Les Kjosness, Director, announces that on September 8, 2014, the Company filed incorrectly prepared financials for the first quarter ending June 30, 2014 and an inaccurate Management Discussion and Analysis (MD&A). The documents were erroneously filed without the board review for accuracy. The quarterly financials and MD&A for June 30, 2014 are refilled on SEDAR.
In addition: August 2, 2014, Capital Auction Market Inc. changed its name to Marapharm Ventures Inc. All Board members Gregg Anthony Alfonso and Patricia Anne O’Fee resigned on July 8, 2014 and were being replaced by Corey Klassen, James MacDonald and Les Kjosness. Due to previous work commitments, James MacDonald could not commit the time requested to the Company and graciously resigned. Brian Peterson will replace James as a Company Director.
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 a general requirement of the CSE.
The shares of the Company are currently the subject of a Cease Trade Order issued by the British Columbia Securities Commission on August 6, 2014. The Company intends to seek the revocation of that Cease Trade Order now that the filing of its March 31, 2014 and June 30, 2014 financial statements and MD&A has been completed.
A copy of Management Discussion and Analysis as well as the unaudited Financial Statements for the period ended June 30, 2014 is available at www.sedar.com
On behalf of the Board
“Les Kjosness” President and CEO
For further information: 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.