04:37:49 EDT Tue 19 Mar 2024
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Marapharm Ventures Inc
Symbol MDM
Shares Issued 108,502,958
Close 2018-04-23 C$ 0.68
Market Cap C$ 73,782,011
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Marapharm encouraged by Schumer's proposed pot bill

2018-04-24 09:52 ET - News Release

Ms. Linda Sampson reports

MARAPHARM VENTURES INC. - COMMENTS ON THE INTRODUCTION OF PROPOSED U.S. LEGISLATION TO DE-SCHEDULE MARIJUANA AT FEDERAL LEVEL

Marapharm Ventures Inc. is encouraged with the escalation of support at the federal level in the United States with the latest proposed bill by Senator Chuck Schumer.

Mr. Schumer announced on April 20, 2018, his support -- for the first time -- for decriminalizing marijuana at the federal level, as well as plans to introduce new legislation in the U.S. Senate to do so. Specifically, Mr. Schumer's legislation would remove marijuana from the list of scheduled substances under the Controlled Substances Act, effectively decriminalizing it at the federal level.

"A staggering number of American citizens, a disproportionate number of them being either African American or Latino, continue to be arrested every day for something that most Americans agree should not be a crime. Meanwhile, those who are entering into the marijuana market in U.S. states that have legalized are set to make a fortune. This is not only misguided, but it undermines the basic principles of fairness and equal opportunity that are foundational to the American way of life," stated Mr. Schumer.

This year, for the first time, a majority of Republicans expressed support for legalizing marijuana; the current 51 per cent is up nine percentage points from last year.

"Polls show that the majority of citizens in Canada and the U.S., as well as many countries globally, have demanded some form of legalization or at least decriminalization of cannabis. Political officials and leaders of these great countries are taking a stand behind their citizens and echoing their demands for legalization," stated Corey Klassen, vice-president of corporate development.

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 is seeking expansion opportunities worldwide.

We seek Safe Harbor.

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