KELOWNA, BC, May 27, 2018 /CNW/ - Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) ("Marapharm" or the "Company") has been asked by OTC Markets to provide clarification regarding recent marketing activities.
On Tuesday May 22, 2018, the OTC contacted the Company regarding distributed promotional material. The Company entered into two investment awareness paid contracts, one on May 15, 2018, with Al and J Media, the other on May 20, 2018, with Link Media LLC, both of which are located on Wall Street, New York. The Company was not directly involved in the dissemination or payment of promotional material.
The material content of the news letters is a compilation of facts gathered from our website, previous news releases and public sources and was reviewed by the Company for accuracy prior to dissemination and distribution by the marketing companies. The Company does not condone material that was included that is speculative in nature and there is no guarantee of an increase in value whether stated as a monetary value or percentage increase in yield. On Tuesday May 22, 2018, there was a marked increase in volume traded.
The purpose of entering into these contracts is to provide consultation, strategic alliances, and introduction to media and advertising agencies. It is understood that contractors will utilize social media platforms, podcasts, newsletters, and advertising to disclose the progress which Marapharm is making with respect to its investment in the cannabis industry in the United States, the "Marapharm Story".
The Company is not aware of any third party, person or shareholder other than the aforementioned contractors, providing marketing at this time. Increased market activity is not the result of selling by any officers, directors or control persons. Insiders, all directors of the Company have exercised 500,000 stock options and purchased 1,734,104 units at $0.865 per unit of the Company in the last 90 days.
The following is a list of Companies engaged over the last 12 months to provide awareness services for the Company:
European Market: Bullvestor, Loud Media, Solar Properties Ltd. American Market: Al and J media, Clear Stock, GS Whitney, Market IQ, Link Media LLC, Pioneer Ventures Inc. Canadian Market: Hilltop Business Center Ltd. In House: Jason Shepherd (Investor Relations), Ikardia Ventures Inc. (creation of Marapharm TV) and CNW (News dissemination)
All of the above was paid cash on invoice or were issued shares at market value for their services, with the exception of Solar Properties Ltd., Pioneer Ventures Inc., and Hilltop Business Center, who were engaged in September 2016, on a contract at $0.73c per share. The second issuance of shares for their services to these companies was in February 2017, when the share price in the market had increased to $1.69c per share.
"We are at a culminating moment in the development of our Company and our role in this historical cannabis movement. We look forward to our engagement with these two successful firms who will share our progress with a much broader audience". 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 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]