Ms. Linda Sampson reports
MARAPHARM VENTURES INC. "MARAPHARM" ANNOUNCES A FINANCIAL UPDATE ON THE 2ND ANNIVERSARY OF TRADING AS A PUBLIC COMPANY - IT HAS RAISED $22,917,150.00
Marapharm Ventures Inc. was listed on the Canadian Securities Exchange and began trading on May 8, 2015, with subsequent listings on the OTCQB and the Frankfurt Stock Exchange.
Marapharm has raised $22,917,150 (share source: Computer Share; transfer agent). The proceeds have been raised by private placements, and the exercise of options and warrants as a public company. The first tranche of the bond offering, announced on Feb. 28, 2017, is closed; the total is $1.28-million (U.S.). There is $4.22-million (U.S.) remaining and available for subscription. There are two warrant series left to be exercised for a potential of $4,951,200.
Marapharm has approximately $5-million cash at the present time.
Marapharm has purchased 13.6 acres of industrial land with buildings in Washington State which is approved for marijuana cultivation, processing and as a cannabis campus.
Marapharm has purchased seven acres of industrial property in Las Vegas, Nev., with buildings approved for marijuana cultivation and processing.
Marapharm has purchased industrial properties in California approved for marijuana cultivation and processing.
Marapharm has acquired and/or has conditional applications for up to 11 cannabis licences in the United States and Canada.
Marapharm purchased 15 million shares and warrants of Veritas Pharma Inc., a public company.
Marapharm owns Marapharm Delivery Service for medical marijuana deliveries.
Marapharm owns www.marapharm.tv.
"We have worked hard during the past two years, and now Marapharm is ready to grow. We have created a strong infrastructure and shareholder base. We have licences, property and buildings.
"Coupon and convertible bonds have been used to raise construction money. Several lenders and investors have presented financing proposals for further construction options, including an $80-million (U.S.) conditional commitment. We will continue to scrutinize all proposals to ensure the best decisions are made for Marapharm.
"The past two years have been significant. We have set a foundation for long-term success and expansion in this exciting market. The next few years are going to be historical!" Linda Sampson, Marapharm chief executive officer.
Marapharm has traded 98,923,854 shares on three stock markets for a value of $126,564,847 in its first two years of public trading.
On the CSE, Marapharm has traded 53,542,926 shares since its trading debut on May 8, 2015, for a value of $60,504,667.91. Marapharm has traded 13,003,894 shares since its trading debut on Sept. 1, 2015, on the OTCQB for a value of $12,738,030.71 (U.S.). Marapharm has traded 32,377,034 shares since its trading debut on June 28, 2015, on the FSE for a value of $32,246,997 euros (source: Stockwatch and the Frankfurt Stuttgart).
About Marapharm Ventures Inc.
Marapharm trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQB, and in Europe, ticker symbol 2M0 on the FSE.
Marapharm has 300,000 square feet of medical marijuana licences for its land and facilities in Washington and Nevada. About two and a half years ago, Marapharm applied in Canada to Health Canada for an MMPR (production and sales) licence and has passed the necessary security clearances. The application is currently in the in-depth screening process. In September, 2016, Health Canada contacted Marapharm with a provision to amend its application to allow for the new regulations, ACMPR.
Construction photos and videos can be accessed through the Marapharm website. Marapharm's common shares are publicly traded in Canada, under the ticker symbol MDM on the Canadian Securities Exchange, in the United States, under the ticker symbol MRPHF on the OTCQB, and in Europe, under the ticker symbol 2M0 on the FSE.
Additional information on the operations or financial results of Marapharm are included in reports on file with applicable securities regulatory authorities, and may be accessed through the CSE website, the OTC website and SEDAR under the profile for Marapharm Ventures.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.