KELOWNA, BC, Sept. 12, 2018 /CNW/ - Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) ("Marapharm" or the "Company") provides an update to shareholders on the status of permitting for final occupancy and continued cultivation in the temporary buildings.
Our contractor, Rafael Construction and Engineer, Pacific Design Concepts are "quarterbacking" their efforts to complete requirements as quickly as possible. Working with the City of North Las Vegas, Fire Department, and general contractors to conclude the final permitting necessary for our Certificates of Occupancy. Many of the city departments including Planning, Building Inspection and Fire have been extremely short staffed which have contributed to delays.
Kurt Keating, Director of Operations, reports: The existing vegetative plants are flourishing and vibrant. We are preparing our core genetics for propagation by increasing our plant count to meet our production cycle demands, in preparation for transitioning to the new buildings.
Over 100+ varieties of supplemental genetics in seed form have recently been added to our inventory. In addition to our core offerings, these supplemental genetics will be limited time offerings (LTO), seasonal offerings and special releases to keep pace with market demand and keep Marapharm ahead of the competition.
We're greatly anticipating our transition to full production. Our cultivation and compliance teams are building the future for Marapharm each day. Our objective is grand and achievable; we will focus on classic, award winning, and new varieties for the Vegas market all cultivated under certified organic protocol to ensure customer satisfaction and safety. Kurt Keating, Director of Operations.
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.
Twitter: twitter.com/marapharm Web
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]