KELOWNA, BC, Aug. 10, 2017 /CNW/ - Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2M0) ("Marapharm" or the " Company") (http://www.marapharm.com/) is pleased to announce that it is locating administration and executives to Las Vegas, Nevada to be proximate to the company's rapidly expanding base of operations in the United States.
"A move to centralize our U.S. executive offices has been our plan all along and it is exciting to place our stake in the ground in such a vibrant and welcoming city. Las Vegas is strategically located for business travel to Marapharm operations in Nevada, California, Washington, and abroad. Las Vegas has a great pool of the type of talent we seek - executive, financial, and marketing," according to Marapharm CEO, Linda Sampson.
The move will spur local growth as Marapharm will engage a placement agency in Las Vegas to staff the new corporate office and operation sites throughout North America. Marapharm has also has contracted a local commercial agent for suitable office space. The Las Vegas office is expected to create 10 management jobs and hundreds of additional employment positions, including but not limited to technicians, cultivators, scientists, and processors, for cannabis operations.
Marapharm's head office in Canada will remain focused on acquisitions, the Maragold subsidiary, investments, compliance and corporate governance.
About MARAPHARM VENTURES INC.
Marapharm has more than 300,000 square feet of medical marijuana licenses for its land and facilities in WA, CA and NV. In Nevada, the proposed building footprint is 360,000 square feet. The Nevada Department of Agriculture report by Tessa Rognier states that the average size of a cultivation facility in Nevada is 26,000 square feet. About three years ago, Marapharm applied in Canada to Health Canada for a MMPR (production and sales) license and has passed the necessary security clearances. The application is currently in the in-depth screening process. In September 2016, Health Canada contacted Marapharm with a provision to amend its application to allow for the new regulations, ACMPR. Marapharm owns 15 million shares and warrants of Veritas Pharma Inc., a public company.
Additional information on the operations or financial results of Marapharm are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (http://www.thecse.com ), the OTC website (http://www.otcmarkets.com), and the SEDAR website (http://www.sedar.com) under the profile for Marapharm Ventures Inc.
Marapharm trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQB, in Europe, ticker symbol 2M0 on the FSE.
The Investment Industry Regulatory Organization of Canada (IIROC) has approved the contents of this news release.
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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: Linda Sampson, CEO, +1-778-583-4476, email [email protected], http://www.marapharm.com