KELOWNA, BC, March 8, 2018 /CNW/ - Marapharm Ventures Inc. (CSE: MDM) (OTXQX: MRPHF) (FSE: 2M0) ("Marapharm" or the "Company") is pleased to announce, effective March 5, 2018, the appointment of Corey Klassen as Vice President of Corporate Development. Further, the Company is pleased to announce the appointment Mr. Alexander as an independent Director and Mr. Hanspaul Pannu as the company's new Chief Financial Officer. Corey Klassen will continue in his role as Director, and the Board has been expanded to accommodate Mr. Alexander.
David Alexander: Director
Mr. Alexander is the Chief Financial Officer and Director of Veritas Pharma Inc. Mr. Alexander's past achievements include his role as the CFO of Arakis Energy Corporation, an international oil and gas development company, where he managed the company's growth from start-up to over a billion dollars in assets, leading to a listing on the NASDAQ market. Arakis was subsequently sold to Talisman Energy. He was also CFO of Nortran Pharmaceuticals, Inc., a University of British Columbia based pharmaceutical Research and Development Company engaged in the development and commercialization of cardiovascular therapies. While at Nortran, David helped secure initial and ongoing research financing. Nortran subsequently, became Cardiome Pharma Corp., a successful Vancouver BC based pharmaceutical company (Nasdaq: CRME). David is a Chartered Professional Accountant.
Hanspaul Pannu: CFO
Mr. Pannu has worked in the Canadian small cap public company space for over 5 years providing financial reporting, corporate secretary, listing and general accounting support. He is currently the Chief Financial Officer of Appature Mobile Applications Inc., a blockchain technology and mobile application company and has held or currently holds a senior financial position with LED Medical Diagnostics Inc. (TSX-V: LMD), Aequus Pharmaceuticals Inc. (TSX-V:AQS, OTCQB:AQSZF), Veritas Pharma Inc.(CSE:VRT), Blok Technologies Inc.(CSE:BLK), and Sharc International Systems Inc. (CSE:SHARC). He is a Chartered Professional Accountant.
"As Marapharm moves towards scaled commercial production we have prioritized the need to keep on improving the technical and financial strengths of the team. We are confident that the significant experience in international transactions, knowledge of reporting requirements, and business structuring coming with these two esteemed individuals will help to ensure the execution of our strategy and reliability of our reporting going forwards," commented Linda Sampson, President and 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.
Web Program: marapharm.tv
Marapharm trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQB, and in Europe, ticker symbol 2Mo 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 OTCQB® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQB® 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]