KELOWNA, British Columbia, August 21, 2017 /PRNewswire/ --
Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2M0) ("Marapharm" or the " Company") (http://www.marapharm.com/) announces that two crews are working to complete the construction of two 5000 square foot buildings on the Marapharm cannabis campus in Las Vegas, Nevada. The crews have completed one building shell and the other is progressing quickly. A third crew will be added for around the clock construction as weather permits. Completion is scheduled for on or about October 31, 2017. New construction pictures will be put on the website to update the progress. Marapharm is actively sourcing and preparing plants in addition to ordering extraction and other equipment necessary for cultivation to begin as soon as possible.
"We are moving very quickly to be able to grow and sell cannabis in Nevada. Completing these buildings will allow us to be part of the most exciting cannabis market in the nation. Plans for the landmark 360,000 square foot facility in Las Vegas are underway and we expect that construction will commence soon. Then, watch us grow!"
Linda Sampson, Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm has more than 300,000 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.
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 unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements and are based on reasonable assumptions but no assurance can be given that these expectations will prove to be correct. The forward-looking statements included in this news release should not be unduly relied upon. Furthermore, while completion of construction is scheduled for on or about October 31, 2017, circumstances may prevent completion from occurring on or before that date, or at all.
FOR FURTHER INFORMATION:
SOURCE Marapharm Ventures Inc.