Les Kjosness, President & CEO, is pleased to announce the Company has received approval to commence trading on the Canadian Securities Exchange (CSE) under the symbol MDM. Trading of the Company’s securities will commence on Friday, May 8 at 6:30 a.m. Pacific Standard Time.
Effective at the opening on the CSE, there will be 35,348,698 common shares of the Company issued and outstanding.
According to Kjosness, Marapharm’s Board of Directors believes this listing will provide for greater operational efficiency and lower costs for the Company while allowing shareholders continued liquidity on a recognized exchange.
Marapharm intends to pursue commercial ventures in the medical marijuana business. Marapharm is a publicly listed company established to enter the emerging market created by Canada’s new Marijuana for Medical Purposes Regulations (“MMPR”). The Company is positioned as a pioneer and leader in the medical marijuana market with plans to construct brand new facilities in British Columbia’s Okanagan Valley and rapidly expand its facilities to meet strategic advantages for growth and market penetration. Marapharm is currently in the process of its application for an MMPR license.
The Company will initially construct its facility on 11 acres under lease to Marapharm with expansion plans to a 100,000 sq. foot facility in year two. Further construction is built into the Company’s long term growth strategy once a realistic assessment and export demand can be determined. Additional facility footage will at that point be brought forward.
The Canadian market potential for medical marijuana is currently estimated at Cdn. $1.2 billion and the world market potential is estimated at Cdn. $115 billion. As a result, Marapharm is well positioned to enjoy significant and consistent revenue growth for many years.
The Company’s new website is currently under construction and will be available by Tuesday, May 12, 2015.
On behalf of the Board
President & Director
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.