September 23, 2015 – Vancouver, BC. – Les Kjosness, President & CEO of Marapharm Ventures Inc. (the ’Company’) (CSE:MDM, OTC: MRPHF, FSE:2M0) is pleased to announce the Company’s whollyowned subsidiary Marapharm Las Vegas LLC, in advance of the planned 80,000 sq. ft. main cultivation facility, will commence construction of a 5,000 sq. ft. medical marijuana complex on the 5.9 acres it owns in the Apex Industrial Park, located north of Las Vegas, Nevada. This facility will provide interim product to local dispensaries. The building is ordered and will be erected in approximately six weeks. It will be used for hiring, training and cultivation during the construction of the main facility.
Cultivation from the initial building will produce an estimated US$3,500,000 in revenue and a net profit of US$2,300,000. The product from the initial facility has already been contracted by agreement to a dispensary in Las Vegas, Nevada. Further, the entire cultivation of the 80,000 sq. ft. development is contracted to several dispensaries located in Las Vegas, Nevada. Conceptual plans are available at: www.marapharm.com
Situated along Interstate 15, Apex is just 25 minutes from McCarran International airport and within five hours from the Port of Los Angeles. Apex has the potential to become one of the predominant industrial developments in the western United States. Access to major North American cities is readily available via Highway 93 and the Union Pacific Railroad. The park offers access to municipal groundwater, high pressure gas and an abundance of power supplied by the five power generation stations within the park’s boundaries.
Medical marijuana was legalized in the state of Nevada on November 7, 2000. In 2013, the Nevada legislature allowed for safe, regulated access to cannabis. At the end of 2014, there were only 8,000 registered medical marijuana users and by the end of 2015 it is anticipated that the number will have grown to 50,000. Aside from these users, Nevada law allows any non-resident who carries a valid medical marijuana card in their home state to present their card in Nevada and purchase their marijuana while visiting.Reported average medical use is between one and two ounces (28-56 grams) per month. It is anticipated that retail prices will be from US$10-$30 per gram.
Recreational marijuana is on the ballot for the 2016 election and polls already show 54% in favour of legalization.
About Marapharm Ventures Inc.
Marapharm was formed to create a global entity by pursuing commercial ventures in the medical marijuana business. The Company’s original project is the construction of brand new facilities on 11 acres in British Columbia’s Okanagan Valley with expansion plans in place to meet strategic advantages for growth and market penetration. Marapharm is currently in the process of its application for an MMPR license with Health Canada. The Apex acreage in Nevada was purchased in May 2015. In addition to the Las Vegas acquisition, Marapharm has entered into an LOI with the same business corporation for a 90-day exclusive negotiation rights and the right of first refusal for two additional Nevada Medical Marijuana licences, one grow operation and a medical dispensary licence in Washington State and one medical dispensary licence in California.
On behalf of the Board
President & Director
For further information please visit the Company`s website at 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.