Marapharm Ventures Inc. (“Marapharm”) Kelowna, British Columbia, announces updates of timelines for its Las Vegas, Nevada project announced previously in news releases November 14, 2016, November 23, 2016, December 4, 2016 and December 6, 2016.
The two starter buildings have arrived at the Marapharm property located in Las Vegas, Nevada. Site preparation is underway. Forms and slab pour and cure time is slated to be January 16, The building erection crew is slated to begin January 17, Interior prep and finishing for grow ready is to commence January 28, 2017. Fencing, security and signage is projected for completion February 20, 2017. Numerous construction items and interior furnishings, equipment and preparations to go to March 30, 2017 and growing, cultivation and processing for 3 licensed facilities commences April, 2017. Delivery of pre-sold cannabis after curing, testing and packaging projected to be within 3 months of the initial harvest.
“We are excited. Nevada has 50 million adult visitors per year and marijuana is legal for medical and recreational use so the market is beyond huge and we will be ready! Our land is paid for. The buildings, equipment and many other items are paid for. We are in good shape financially with close to $4 million in cash presently for working capital for the Las Vegas project and credit facilities are available if required. The building plans for the entire build-out will be ready shortly, to reflect the height changes to accommodate our vertical plus farming model, and then we go into the final construction stage. Construction photos will be posted shortly on our website.” Linda Sampson, Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm has 300,000 square feet of medical marijuana licenses for it’s land and facilities in WA and NV and about two and a half years ago, Marapharm applied in Canada to Health Canada for a MMPR (Production and Sales) license and has passed the necessary security clearances. The application is currently in the in-depth screening process. In September 2016, Health Canada contacted Marapharm with a provision to amend its application to allow for the new regulations, ACMPR.
Additional information on the operations or financial results of Marapharm are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (www.thecse.com), the OTC website (www.otcmarkets.com) and Sedar website (www.sedar.com) under the profile for Marapharm Ventures Inc.
FOR FURTHER INFORMATION:
www.marapharm.com or 778-583-4476 email firstname.lastname@example.org
Neither the CSE, the FSE nor the OTCQB® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQB® 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.