KELOWNA, BC, Aug.14, 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 appointment of Mr. Rahim Mohamed to serve on the board of directors.
Mr. Rahim S. Mohamed currently serves as CEO of APPx Crypto Technologies Inc., a reporting issuer company developing a retail loyalty platform called CatchCoin and APPxPay. APPx Crypto Technologies Inc. also mines cryptocurrency, bitcoin and altcoins, including Bitcoin Cash, Ether, and Litecoin. In addition, the company develops custom blockchain solutions that protect users and businesses. Mr. Mohamed has also served in the capacities of President, CEO and Internal Auditor for multiple private and public companies.
For several years Mr. Mohamed was General Manager at IR Consultants Inc. in Calgary, Alberta where he provided expertise in handling major investor relations and media relations and financings with subject matter experts and key decision-makers at all levels of matrixed organizations. He received his Exempt Market Products Certification in 2010 and is a current member of the Exempt Market Dealers Association of Canada.
Mr. Mohamed currently sits on the boards of APPx Crypto Technologies Inc, and AGAU Resources Inc. He holds a degree in (Management) Commerce from Athabasca University in Calgary.
He has a solid background in the development and execution of successful strategic communication plans, high-impact communication initiatives and effective operational processes for the rapid delivery of corporate alignment and improvements
Mr. Mohamed was born in Vancouver, British Columbia however, frequent business travel has accrued him extensive exposure to cross-cultural dynamics and international business practices in Asia, Africa, Europe, Middle East, Caribbean and North America.
Marapharm is also announcing that Mr. Alexander and Mr. Nieken have resigned from their positions as Independent Directors. Mr. Dixon's appointment to the Board, announced on June 21, 2018 was not effective. The board wishes to thank Mr. Nieken and Mr. Alexander for their contributions.
The Board has commenced a formal process to appoint a fourth independent director. The Nominee will be evaluated to ensure that they bring a wealth of experience and business acumen, that will be directly relevant to Marapharm's future development, market strategy and operational excellence.
"We are delighted to have Mr. Mohamed join us. We are confident that his experience will add balance to the board and that his contributions will benefit the Company as we continue to transition to the next phase of our development." Linda Sampson, President & 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.
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]