Ms. Linda Sampson reports
MARAPHARM VENTURES INC. ANNOUNCES IT'S BEEN ADDED TO THE UNITED STATES MARIJUANA INDEX
Marapharm Ventures Inc. has been added to the United States Marijuana Index. The North American Marijuana Index, composed from the United States Marijuana Index and the Canadian Marijuana Index, tracks the leading cannabis stocks listed on North American stock exchanges. The North American Marijuana Index level in April, 2016, was 50, and in April, 2017, the index level is 150, an increase of approximately 200 per cent. In order for a company to be in the index, the criteria include having a weighted-average minimum market daily trading volume of $600,000.
A stock market index is a measurement of the value of a section of the stock market. It is computed from the prices of selected stocks. It is a tool used by investors and financial managers to describe the market and to compare the return of specific investments.
"Marapharm is pleased to be part of this important index, which is the voice of credibility for the rapid development of the marijuana sector. We are executing on our plans, by bringing the Nevada facility into production, capitalizing on the real estate acquisition in Washington, have property and permits in California, and will continue to look for additional opportunities for cultivation and production licences and facilities in the United States. In addition, our investment in Veritas Pharma continues to provide synergy, and our investment has more than doubled in value within three months."
Marapharm has 300,000 square feet of medical marijuana licences for its land and facilities in Washington and Nevada. About 2-1/2 years ago, Marapharm applied in Canada to Health Canada for a Marihuana for Medical Purposes Regulations (production and sales) licence, 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, Access to Cannabis for Medical Purposes Regulations.
We seek Safe Harbor.
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