Marapharm Ventures Inc. (“Marapharm”) is pleased to announce a non-brokered private placement of secured convertible bonds for gross proceeds of up to $5,500,000 USD at an issue price of $10,000 per bond, bearing compound interest at the annual rate of 8.5% until the maturity date of November 30, 2019. The offering is open for subscription until November 30, 2016, or until determined by the directors of Marapharm, and may be closed in tranches. The proceeds from the private placement will be used
as a debt facility for Marapharm Las Vegas, LLC (“MLV”) and the bonds will be secured by the assets of MLV, which include real property, buildings, 3 special use licenses for 300,000 square feet of medical marijuana cultivation, and equipment. The bonds will be open for prepayment without penalty, with monthly payments of principal and interest beginning 4 months from the closing date. In addition, Marapharm has agreed to issue a 3% bonus (or $300) for each bond issued, such bonus to be payable with Marapharm common shares at a deemed price of $0.75 per share on the closing date. The bonds, in part or full, will be convertible into common shares of Marapharm at the conversion price of $1.00 per share for year 1, $2.00 per share for year 2, and $3 per share for year 3. A finder’s fee of up to 10% is payable to finders. MLV intends to use the net proceeds of the private placement to pay for equipment, operating capital costs, and construction of MLV starter facilities for growing, testing, and staffing operations in Las Vegas, Nevada.
ABOUT MARAPHARM VENTURES INC.
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 778-583-4476 email email@example.com
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FORWARD – LOOKING STATEMENTS:
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