September 24, 2015 – Vancouver, BC. – Les Kjosness, President & CEO of Marapharm Ventures Inc. (the ’Company’) (CSE:MDM, OTC: MRPHF, FSE:2M0) is pleased to announce its wholly-owned subsidiary Marapharm Inc.’s application to Health Canada for an MMPR license has progressed to the Security Clearance Process stage. According to the Health Canada website, there are several stages to the application process, the security clearance stage being a significant milestone in that process.
The Marijuana for Medical Purposes Regulations (MMPR) came into force in June 2013. The regulations create conditions for a commercial industry that is responsible for the production and distribution of marijuana for medical purposes. They also make sure that Canadians with a medical need can access quality controlled marijuana grown under secure and sanitary conditions. There are currently six licensed producers in British Columbia and a total of 26 producers Canada-wide.
Construction of brand new facilities on 11 acres in British Columbia’s Okanagan Valley outside of Kelowna as the Company’s original project will commence once the license application has been granted. Conceptual plans are available at http://www.marapharm.com/
ABOUT MARAPHARM VENTURES INC.
Marapharm was formed in 2014 to create a global entity by pursuing commercial ventures in the medical marijuana business. In late September 2015, we announced the construction start of a 5,000 sq. ft. medical marijuana complex on the 5.9 acres we purchased in May 2015 in the Apex Industrial Park located north of Las Vegas, Nevada. This development is in advance of the planned 80,000 sq. ft. main cultivation facility and will provide interim product to local dispensaries. The building is ordered and will be erected in approximately six to eight weeks. It will be used for hiring, training and cultivation during the construction of the main facility.
In other news, the Company has granted to Directors, Officers, employees, advisors and consultants an aggregate of 1,275,000 stock options under the Company’s Stock Option Plan. The options will be exercisable for a period of two years, at a price of Cdn. $0.50 per share.
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.