Marapharm Ventures Inc. (“Marapharm”) announces that it has today filed an early warning report advising that it has purchased a total of 1,500,000 units (the “Units”) of Veritas Pharma Inc. (the “Issuer”) at a purchase price of $0.28 per unit, each unit consisting of one common share in the share capital of the Issuer (“Common Share”) and one common share purchase warrant (the “Warrants”) of the issuer, exercisable at a price of $0.45 per common share for a period of 18 months (the “Securities”).
At the close of the issuer’s unit offering, Marapharm’s ownership of the 1,500,000 common shares, represents approximately 3.48% of the issuer’s 43,136,923 issued and outstanding common shares, and assuming the exercise of the 1,500,000 warrants, would represent 6.72% of the issued and outstanding common shares of the Issuer.
Immediately before the transaction, Marapharm owned and controlled a total of 5,000,000 common shares representing approximately 11.59% in the current share capital of the issuer, and 5,000,000 warrant shares in the share capital of the issuer (the warrants purchased as a unit with the 5,000,000 common shares), and an additional 5,000,000 warrants of the Issuer to purchase one common share in the share capital of the issuer on the exercise of the 5,000,000 additional warrants.
Marapharm now holds a total of 6,500,000 common shares, representing approximately 15.1% in the share capital of the issuer, and assuming the exercise of the company’s total 11,500,000 warrants, Marapharm would hold a total of 18,000,000 common shares or approximately 32.94% of the issued and outstanding common shares of the issuer.
The securities were acquired for investment purposes and, subject to regulatory requirements, the company may acquire additional securities of the issuer in the future.
The common shares of the issuer are listed on the Canadian Securities Exchange and were acquired or subscribed for pursuant to an offering of units conducted by the issuer.
An early warning report for Marapharm has been filed on SEDAR and will be available for review at www.sedar.com under the issuer’s profile.
“Veritas Pharma Inc. is a discovery and IP development company which advances the science behind medical cannabis. Veritas has applied to Health Canada for a cultivation license. In addition, Veritas’s team of 27 doctors, scientists and associates work tirelessly researching and testing strains of cannabis that control and reduce nausea. The growing number of patients undergoing chemotherapy and radiation is driving the market for anti-nausea medication. Transparency Market Research states that this market will reach a valuation of more than $2 billion within 2 years.
The objective is to discover the most effective chemistry and delivery for these types of medications to bring relief to millions and for Veritas to be a leader in this area of patient comfort. With the assistance of Veritas we intend to advance the strains of cannabis and believe that with our unique vertical grow system yields and quality will be maximized. There is distinct synergy with Marapharm and Veritas to enhance our corporate and shareholder value. “ Linda Sampson, Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm is a publicly traded company primarily investing in the medical and recreational cannabis space, with corporate operations based in British Columbia, Canada. Since 2016 they have rapidly expanded their footprint to include production locations in the key North American states of Washington, Nevada, and California. They actively seek expansion opportunities worldwide.
Marapharm trades in Canada, ticker symbol MDM on the CSE, in the United States, ticker symbol MRPHF on the OTCQB, and in Europe, ticker symbol 2Mo on the FSE. Marapharm also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.
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.