KELOWNA, BC, May 24, 2018 /CNW/ - Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) ("Marapharm" or the "Company") the Company advises shareholders on the scheduled timeline of the remaining final inspections of its Las Vegas, Nevada facilities.
On May 30th, the commissioning and 72-hour mandatory testing of our environmental control equipment will be performed. Water technicians, electricians and the Surna specialists are required to be on standby for collaboration at the site, synchronizing systems while the lights are "burned-in". This calibrated inspection process determines the necessary adjustments of the equipment to perfect the regulation of temperature and humidity, thereby creating state-of-the-art environmental climates. During this time, Marapharm staff will undergo training on the operation of the equipment to optimize energy efficiency.
On June 1st, the State of Nevada, Department of Taxation is scheduled to perform their follow-up final compliance inspections on both facilities. This incorporates a review of security processes, standard operating procedures (SOP's) state regulated inventory control and seed to sale systems. The Company is currently in compliance with these state requirements in our temporary buildings.
On June 4th, the City of North Las Vegas Building Department, the North Las Vegas Fire Department and the Public Works Department will perform their final inspections to "sign-off" on the Certificates of Occupancy, permitting us to transfer our genetics to the new cultivation facilities.
"It was only one year ago that there were no permanent buildings or utilities on our site and our team was rushing to complete the temporary buildings. This was necessary to meet all state and city regulatory requirements to facilitate our recreational licences, which were approved last May, 2017.
Much has been accomplished! I am so grateful for the hard work and adaptability of our team, contractors, and the continued encouragement of our shareholder support in this constantly evolving industry". 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]