Ms. Linda Sampson reports
MARAPHARM VENTURES INC. UPDATES LAS VEGAS CANNABIS FACILITY
Marapharm Ventures Inc. is expediting the remaining construction tasks at the Las Vegas facility to complete the 10,000 square feet of cultivation and production space to prepare for cultivation, extraction, edible production and sales of cannabis. Marapharm paid $565,000 (U.S.) for specialized HVAC (heating, ventilation and air conditioning) systems that increase efficiency and reduce operating costs. These systems have now been delivered and are being installed. The drywall and all remaining tenant improvements can now be completed. Installation of the fire sprinkler system is complete. Genetics continue to thrive and have been cloned for phenotype farming. Two clones from each mother are being grown to full maturity in order to determine which phenotype will be selected for permanent production. The plants will be transitioned from the interim buildings to the permanent buildings in January, 2018.
Perimeter security is being provided by an eight-foot black beta wire mesh fence with access provided by 24-foot sliding gates, a double swing gate and pedestrian gates, all with keypad access.
The groundwork is prepared for the 65,625-square-foot building, which has been ordered from American Buildings, based in Carson City, Nev. This is the third building for the property. There will be a total of four buildings equalling 380,000 square feet on completion of the buildout.
"We are just about there! There have been delays with deliveries of core equipment but now everything is on site. Marapharm soon will be cultivating cannabis in the hottest adult-use market in the world! The average spot price for marijuana in Nevada is $2,520 a pound, the highest price in the country. Demand is stronger than ever in Nevada," said Linda Sampson, chief executive officer of Marapharm.
About Marapharm Ventures Inc.
Marapharm is a publicly traded company primarily investing in the medical and recreational cannabis space, with corporate operations based in British Columbia, Canada. Since 2016, the company has rapidly expanded its footprint to include production locations in the key North American states of Washington, Nevada and California. It is actively seeking expansion opportunities around the world.
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