KELOWNA, British Columbia,
Nov. 23, 2017 /CNW/ -- Marapharm
Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2M0) ("Marapharm"
or the " Company") (http://www.marapharm.com/)
"Marapharm" says that their annual AGM (Annual General
Meeting) in Las Vegas, Nevada, on
November 17, 2017, was well attended
and successful.
The open house that followed was held at the Marapharm facility
in Las Vegas, and showcased
Marapharm's successes thus far as well as allowed for those driving
that success to show their appreciation.
This event was attended by more than 300 shareholders,
investors, and industry leaders who travelled from Canada, Germany, Switzerland, Spain, England, and all over the United States to celebrate Marapharm's
exponential growth in such a dynamic and rapidly expanding
industry.
''The corporate strategy was reaffirmed at the AGM and
we are looking forward to a great 2018. The open house was
fantastic! So many people attended! Marapharm's President,
Brian Lovig, was joined by
Councilman Isaac Barron and
Councilwoman Pamela Goynes-Brown
for the ground-breaking for the third building which is a 65,635
square foot cultivation building," said Linda Sampson, Marapharm CEO.
Photographs of the event are being posted daily on our
website.
EVALUATION
Marapharm engaged Kurt Keating to
do the evaluation of the 65,635 square foot facility located in
Las Vegas. Kurt won 2 High Times
Cannabis Cups in 2014 while cultivating medical cannabis and he has
been consulting, evaluating and growing cannabis for several years.
The market price for this type of marijuana at present is
approximately $2300 wholesale per
pound in Nevada. The evaluation
for the three floors is 22,600 pounds per year. Current pricing and
comparable facilities in Nevada
indicate that revenue from the new 3 story building could
potentially be $50 million gross and
$30 million net, after operating
costs, for the first year of production which is expected to begin
in 2018. (source Kurt Keating).
OTHER NEWS
The Marijuana Business Conference and Expo, the industry's
largest annual gathering, was held in Las
Vegas the week of Marapharm's AGM and Open House.
18,000 cannabis business leaders and investors attended the
conference to listen to the 110+ speakers and interact with the 678
exhibitors that took over 300k square feet of Expo Hall space.
Marapharm partners and employees were among the forward thinking
visionaries who were excited to witness the progression of our
industry.
About Marapharm Ventures Inc.
www.marapharm.com
Marapharm is a publicly traded company 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.
SOCIAL MEDIA:
Facebook: facebook.com/marapharm
Twitter: twitter.com/marapharm
Web Program: marapharm.tv
STOCK EXCHANGES:
Marapharm trades in Canada,
ticker symbol MDM on the CSE, in the
United States, ticker symbol MRPHF on the OTCQB, and in
Europe, ticker symbol 2Mo on the
FSE. Marapharm also trades on other recognized platforms in
Europe including Stuttgart, Tradegate, L & S, Quotnx,
Dusseldorf, Munich, and Berlin.
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.
MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as
they provide the disclosure that is rightly required by regulators
and complying with applicable licensing requirements and the
regulatory framework enacted by the applicable state in which they
operate.
Marapharm owns marijuana licenses in California and Nevada. Marijuana is legal in each state
however marijuana remains illegal under U.S. federal law and the
approach to enforcement of U.S. federal law against marijuana is
subject to change. Shareholders and investors need to be aware that
adverse enforcement actions could affect their investments and that
Marapharm's ability to access private and public capital could be
affected and or could not be available to support continuing
operations. Marapharm's business is conducted in a manner
consistent with state law and is in compliance with licensing
requirements.
Copies of licenses are posted on Marapharm's website. Marapharm
has internal compliance procedures in place and has compliance
focused attorneys engaged in jurisdictions to monitor changes in
laws for compliance with US federal and state law on an ongoing
basis. These law firms inform any necessary changes to our policies
and procedures for compliance in Canada and the US.
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:
Linda Sampson
CEO
+1-778-583-4476
email info@marapharm.com
www.marapharm.com
SOURCE Marapharm Ventures Inc.
