Rising Demand From Cannabis Recreational and Medicinal Users Fueling Canadian Marijuana Market
PALM BEACH, Florida, December 5, 2016 /PRNewswire/ --
Canadian Companies within the legal marijuana and cannabis sector are actively expanding operations as demand in the multi-billion dollar market continues to skyrocket globally. Active companies in the cannabis sector this week include: Marapharm Ventures Inc. (CSE: MDM.CN), OrganiGram Holdings Inc. (TSX-V: OGI), Aphria Inc. (TSX-V: APH), Aurora Cannabis Inc. (TSX-V: ACB) and Veritas Pharma Inc. (CSE: VRT.CN).
Marapharm Ventures Inc. (CSE: MDM.CN) (OTCQB: MRPHF) Marapharm Ventures Inc. announces that it is paying the Nevada Title, Escrow Agent, for full payment and discharge of the first mortgage financing on 5.9 acres located in Apex Industrial Park, Las Vegas, Nevada. In addition Marapharm is paying cash without debt for the previously announced addition of 1.1 adjoining acres. Read this full Press Releases and recent news for Marapharm at http://marketnewsupdates.com/news/mrphf.html
"We've received several million dollars recently from warrants being exercised by loyal shareholders with more coming in daily, and we decided to pay off our debt, which is this one mortgage. We paid $445,500 USD for the property and financed $309,000. In addition we paid taxes and fees and posted about $100,000 for wet and dry utility bonds. We've also done improvements on the site and have invested more than $100,000 on site and facilities planning. And we've paid for buildings that are to be delivered within 3 weeks and erected for cultivation. The monthly mortgage payments were $2,785.22" said Linda Sampson, Marapharm CEO and she added "paying off a relatively small mortgage and paying $110,000 cash for the 1.1 acres may not sound like a big deal but to us the significance is that we did what we planned to do in terms of reaching our milestones."
"With more than 50 million adult visitors each year, Las Vegas is the known as the best cannabis play in the world. Marapharm chose Las Vegas and Nevada for its model and for a place we wanted to be for doing business. There's no state corporate income tax, there's no personal income tax, there's City tax concessions, there's excellent State incentives and we are located in a logistical hub of 11 state regions. Further there's an educated and cost effective workforce and a superior telecommunications infrastructure. So we believe that we are in the right place at the right time" says Linda Sampson. Marapharm CEO.
Marijuana/Cannabis sector performances of note include:
OrganiGram Holdings Inc. (TSX-V:OGI.V) is pleased to recently announce it has completed the design work related to a proposed addition to the onsite production building located at 35 English Drive in Moncton, NB. The preliminary design and drawings provide sufficient additional space to facilitate incremental production capacity of approximately 9,000 kg per year. When combined with the previously announced and ongoing expansions to both buildings, this new addition brings the total proposed production capacity at OrganiGram to approximately 26,000 kg per year.
Aphria Inc. (TSX-V: APH.V) closed up slightly on Friday at $5.40 trading just over 1.5 Million shares by the market close. Aphria, one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions available. We are committed to providing pharma-grade medical cannabis, superior patient care while balancing patient economics and returns to shareholders.
Aurora Cannabis Inc. (TSX-V: ACB.V) is pleased to recently announce that it has broken ground, and initiated construction on an unprecedented 800,000 square foot production facility. To be known as "Aurora Sky", the new hybrid greenhouse facility, with a footprint larger than 16 football fields, is expected, on completion, to be the largest, most advanced and most automated cannabis production facility in the world. Situated on 30 acres of leased land in Leduc County, Alberta , management anticipates Aurora Sky to be capable of producing in excess of 100,000 kilograms of high quality, low cost cannabis per year. The location of the new facility provides unrivaled access to transportation, industrial infrastructure, power, water, gas, and courier services.
Veritas Pharma Inc. (CSE: VRT.CN) closed up over 14% on Friday closing at $0.36. Veritas Pharma Inc. is an emerging-stage pharmaceutical and IP development company, who, through Cannevert Therapeutics Ltd. (CTL), is advancing the science behind medical cannabis. It is the Company aim, through its investment in CTL, to develop the most effective cannabis strains (cultivars) specific to pain, nausea, epilepsy and PTSD, solving the critical need for clinical data to support medical marijuana claims.
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