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Marapharm Ventures Announces an Acquisition in California

February 20, 2017

 

Kelowna, British Columbia -- /D.M.O. Newswire/ -- Marapharm has entered into an agreement to purchase a Medical Delivery Service with the specific and limited purpose to deliver, facilitate or coordinate cannabis transactions between qualified patients and caregivers. The delivery service is located in Rancho Mirage, located in the Coachella Valley, California. The Valley connects with the Greater Los Angeles area to the West, population 19,000,000. The population of the valley is 500,000 and in addition has 3.5 million annual conventioneers and tourists.

 

Marapharm purchased 80% of the shares of Moringa Cooperative, Inc. "Moringa" and 20% ownership remains with the founding group, who will continue to operate the business. Presently the DBA (doing business as) is MedicalDriveBy and a change to Marapharm Delivery or other names is being considered. Terms of the transaction are $300,000 US. Additional funds may be required for further delivery vehicles, expansion and working capital. Moringa is a cooperative corporation organized under the California Consumer Cooperative Corporation Law. The purpose of the corporation is to engage in any lawful activity and specific to cannabis transactions in California.

 

"Delivery services for cannabis are a big profit business in other locations in the United States and we're excited for our first one to be in California. Marapharm's business model is to be part of the entire marijuana experience in different States and countries, to grow it, sell it and now to deliver it. This is great diversity!" Linda Sampson, Marapharm, CEO.

 

Marapharm announces the granting of options to directors, consultants and or officers of 300,000 options exercisable for a period of 3 months at an exercise price of $1.40 and a further 800,000 options exercisable at $2.50 for 4 months.

 

ABOUT MARAPHARM VENTURES INC.

 

www.marapharm.com

 

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.

 

Marapharm has 300,000 square feet of medical marijuana licenses for it's land and facilities in WA and NV and about two and a half 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. 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 (www.thecse.com), the OTC website (www.otcmarkets.com) and Sedar website (www.sedar.com) under the profile for Marapharm Ventures Inc.

 

FOR FURTHER INFORMATION:

 

www.marapharm.com or Linda Sampson, CEO, 778-583-4476, email info@marapharm.com

 

STOCK EXCHANGES:

 

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.

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.