Mr. Les Kjosness reports
MARAPHARM ANNOUNCES OVERSUBSCRIBED PRIVATE PLACEMENT
Marapharm Ventures Inc.'s previously announced Aug. 18, 2015, non-brokered private placement is oversubscribed. Marapharm will issue a total of 1.1 million units at a price of 37 cents per unit to raise gross proceeds of $407,000. Each unit will consist of one common share and one share purchase warrant. Each full warrant entitles the holder to purchase one additional common share at an exercise price of 37 cents per share for a period of six months. No additional subscriptions will be accepted.
Proceeds from the private placement will be utilized for corporate activities. A 10-per-cent finder's fee may be payable in securities of the company. The private placement and finder's fee are subject to regulatory approval.
We seek Safe Harbor.
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