“Many shareholders are asking for our response to news about potential changes to cannabis laws by the Trump administration, to help with their investment decisions. President Trump said while campaigning that he was in favour of medical marijuana and that it was up to each state as to whether they legalized marijuana for medical use. With regard to recreational use of marijuana the President said that he did not as of yet have a strong opinion. The news which has spooked investors was not about medical marijuana. The news insinuated that recreational laws could be federally enforced. The government has not said that it will do this. Regardless, it is very clear that if there was a federal crackdown on marijuana that it would be for recreational use only. Medical marijuana will continue to be legal in 28 states that it is legal in at the present time. Most sales of marijuana are for medical purposes. With regard to Marapharm, all of our 300,000 square feet of cultivation and production in Las Vegas, Nevada, is pre-sold, all for medical marijuana.” Linda Sampson, Marapharm CEO.
The Keith Fitz-Gerald Report, January 31, 2017 says that there are 191 million residents in just 8 states which have approved marijuana for recreational use and that 90% of all Americans live in a state that allows some degree of legal marijuana use. Sales of legal marijuana were $6.7 billion in 2016. Quinnipac poll shows that 71% of voters say the government should not enforce federal marijuana laws against states with medical and recreational marijuana laws. According to Huffington Post, September 22, 2014, if all states legalized cannabis collectively they’d rake in more than $3 billion a year in taxes.
“Shareholders should have professional advice to make investment decisions. Marapharms investment decision is to continue to construct, renovate and expand its operations and also to continue to seek expansion by acquisitions, in the United States and Europe.” Linda Sampson, Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQB, in Europe, ticker symbol 2M0 on the FSE.
Marapharm has 300,000 square feet of medical marijuana licenses for its 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.
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.