Marapharm has had 2 more recreational marijuana licenses approved. A cultivation, as well as, a production license for edibles and oils has been issued. Business licenses have also been approved and issued by the City of North Las Vegas.
Marapharm announced June 29, 2017 that one recreational license had been approved and issued.
Marapharm now holds 3 recreational marijuana licenses for 290,000 square feet of cultivation and production in Las Vegas, Nevada. In addition, 35,000 square feet of rooftop greenhouse canopy has been approved which is a multiple greenhouse system for the roof. Marapharm has more than 300,000 square feet of recreational marijuana licenses.
“This is a big milestone for us! Recreational sales are legal in Nevada on July 1, 2017. There are more than 50 million adult tourists a year to Las Vegas. As far as we know, Marapharm is the largest recreational license holder in the state of Nevada. We will grow and sell cannabis from the existing modular buildings. Construction of our main buildings are underway, photos are on our website.” Linda Sampson, CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm has more than 350,000 square feet of medical marijuana licenses for its land and facilities in WA, CA and NV. In Nevada, the building footprint is 360,000 square feet. The Nevada Department of Agriculture report by Tessa Rognier states that the average size of a cultivation facility in Nevada is 26,000 square feet. About three years ago, Marapharm applied in Canada to Health Canada for a MMPR (production and sales) license and has passed the necessary security clearances. The application is currently in the in-depth screening process. In September 2016, Health Canada contacted Marapharm with a provision to amend its application to allow for the new regulations, ACMPR. Marapharm owns 15 million shares and warrants of Veritas Pharma Inc., a public company.
Additional information on the operations or financial results of Marapharm are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (www.thecse.com), the OTC website (www.otcmarkets.com), and the SEDAR website (www.sedar.com) under the profile for Marapharm Ventures Inc.
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Marapharm trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQB, in Europe, ticker symbol 2M0 on the FSE.
The Investment Industry Regulatory Organization of Canada (IIROC) has approved the contents of this news release.
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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.