KELOWNA, BC, April 16, 2018 /CNW/ - Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) ("Marapharm" or the "Company") is pleased to report, to its Shareholders, the recent positive statements surrounding President Trump's support of states' rights and their own approach to the legalization of marijuana.
In 2013, the Department of Justice (the "DOJ") issued a Memorandum, referred to as the "Cole Memo," which detailed enforcement priorities for U.S. Attorneys in states where marijuana is legal in some form. It set a policy that the DOJ would stay out of these state marijuana programs.
On January 4, 2018, Attorney General, Jeff Sessions rescinded the Cole Memo, initiating outraged responses from both government officials and voters. "Thirty states comprising more than two thirds of the American people have legalized marijuana in some form. The Cole memo got it right and was foundational in guiding states' efforts to regulate the production and distribution of marijuana." Governor John Hickenlooper.
On April 13, 2018, in response to the Department of Justice's January 4, 2018 announcement of Attorney General Jeff Sessions, Senator Cory Gardner, released a statement regarding the status of the Administration's policy toward legal marijuana.
"Since the campaign, President Trump has consistently supported states' rights to decide for themselves how best to approach marijuana.
Late Wednesday, I received a commitment from the President that the Department of Justice's rescission of the Cole Memo will not impact Colorado's legal marijuana industry. Furthermore, President Trump has assured me that he will support a federalism-based legislative solution to fix this states' rights issue once and for all."
Because of these commitments, I have informed the Administration that I will be lifting my remaining holds on Department of Justice nominees. My colleagues and I are continuing to work diligently on a bipartisan legislative solution that can pass Congress and head to the President's desk to deliver on his campaign position." Senator Cory Gardner. https://www.gardner.senate.gov/newsroom/press-releases/gardner-protects-colorados-legal-marijuana-industry
White House legislative affairs Director Marc Short confirmed on Friday April 13th, that Trump "does respect Colorado's right to decide for themselves how to best approach this issue."
Thirty states and the District of Columbia currently have laws broadly legalizing marijuana in some form. Eight states and the District of Columbia have adopted the most expansive laws legalizing marijuana for recreational use. http://www.governing.com/gov-data/state-marijuana-laws-map-medical-recreational.html
Latest Gallup Poll shows record-high support for legalizing marijuana use in the U.S. Americans continue to warm to legalizing marijuana, with 64% now saying its use should be made legal. This is the highest level of public support Gallup has found for the proposal in nearly a half-century of measurement. http://news.gallup.com/poll/221018/record-high-support-legalizing-marijuana.aspx
"The Company continues to remain confident that President Trump will deliver on his campaign promises and heed the voice of American voters concerning individual states' rights regarding the regulations and controls of medical and adult-use cannabis. We are in a position to take full advantage of this burgeoning market with our holdings in Nevada, California and Washington." 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.
SOURCE Marapharm Ventures Inc.
For further information: www.marapharm.com or Linda Sampson, CEO 778-583-4476, email [email protected]