KELOWNA, BC, Dec. 27, 2017 /CNW/ - Marapharm Ventures Inc., "Marapharm" is expediting the remaining construction tasks at the Las Vegas facility to complete the 10,000 square feet of cultivation and production space to prepare for cultivation, extraction, edible production and sales of cannabis. Marapharm paid $565,000 USD for specialized HVAC systems which increase efficiency and reduces operating costs. These systems have now been delivered and are being installed. The drywall and all remaining tenant improvements can now be completed. Installation of the fire sprinkler system is complete. Genetics continue to thrive and have been cloned for phenotype farming. Two clones from each mother are being grown to full maturity in order to determine which phenotype will be selected for permanent production. The plants will be transitioned from the interim buildings to the permanent buildings in January, 2018.
Perimeter security is being provided by an 8 foot black beta wire mesh fence with access provided by 24 foot sliding gate
s, a double swing gate and pedestrian gates, all with key pad access.
The ground work is prepared for the 65,625-square foot building which has been ordered from American Buildings, based in Carson City, Nevada. This is the third building for the property. There will be a total of 4 buildings equaling 380,000 square feet on completion of the build-out.
"We are just about there! There have been delays with deliveries of core equipment but now everything is on site. Marapharm soon will be cultivating cannabis in the hottest adult use market in the world! The average spot price for marijuana in Nevada is $2520.00 a pound, the highest price in the country. Demand is stronger than ever in Nevada." Linda Sampson, CEO, Marapharm
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.
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 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.
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]