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.
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.
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FORWARD – LOOKING STATEMENTS:
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