Marapharm Ventures Inc. recently commenced the purchase of two industrial properties in Desert Hot Springs, California. The first has a land size of 7.02 acres, zoned for cannabis cultivation and the planned building size is 102,125 sq ft, including space for a 26,000 sq ft greenhouse. The second has a land size of 1.22 acres, also zoned for cultivation and a proposed building that is 29,193 sq ft, with the potential for a 12,782 sq ft greenhouse. Both properties will hold 2 licenses for processing and cultivation. In addition to these two properties Marapharm has purchased a medical cannabis delivery service, which has been branded Marapharm Delivery Co-operative Inc.
California has a long history of using Medical Cannabis, being the first state to legalize its medical use. California also recently passed a bill to legalize the sale of recreational cannabis and has the potential of becoming the top region for cannabis sales in the United States. Marapharm is poised in a position to take advantage of this opportunity.