Ms. Linda Sampson reports

MARAPHARM VENTURES INC. REPORTS ON PROGRESS IN NORTH LAS VEGAS, NEVADA

Marapharm Ventures Inc. provided on May 24, 2018, by news release, the timeline of its final inspections to obtain the certificates of occupancy for its cultivation facilities in North Las Vegas, Nev.

On June 4, 2018, a member from the State of Nevada's Department of Taxation met with Kurt Keating, director of operations, to perform a walk-through of both buildings. Final approval from the state will be granted, contingent on the city providing the certificates of occupancy.

The Public Works Department is satisfied that the company has met its criteria successfully and have acknowledged all utilities are installed to code.

Final adjustments are being made to the fire suppression system, which required testing of sensors and relays. Once complete, the North Las Vegas Fire Department approval allows the building inspector to recommend issuance of this permit.

The City of North Las Vegas's Building Department is on standby to sign off on the pending certificates of occupancy. Upon approval, the State of Nevada's Department of Taxation will complete its closing review and allow the transfer of operations to the new buildings.

Six City of North Las Vegas recreational and medical cannabis cultivation and production business licences have been renewed and reissued for 2018 to 2019.

Three State of Nevada medical certificates for production and cultivation have been renewed and reissued for 2018 to 2019. Three recreational certificates are currently being processed for annual renewal and reissuance.

Three Secretary of State (Nevada State) annual business licences for Marapharm Las Vegas LLC, Econevada LLC and Phenofarm NV LLC have all received state acceptance and renewal for 2018 to 2019.

The next phase of construction is the 65,000-square-foot, three-storey cultivation and production facility, (see corporate update news release dated Jan. 1, 2018). Marapharm is pleased to report that the deposit has initiated the collaboration between the American Buildings Company and Corporate Architects and Engineers.

Las Vegas cannabis market

As reported by the Las Vegas Review Journal on May 24, 2018, Las Vegas recreational cannabis sales topped $41-million in March, 2018, the highest number since legal sales began statewide in July, 2017.

To date, cannabis sales for medical or recreational purposes have totalled $385.99-million. Fifty per cent of purchases made were cannabis flower or bud.

Average flower, which has roughly 16 per cent THC (tetrahydrocannabinol) content and a moderate terpene profile, sells for approximately $2,300 to $2,600 per pound (reported by MJ Business Daily on March 15, 2018).

"The Las Vegas cannabis market continues to exceed projected revenues. Marapharm's flagship facilities will produce triple-organic-certified strains, which will soon be featured in dispensaries throughout Las Vegas, Nev.," stated Linda Sampson, chief executive officer.

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 the company is seeking expansion opportunities around the world.

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