KELOWNA, BC, Aug. 21, 2018 /CNW/ - Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) ("Marapharm" or the "Company") a public company with substantial medical and adult-use cannabis assets in the United States and Canada, is very pleased to announce the fully funded operating agreement with Full Spectrum Medicinal Inc. ("FSM"), a company incorporated in the province of British Columbia.
Marapharm has taken immediate action to amend two items on its late- stage Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR") application. The Company is currently amending the location for its license application to Celista, BC, FSM's 40-acre site, 1 hour from Salmon Arm and the new appointment of a Quality Assurance Person (QAP).
10 - 10,000 sq. ft. engineered bio-secure facilities, which have been fully funded by FSM, will be constructed in two phases, ultimately maximizing the potential of our 100,000 sq. ft. ACMPR licence once approved by Health Canada. Ground preparation on the site began on August 15th. To view images, video and on-going construction progress, please visit www.marapharm.com
"As a Canadian based company, we are confident about the demand and anticipated size of the Canadian cannabis market. This strategic alliance is mutually beneficial and will bring great shareholder value." Linda Sampson, CEO
Using conscious cultivation methods, the facilities will use supplemental power generated by utilizing all waste produced from cultivation. This is achieved using a Vapor Thermal Carbonization System (VTCS) and through combination with our organic food delivery system and energy efficient lights, we will meet and exceed the curriculum of organic consumption. Our goal is to set the standard for premium quality cannabis using an organic method of growing, optimizing a re-engineered system, reducing labor requirements and increasing production.
FSM has developed advanced, stand-alone, proprietary technology utilizing photomorphogenesis. Photomorphogenesis is the process by which a plants growth and development is controlled by light manipulation. "Our technology allows for complete control of spectral emissions which communicate with the DNA of plants using specific algorithms, in combination with spectral frequency algorithms, triggering antagonistic and degenerative responses to pathogens, mold and mites." Richard Huhn, CEO of FSM.
"Coupled with our shared organic methodologies and FSM's advanced technological practices, we simply could not be better positioned to expand on these technologies across all of our licenses both here in Canada and the U.S. This particular model serves to provide us with a superior level of reducing production costs while maximizing output of top shelf product." 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.
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]