“Marapharm is the sole owner of Econevada LLC, which is the holder of a provisional production license for lab tested oils and edible cannabis infused products which will be produced in Marapharm’s facility. The facility is presently under construction in Apex Industrial Park, Las Vegas, Nevada. Proven and successful recipes for a variety of products have been obtained and include cookies, chocolates, brownies, candies, hot chocolate packets, topicals and oils. Child proof and secure containers are being designed for the marketing and branding of products. Online brochures for preview and pre orders from marijuana dispensaries in Nevada will be distributed within several weeks. The potential for sales revenue and profit for edibles in Nevada is huge; it’s exciting to be in this industry!” Linda Sampson, Marapharm CEO.
The Marijuana Business Magazine, January, 2015, wrote that the estimated market for general marijuana infused products in was between $650 to $850 million. That was based on 2014 sales, and, prior to many States legalizing the use of medical and or recreational marijuana. In Colorado some retailers reported that 60% of their revenue came from cannabis infused products compared to 30% in 2014. At that time, Colorado ranked as the biggest edibles market in the country. “Nevada’s going to blow it up” said Chad Tribble, CEO of Mountain High Suckers in Colorado, making reference to, if and when Nevada legalized marijuana for recreational use.
“Since the story in the Marijuana Business Magazine was written, Nevada has legalized marijuana for recreational use. In addition to the Nevada market, there are close to 50 million adults who travel to Nevada annually. Tourists might be more inclined to purchase edibles over raw cannabis because they are less conspicuous and easier to consume. Marapharm is preparing to meet the projected needs of the market place.” 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 it’s 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.
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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.