22:28:04 EDT Tue 04 Aug 2020
Enter Symbol
or Name

Login ID:
Marapharm Ventures Inc
Symbol MDM
Shares Issued 84,842,936
Close 2017-08-25 C$ 1.00
Recent Sedar Documents

Marapharm gains conditional OK for distributor licence

2017-08-25 17:03 ET - News Release

Ms. Linda Sampson reports

The State of Nevada has awarded conditional approval for Marapharm Ventures Inc.'s marijuana distributor licence. On Aug. 22, 2017, the Nevada Department of Taxation, the main oversight body for marijuana in the state, conditionally approved an application for a marijuana establishment distributor licence, subject to vehicle and facility inspections.

This is the first award among multiple applications Marapharm submitted. The conditional approval means Mararpharm may proceed with purchase of vehicles with essential operating standards that include interior climate control to ensure the integrity of the products carried between licensees and security features to protect product, drivers and the community during transit.

"Marapharm is one of the first marijuana businesses of more than 80 applicants to receive a conditional distribution licence. This is great news," said Linda Sampson, chief executive officer of Marapharm.

The following is an excerpt from Wells Publishing, Aug. 14, 2017, Insurance Journal: "Nevada marijuana regulators have decided to start issuing pot distribution licenses to businesses other than liquor wholesalers to keep up with overwhelming demand since legal recreational sales began July 1. The Nevada Department of Taxation voted to open up the market previously limited to liquor distributors under the state ballot measure voters approved in November. The department declared the need for the emergency rules shortly after marijuana retailers recorded more than 40,000 transactions in the first weekend of legal sales. Some of the dispensaries that previously sold pot for medical use said they saw their sales increase 10-fold."

About Marapharm Ventures Inc.

Marapharm is primarily investing in the medical and recreational cannabis space, with corporate operations based in British Columbia, Canada. Since 2016, it has rapidly expanded its footprint to include production locations in the key North American states of Washington, Nevada and California. It actively seeks expansion opportunities around the world.

We seek Safe Harbor.

© 2020 Canjex Publishing Ltd. All rights reserved.