CSE: MDM FSE: 2Mo OTCQB: MRPHF
KELOWNA, BC, Nov. 8, 2017 /CNW/ - Marapharm Ventures Inc., ("Marapharm") announces closing of the second tranche of the private placement offering ("offering") of up to 80,000,000 common share purchase warrants ("warrants") at a price of $0.10 per warrant. The tranche closed on October 31st, with proceeds totaling $696,528.00 from the sale of 6,965,281 warrants. The previous tranche was announced September 27, 2017, bringing the combined proceeds to date up to $2,421,965.00 from the sale of 24,219,651 warrants. Final paperwork and regulatory filings are being completed for the remaining tranches and the final tranche will close on December 31, 2017.
"Closing an offering takes a tremendous amount of time, due diligence, and regulatory filing, therefore closing tranches has been challenging for the team who is performing daily operations at high volume. There's no dilution to stockholders while providing working capital for Marapharm so the work is well worth it!" Linda Sampson, Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm is a publicly traded company primarily investing in the medical and recreational cannabis space, with corporate operations based in British Columbia, Canada. Since 2016 they have rapidly expanded their footprint to include production locations in the key North American states of Washington, Nevada, and California. They actively seek expansion opportunities worldwide.
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.
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]