KELOWNA, BC, Feb. 14, 2018 /CNW/ - Marapharm Ventures Inc., ("Marapharm" or the "Company") is very pleased to announce that it has closed on the acquisition of an operational dispensary, Green Leaf Wellness in Desert Hot Springs, California, as previously stated in news releases on November 27th, December 20th, 2017 and in the Company's corporate update on January 1st, 2018.
Green Leaf Wellness "GLW" is an established dispensary with a successful medical cannabis history. It has provided valuable support to local patients and veterans in the community and has been successful in developing long lasting relationships in the community with innovative communication, marketing and social media.
The dispensary is within 4 miles of Marapharm's two cultivation facilities which are currently in the planning and development stage. The location is off of the I-10, a major freeway between Phoenix and Los Angeles with a traffic count of approximately a quarter million cars a day.
Current management will be staying on to support a positive and seamless transition for staff and patrons. Marapharm looks forward to launching a new website, multi social media presence, and "uplifting" the store to better serve both medical and recreational visitors, with the highest quality cannabis products, excellent standards and product knowledge.
"California's cannabis market is expected to soar to $5.1 billion — and it's going to be bigger than beer." http://www.businessinsider.com/california-legalizing-weed-on-january-1-market-size-revenue-2017-12
Desert Hot Springs located in the Coachella Valley, has a population of approximately 800,000. The valley welcomes 3.5 million tourists a year and is home to the famous annual Coachella Music Festival. A large percentage of residents are 60+, which is the fastest growing cannabis demographic in the US.
"The dispensary is the first subsidiary of Marapharm to provide a steady revenue stream for the company and we look forward to a positive management transition with Green Leaf Wellness." 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.
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 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 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 and 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 firstname.lastname@example.org