KELOWNA, BC, April 13, 2018 /PRNewswire/ - Marapharm Ventures Inc. (CSE:MDM) (OTC:MRPHF) (FSE:2M0) ("Marapharm" or the "Company") has re-formulated each of its ten Maragold skin care line products to include organic, high-potency, organic Cannabidiol ("CBD").
Marapharm has taken a discerning approach for the development of its Maragold products and are positioning the Company pending the legalization of CBD use in Canada.
While CBD is legal in some form in 50 US states, the Canadian Government has passed its recreational legalization bill, which will come into effect on July 1, 2018, which will erase the necessity to obtain prescriptions for CBD, as well as provision of cannabis federally to its citizens for everyday use.
The first three products to be launched in our California retail dispensary will be Summer Rescue, an after-sun serum, and two versions of Sugar Baby, a full body moisture oil, one for light to fair skin and one for darker skin tones.
Our formulas include a profusion of organic essential oils, rich in vitamins, natural emollients which are essential to the health of the skin and cell membranes. A high-potency full spectrum, organic CBD oil with a CBD, CBG, CBC, CBN cannabinoid, profile extracted using full plant extraction methods.
The Hemp Business Journal, estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year.
Announced on April 10, 2018, by news release, the Company will introduce organic Cannabidiol ("CBD") health and wellness products, to its first retail dispensary (www.greenleafwellnessdhs.com) in Desert Hot Springs, California, on May 1, 2018.
``I have been involved with the Maragold process since its inception in 2015. Time has been invested in the ongoing re-formulation process of the product line. Study groups who have used the products have experienced marked improvement in the rejuvenation of their skin tone, texture, increased hydration and healing.`` Linda Sampson, CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Marapharm has rapidly expanded to include having cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.
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Marapharm trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQX, and in Europe, ticker symbol 2M0 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 OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQX® 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 US federal law and the approach to enforcement of US 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.