KELOWNA, BC, July 27, 2018 /CNW/ - Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) ("Marapharm" or the "Company") announced on June 1, 2018, that cloning had begun in preparation for the transition to the permanent facilities.
Kurt Keating, Director of Operations, reports that several hundred clones have taken root over the past eight weeks in our transitional buildings and are exhibiting vigorous growth. "Our Cultivators are in the process of a secondary 'cutting' of clones to commence a perpetual harvest schedule. We remain on track and do not anticipate delays to our production schedule."
Subsequent to the Company's June 14, 2018 news release, the City of North Las Vegas determined the following minor adjustments are required prior to the final granting of the Certificates of Occupancy:
Outdoor lighting provided by street light standards within the property boundaries, are complete and operational. However, two off-site street light standards on the roadway leading to the Marapharm property remain unpowered and the Company is working on either getting this requirement waived by the City or providing a temporary power source to the lights.
The (2) 2,000-gallon propane tanks were originally approved for their size and installation method, however, the City has amended their requirements to include an engineered bolt system to anchor the tanks to the slab. The slab is already constructed and the propane tanks in place according to the original engineered specifications. The propane tanks can be viewed by the drone footage provided on the Marapharm website under the Las Vegas Project, however given the City's recent requirements the new bolt system has been fabricated and waiting installation upon the City approval of the new drawings and permit.
Adjustments were made to the fire protection system and the inspection is complete. We have received verbal approval from the City for the design of the suppression flow and are waiting on our written permit, which is imminent.
Additional stop signs and parking signs were required and installation of these are now complete.
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]