On August 22, 2017 the Nevada Department of Taxation, the main oversight body for marijuana in the state, conditionally approved an application for a marijuana establishment distributor license, subject to vehicle and facility inspections.
This is the first award among multiple applications Marapharm submitted. The conditional approval means Mararpharm may proceed with purchase of vehicles with essential operating standards that include interior climate control to ensure the integrity of the products carried between licensees and security features to protect product, drivers, and the community during transit.
“Marapharm is one of the first marijuana businesses of more than 80 applicants to receive a conditional distribution licence. This is great news.” Linda Sampson, Marapharm CEO
Excerpt from Wells Publishing, August 14, 2017 Insurance Journal:
“Nevada marijuana regulators have decided to start issuing pot distribution licenses to businesses other than liquor wholesalers to keep up with overwhelming demand since legal recreational sales began July 1.
The Nevada Department of Taxation voted to open up the market previously limited to liquor distributors under the state ballot measure voters approved in November.
The department declared the need for the emergency rules shortly after marijuana retailers recorded more than 40,000 transactions in the first weekend of legal sales. Some of the dispensaries that previously sold pot for medical use said they saw their sales increase 10-fold.”
ABOUT MARAPHARM VENTURES INC.
Marapharm is a publicly traded company on the Canadian Stock Exchange (CSE: MDM, OTCQB: MRPHF) primarily investing in the medical and recreational cannabis space, with corporate operations based in British Columbia, Canada. Since 2016 they have rapidly expanded their footprint to include production locations in the key North American states of Washington, Nevada, and California. They actively seek expansion opportunities worldwide.
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.
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.
FORWARD – LOOKING STATEMENTS:
Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, ‘may”, “will”, “project”, “should”, ‘believe”, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.