Ms. Linda Sampson reports
MARAPHARM VENTURES INC. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT UNIT OFFERING
Marapharm Ventures Inc. intends to proceed with a non-brokered private placement of up to 6,666,667 units at 60 cents per unit to raise gross proceeds of up to $4-million.
The unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share of the company at an exercise price of 70 cents for a period of 12 months from the date of issuance of the warrant.
Pursuant to the terms of the warrants, the expiry date of the warrants may be accelerated should the closing price at which the common shares trade exceeds 85 cents for five consecutive trading days. Any warrants which remain unexercised after the accelerated expiry date will be cancelled.
The net proceeds raised from the unit offering are intended to be used for: (i) further development of the company's Las Vegas project; (ii) further development of the company's project in Washington State; (iii) further development of the company's projects in California and general corporate purposes. The common shares and warrants issued pursuant to the non-brokered offering are subject to a four-month hold period. No finders' fees will be paid in connection with this non-brokered offering.
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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