Marapharm Ventures Inc. (“Marapharm”) announces that the non-brokered private placement unit offering announced in a news release July 18, 2016 for gross proceeds of $1,000,000 has been closed and that it is oversubscribed for total gross proceeds of $2,173,250.00. The number of units subscribed for are 10,866,250 and each unit consists of one common share and one common share warrant for a total issuance of 10,866,250 common shares and 10,866,250 share warrants. The share warrants entitle the holder to acquire one common share at an exercise price of $0.40 cents per share. The warrants may be exercised at any time until one year from the closing of the private placement. Marapharm paid 10% finder’s fees to various finders in connection with the private placement.
Marapharm announces that Director options to purchase 850,000 shares at $0.50 cents expire September 14, 2016 and, new Director 2 year options have been issued, 925,000 at $0.40 cents and 300,000 at $1.00.
ABOUT MARAPHARM VENTURES INC.
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