Vancouver, British Columbia, Canada – Marapharm Ventures Inc. (“Marapharm” or the “Company”) (www.marapharm.com) advises that all resolutions were passed at the Company’s Annual General Meeting held on December 16, 2015.
Re-elected to the Board are Les Kjosness, Corey Klassen and Brian Peterson. At the meeting, the Company’s shareholders also approved the renewal of the Company’s stock option plan, adoption of the Advance Notice Policy and re-appointment of Saturna Group Chartered Accountants LLP as auditors of the Company, as set out in the Company’s management information circular dated November 10, 2015.
In addition, Marapharm is pleased to announce the appointment of James Turner, P.Geo to the Board of Directors. A resident of British Columbia, Mr. Turner started his career in 1974 and has worked for over 38 years with companies such as Cominco and Newmont on regional and property mapping and drilling programs for gold and massive sulphide deposits. As the principal of TerraSat Geomatics, Mr. Turner also consulted with several junior resource exploration companies listed on the TSX Venture Exchange. His primary role was the interpretation of remote sensing data. He also worked with a London based junior explorer in Costa Rica providing valuations and NI43-101 reports as they developed a small gold mine.
Les Kjosness, President & CEO, comments, “We are very pleased to have Jim join the Board of Directors. He brings tremendous depth to the Company in investment strategies and will be a valuable asset in raising our profile in the investment community.”
The Company has granted Mr. Turner stock options to purchase up to 100,000 common shares, pursuant to the Company’s stock option plan, at an exercise price of $0.50 per share (based on the closing market share price on December 15, 2015) for a period of 5 years.
ABOUT MARAPHARM VENTURES INC.
Marapharm trades under the symbols MDM on the Canadian Securities Exchange (“CSE”), 2M0 on the Frankfurt Stock Exchange (“FSE”) and MRPHF on the U.S OTCQB® marketplace.
Marapharm (www.marapharm.com) and its wholly-owned subsidiary in Canada, Marapharm Inc., and its wholly-owned subsidiary in the United States, Marapharm Las Vegas LLC, is engaged in the development, production of and commercialization of phytocannabinoid-based pharmaceutical products in Canada and the United States. The Company is at the security clearance stage with Health Canada to become a licensed producer under the Marijuana for Medical Purposes Regulations (MMPR) issued pursuant to the Controlled Drugs and Substances Act (Canada). The company also intends to focus its development and growth strategy in Colorado, Nevada and California and plans to acquire – grow, production and dispensary licenses in 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 at www.thecse.ca and the SEDAR website at www.sedar.com under the profile for Marapharm Ventures Inc.
On behalf of the Board
President & Director
For further information, please contact: www.marapharm.com
The CSE has neither approved nor disapproved the accuracy of this news release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors – including the availability of funds, the results of financing efforts, the results of exploration activities – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Companies’ documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward – looking statements, which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward – looking statements, whether as a result of new information, future events or otherwise.