Marapharm Ventures Inc. (the “Company”) is pleased to announce that its wholly-owned subsidiary, Marapharm Inc. (“Marapharm”), has entered into a letter of intent (“LOI”) with Standard Graphite Corporation (“SGH”), a public company on the TSX Venture Exchange (TSXV) sell Marapharms Health Canada ACMPR (Access to Cannabis for Medical Purposes Regulations) license application, and all associated property, plans, and intellectual property to SGH, in consideration for $5.265 million CDN payable by 35,000,000 common shares “more or less, dependent on price” of SGH (the “SGH Shares”), plus $2.5 million, payable in shares based on receipt by Health Canada.
The transaction is subject to completion of due diligence by the parties and a definitive acquisition agreement being executed by the parties, Marapharm, and SGH; the receipt of all necessary, board and required regulatory approvals (including approvals from the TSXV or the Canadian Securities Exchange (“CSE”), as applicable).
Marapharms assets include 300,000 square feet of medical marijuana licenses and 7 acres of property in NV and facilities in WA and CA. In addition Marapharm has 15 million shares and warrants of Veritas Pharma Inc., a public company.
ABOUT MARAPHARM VENTURES INC.
Marapharms common shares are publicly traded in Canada, under the ticker symbol “MDM” on the Canadian Securities Exchange, and in the United States, under the ticker symbol “MRPHF” on the OTCQB, and in Europe, under the ticker symbol “2M0” on the FSE.
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 the 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
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FORWARD – LOOKING STATEMENTS:
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