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Marapharm cancels Letter of Intent to sell its Canadian ACMPR Application for $8.5 million

Marapharm announced June 1, 2017 that it’s wholly owned subsidiary Marapharm Inc. entered into a LOI, (letter of intent), to sell its ACMPR, (access to cannabis for medical purposes regulations), license application and all associated property and plans in consideration of payment by shares in a public company. The transaction was subject to completion of due diligence, a definitive acquisition agreement being executed by the parties, and board and regulatory approval.

The parties have mutually agreed to terminate the agreement. The license application is no longer for sale. We are going to pursue the ACMPR application and intend to maximize the value for shareholders.” Linda Sampson, Marapharm CEO.

 

ABOUT MARAPHARM VENTURES INC.
www.marapharm.com
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.

FOR FURTHER INFORMATION:
www.marapharm.com or Linda Sampson, CEO 778-583-4476 email info@marapharm.com

SOCIAL MEDIA:
Facebook: facebook.com/marapharm
Twitter: twitter.com/marapharm

STOCK EXCHANGES:
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 thOTCQB® 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.

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