be leased to growers or will occupy floor space in retail outlets and dispensaries under revenue participation agreements.
Marapharm has ordered and paid for 2 pilot ACMs, with delivery expected to take place in January 2017. Photos of an ACM can be seen on Marapharm's website, at http://www.marapharm.com. "Bank machines work well inside a bank so it's reasonable to think that a cannabis machine will work well inside a cannabis store. Our machines are a state of the art way for dispensaries to reduce staffing requirements and fulfill orders in a compliant and expeditious manner. ACMs may prove to be lucrative for the company as an additional source of revenue", says Linda Sampson, CEO and director of Marapharm.
ABOUT MARAPHARM VENTURES INC.
Marapharm has 300,000 square feet of medical marijuana licenses and 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.
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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.
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SOURCE Marapharm Ventures Inc.