KELOWNA, British Columbia, May 24, 2017 /PRNewswire/ -- Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2MO) ('Marapharm' or the 'Company') (http://www.marapharm.com/) announced on May 23, 2017 that 2 modular buildings were on site with occupancy permits and that this temporary measure was done to meet state requirements for recreational marijuana licensing.
The modular buildings will also be used to facilitate the start of genetics that will be used in the 5,000 square foot buildings once they are complete, allowing the company to accommodate for the time lost during these delays and advance the timing on cultivation. All permits have finally been approved for the starter buildings and construction is commencing. Once in production, it is estimated that these buildings will be able to generate revenue of $9.9 million per year. Source: market evaluation by Kurt Keating who won two High Times Cannabis Cups in 2014 while cultivating medical cannabis. He has been consulting, evaluating and growing cannabis for several years.
"Marapharm is transforming from a development company to a marijuana producing company," Linda Sampson, CEO, Marapharm.
About Marapharm Ventures Inc. http://www.marapharm.com
Marapharm has 300,000 square feet of medical marijuana licenses for its land and facilities in WA and NV. 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.
Marapharms common shares are publicly traded in Canada, under the ticker symbol 'MDM' on the Canadian Securities Exchange, and in the United States, under the ticker symbol 'MRPHF' on the OTCQB, and in Europe, under the ticker symbol '2M0' on the FSE.
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.
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