"The entire West Coast of
the United States has legalized recreational marijuana"
Westbrook Radio interview with Linda
Sampson, CEO of MaraPharm Ventures Inc.
Marapharm Ventures Inc. (CSE:MDM) (OTCQB:MRPHF)
(FSE:2M0) announced that it has entered into an agreement to purchase an
industrial facility in southern California and three (3) medical marijuana
licenses for manufacturing, cultivation, and retail uses. The land size is
40,510 square feet and the existing building size is 6,875 square feet, with a
19-foot-ceiling clearance, for a purchase price of $3.2 million USD, based on
$450 USD per square foot for the building and $65 USD per square foot for the
land. The yard area is paved and suitable for greenhouse growing. The purchase
is subject to, and contingent upon, completion of satisfactory due diligence,
including background checks, and closing documentation for the issuances of the
three (3) licenses to Marapharm within 120 days, with the closing to take place
120 days from the removal of contingencies.
"We are really excited to have such a prize
property as well as three licenses, and to be in the California market. The
'Yes' vote in California is significant for a number of reasons: (i) California,
if it were a stand-alone state, would be the 6th largest economy in the world,
with a population of 40 million people, and (ii) this decision means the entire
West Coast of the United States has legalized recreational marijuana. Once
Canada is legal, the West Coast all the way from Mexico to Alaska will be legal,
so the opportunity is huge,” says Linda Sampson, Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
www.marapharm.com
Marapharm has 300,000 square feet of medical
marijuana licenses, land, and facilities in WA and NV and, about two and a half
years ago, Marapharm applied in Canada to Health Canada for a MMPR (Production
and Sales) license, having since 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, known as ACMPR.
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 (www.thecse.com),
the OTC website (www.otcmarkets.com)
and Sedar website (www.sedar.com) under
the profile for Marapharm Ventures Inc.
FOR FURTHER INFORMATION:
www.marapharm.com or Linda
Sampson, CEO, 778- 583 4476
[email protected]
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