PALM BEACH, FL, Nov. 16, 2016 /CNW/ - With the demand for various facets of the cannabis market exploding behind momentum from this past election cycle, cannabis and legal marijuana based companies are also taking advantage of the upswing by positioning for rapid expansion and introduction of innovative products and services. Active in the cannabis sector today include: Marapharm Ventures Inc. (OTC: MRPHF), Terra Tech Corp. (OTC: TRTC), General Cannabis Corporation (OTC: CANN), Cannabics Pharmaceuticals Inc. (OTC: CNBX) and Aurora Cannabis Inc. (OTC: ACBFF).
Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) announces that it has entered into an agreement to purchase an industrial facility in southern California and three (3) medical marijuana licenses for manufacturing, cultivation, and retail uses. The land size is 40,510 square feet and the existing building size is 6,875 square feet, with a 19-foot-ceiling clearance, for a purchase price of $3.2 million USD, based on $450 USD per square foot for the building and $65 USD per square foot for the land. The yard area is paved and suitable for greenhouse growing. The purchase is subject to, and contingent upon, completion of satisfactory due diligence, including background checks, and closing documentation for the issuances of the three (3) licenses to Marapharm within 120 days, with the closing to take place 120 days from the removal of contingencies.
Read the full Marapharm Press Release at: http://marketnewsupdates.com/news/mrphf.html
"We are really excited to have such a prize property as well as three licenses, and to be in the California market. The 'Yes' vote in California is significant for a number of reasons: (i) California, if it were a stand-alone state, would be the 6th largest economy in the world, with a population of 40 million people, and (ii) this decision means the entire West Coast of the United States has legalized recreational marijuana. Once Canada is legal, the West Coast all the way from Mexico to Alaska will be legal, so the opportunity is huge," says Linda Sampson, Marapharm CEO.
Marapharm has 300,000 square feet of medical marijuana licenses, 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, having since 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, known as ACMPR.
In other sector news and developments:
Terra Tech Corp. (OTCQX: TRTC), a vertically integrated cannabis-focused agriculture company, recently announced its third quarter 2016 financial results for the period ending September 30, 2016. Derek Peterson, Chief Executive Officer of Terra Tech, commented, "We are encouraged to see our strategy to expand Terra Tech's retail presence in core target markets drive top line growth, with revenues reaching $7.0 million in the third quarter of 2016, representing a 244% increase compared to the prior year period.
General Cannabis Corporation (OTCQB: CANN), the comprehensive resource to the regulated cannabis industry, will host a major presence at one of the marijuana industry's premier conferences of the year, the Marijuana Business Conference and Expo, in Las Vegas. Nearly all the General Cannabis' staff, management and executive team will present and highlight the company's services and business solutions to more than 7,500 industry leaders during the event, scheduled from November 16-18.
Cannabics Pharmaceuticals Inc. (OTC Pink: CNBX) closed up over 4% at $0.7885 by the market close. Cannabics Pharmaceuticals announced back in October that results from the company's latest cancer HTS research overtly conclude that, depending upon the THC/CBD ratio, specific Cannabis extracts are directly contributive to reducing U87MG glioblastoma cell viability. The Company expects that results on additional types of cancers will be attained during December 2016.
Aurora Cannabis Inc. (OTCQB: ACBFF) wholly owned subsidiary, CanvasRx, Canada's largest network of cannabis patient counseling centres, continues to expand its leadership in patient outreach and registration. CanvasRx has now helped over 13,000 patients register with Licensed Producers, including more than 2,500 patients registered with Aurora. This represents growth in patient registration in excess of 30% since being acquired by Aurora in August, 2016. CanvasRx now has 20 locations across Canada , including Edmonton and Calgary . Five more locations are planned to be opened before the end of 2016.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated three thousand nine hundred dollars for news coverage of the current press release issued by Marapharm Ventures Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
For further information: Media Contact email: [email protected] - +1-(561)325-8757