Marapharm Ventures Inc. updates the status of its marijuana recreational license applications in Nevada
Kelowna, BC / TheNewswire / June 29, 2017 - Marapharm Ventures Inc. - announces that the Department of Taxation, State of Nevada, provided a conditional approval letter for 70,000 square feet of cultivation for recreational use on June 21, 2017. The condition was to provide evidence regarding the zoning and land use of the Marapharm cannabis facilities. This information was provided by the City of North Las Vegas on June 21, 2017. On June 27, 2017 the Nevada Department of Taxation acknowledged receipt of the requested information and stated that they expect to issue the license shortly. Marapharm currently has 3 medical marijuana licenses and has made applications for the transition to recreational use for the 290,000 square feet of cultivation and production facilities. Two applications remain in the system waiting approval.
ABOUT MARAPHARM VENTURES INC.
Marapharm has more than 300,000 square feet of medical marijuana licenses for its land and facilities in WA, CA and NV. In Nevada, the building footprint is 360,000 square feet. The Nevada Department of Agriculture report by Tessa Rognier states that the average size of a cultivation facility in Nevada is 26,000 square feet. About three years ago, Marapharm applied in Canada to Health Canada for a MMPR (production and sales) license 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. Marapharm owns 15 million shares and warrants of Veritas Pharma Inc., a public company.
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 the 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 email@example.com
Marapharm trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQB, in Europe, ticker symbol 2M0 on the FSE.
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