Marapharm Ventures Inc. 'Marapharm' Provides Updates on Construction of Cannabis Facilities
KELOWNA, British Columbia, July 25, 2017 /PRNewswire/ --
Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2M0) ("Marapharm" or the "Company") (http://www.marapharm.com/ ) announces that demolition within the 30,000 square foot facility located on it's 13.6 acre cannabis campus in Washington state is 60% complete. It's estimated that all demolition will be completed by August 7, 2017. Electricians are determining fire and power services for the next phase to build out the facility for cultivation and processing and plans for the redesign are completed. The final harvest of a cannabis crop in the existing facility was Friday, July 21, 2017, in order to facilitate the final part of the demolition and for the new construction to commence. Cultivation and processing of recreational marijuana will resume when construction is complete and will then be in the entire facility. Construction photos are posted on marapharm.com .
Marapharm announces that in Las Vegas, NV on its 7 acres that construction on 2 starter buildings of 5,000 square feet each is progressing, photos are posted on marapharm.com . Electrical and rebar inspections are done and the steel erector will be on site Wednesday July 26, 2017 to begin the assembly process.
"Plans for the 360,000 square foot facility in Las Vegas and plans for additional buildings located on the 13.6 acres we own in Washington are nearing completion and it's expected that construction will be able to commence soon in each location. Then, watch us grow!" Linda Sampson, Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm has more than 350,000 square feet of medical marijuana licenses for its land and facilities in WA, CA and NV. In Nevada, the proposed building footprint is 360,000 square feet. The Nevada Department of Agriculture report by Tessa Rognier states that the average size of a cultivation facility in Nevada is 26,000 square feet. About three 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. Marapharm owns 15 million shares and warrants of Veritas Pharma Inc., a public company.
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 the SEDAR website (http://www.sedar.com -) under the profile for Marapharm Ventures Inc.
STOCK EXCHANGES:
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.
The Investment Industry Regulatory Organization of Canada (IIROC) has approved the contents of this news release.
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.
FOR FURTHER INFORMATION:
http://www.marapharm.com
Linda Sampson, CEO
+1-778-583-4476
email: [email protected]
SOURCE Marapharm Ventures Inc.
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