VANCOUVER, B.C. – Marapharm Ventures Inc. (CSE: MDM) (“Marapharm” or the “Company”) announces that, as a result of a review by the British Columbia Securities Commission, we are issuing the following press release to clarify our disclosure for certain items related to the previously filed financial statements, related management’s discussion and analysis (“MD&A”) for the nine months ending December 31, 2016. The Company has filed amended and restated Financial Statements and MD&A, copies of which are available and can be viewed at www.sedar.com.
The effect of the restatement for material items is detailed as follows:
Changes to the MD&A
The Company has re-written the MD&A in order to comply with Form 51-102F1 disclosure requirements including:
- Expanded disclosure regarding corporate strategy and operational information on each of the Company’s projects.
- Expanded disclosure for Selected Quarterly Financial Information, Discussion of Operations and Liquidity for the current quarter and year to date activities.
- Included in the Related Party Information transactions with the current President of the Company and entities related to him.
About Marapharm Ventures Inc.
Marapharm Ventures Inc., is uniquely positioned in the cannabis space as the Company currently holds cultivation and production licenses. These licenses allow for the purchase of plants and product from other licensed growers and has been approved for recreational use in the State of Nevada
The Company’s growth strategy is to build facilities and acquire licenses in both Canada and the United States.
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.
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.
The Investment Industry Regulatory Organization of Canada (IIROC) has approved the contents of this news release.
Neither the CSE, the FSE nor the OTCQB® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQB® accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by Mission Ready Services Inc. as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Mission Ready Services Inc. to be materially different from those expressed or implied by such forward-looking information.
Forward-looking statements are based on assumptions management believes to be reasonable. Although Mission Ready Services Inc. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Mission Ready Services Inc. does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.