KELOWNA, BC, April 24, 2018 /CNW/ - Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) ("Marapharm" or the "Company") is encouraged with the escalation of support at the federal level in the U.S. with the latest proposed Bill by Senator Chuck Schumer.
Senate Minority Leader Chuck Schumer announced on April 20, 2018, his support - for the first time - for decriminalizing marijuana at the federal level, as well as plans to introduce new legislation in the United States Senate to do so. Specifically, Leader Schumer's legislation would remove marijuana from the list of scheduled substances under the Controlled Substances Act, effectively decriminalizing it at the federal level.
"A staggering number of American citizens, a disproportionate number of whom are African American and Latino, continue to be arrested every day for something that most Americans agree should not be a crime, Meanwhile, those who are entering into the marijuana market in states that have legalized are set to make a fortune. This is not only misguided, but it undermines the basic principles of fairness and equal opportunity that are foundational to the American way of life." Senate Minority Leader Chuck Schumer. https://medium.com/@SenSchumer/why-i-changed-my-stance-on-marijuana-2fde12086c35
This year for the first time, a majority of Republicans expressed support for legalizing marijuana; the current 51% is up nine percentage points from last year.
"Polls show that the majority of citizens in Canada and the U.S. and many countries globally, have demanded some form of legalization or at least decriminalization of Cannabis. Political officials and leaders of these great countries are taking a stand behind their citizens and echoing their demands for legalization." Corey Klassen, VP of Corporate Development.
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.
Web Program: marapharm.tv
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.
SOURCE Marapharm Ventures Inc.
For further information: www.marapharm.com or Linda Sampson, CEO, 778-583-4476, email [email protected]