KELOWNA, British Columbia, Aug 29, 2017 /PRNewswire/ -- Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2M0) ("Marapharm" or the "Company") (http://www.marapharm.com/) has entered into an agreement with Stockhouse Deal Room for a virtual, online, private placement offering of warrants.
The Stockhouse Deal Room is an equity investment platform created specifically for public companies to access investors. Stockhouse has more than 1 million unique visitors a month and provides access to a large number of qualified and accredited investors. The private placement offering of warrants is available at Deal Room www.stockhouse.com/dealroom and www.marapharm.com.
Marapharm announced on July 5, 2017, the proposed offering of up to 80 million share purchase warrants. Each warrant will be offered for a consideration of 10 cents (CDN) per warrant for a total of gross proceeds of up to $8 million dollars and are exercisable into one common share for the price of $2.90 per share for a period of 3 years from the date of closing (the "warrants"). The proceeds will be utilized by Marapharm for development and corporate purposes.
"This offering of warrants is unique. There is no immediate dilution and it provides up to $8 million dollars in working capital for Marapharm as well as an opportunity for subscribers to hedge and leverage an investment with a 3-year open window in the future of the company. The warrants would provide Marapharm with an additional $232 million dollars if all were exercised," Linda Sampson, Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm is a publicly traded company on the Canadian Stock Exchange (CSE: MDM, OTCQB: MRPHF) primarily investing in the medical and recreational cannabis space, with corporate operations based in British Columbia, Canada. Since 2016 they have rapidly expanded their footprint to include production locations in the key North American states of Washington, Nevada, and California. They actively seek expansion opportunities worldwide.
Marapharm 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.
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.
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.
There can be no assurance that Marapharm Ventures Inc. will raise the proposed funds in the amounts stated or at all. The funds raised, if any, may also not be used for the purposes stated due to circumstances which may arise at the time of the closing of any offering.
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SOURCE Marapharm Ventures Inc.