Les Kjosness, Director announces a non-brokered private placement is being arranged for Cdn. $11000,000, subject to regulatory approval. The offering consists of 2,000,000 equity units at a price of $0.50 per unit. Each unit consists of one common share and a transferable share purchase warrant. Each full warrant entitles the holder to purchase one additional common share at an exercise price of $0.75 per share for a period of one year. This press release does not constitute an offer to sell, nor does it solicit an offer to buy in any jurisdiction. Proceeds from the private placement will be used for corporate activities.
There will be a ten percent finder’s fee payable on all funds raised.
Marapharm intends to pursue commercial ventures in the medical marijuana business. The Company will seek a listing of the Company’s shares on the Canadian Stock Exchange (“CSE”). There is no assurance that a listing of the Company’s shares on the CSE will be granted. In order for the Company to list its shares on the CSE the Company must have a minimum of $100,000.00 in working capital as e general requirement of the CSE.
On behalf of the Board
President & Director
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.