Medical Marijuana Stock News: Marapharm
Ventures Inc. (OTCQB: $MRPHF) (CSE: $MDM) Kelowna, B.C. Announces a Laboratory
for Research and Development of Marijuana for its Washington Property
KELOWNA, British Columbia - April 4, 2017 (Investorideas.com
Newswire) Marapharm (OTCQB: MRPHF) (CSE: MDM) (FSE: 2M0) is pleased to announce
that it has entered into an agreement with AlphaPheno Inc. ("Alpha")
of Washington state to build a laboratory on the 13.6-acre-site of Marapharm's
property. Alpha, in conjunction with Veritas Pharma Inc., an emerging discovery
and IP development company, will enter into a joint venture arrangement for the
research and development ("R&D") business. Alpha holds a Tier 3
cultivation and processing license and therefore is permitted to apply for and
hold an R&D license. With an extensive list of cannabis genetics and
existing cultivation space, Alpha is applying for a marijuana research license
to leverage the synergy with Veritas in the U.S. market. The agreement is
conditional on acceptance of the application. The license will provide the
holder with the ability to produce, process, and possess marijuana to test
chemical potency and composition levels, to conduct clinical investigations of
marijuana-derived drug products, to conduct research on the efficacy and safety
of administering marijuana as part of medical treatment, and to conduct genomic
and or agriculture research. Veritas will provide the R&D thesis, programs,
equipment, and laboratory standards and protocol for a focused R&D
approach. Veritas will also determine the key qualified personnel required to
execute these programs. A new laboratory will be constructed within Marapharm's
buildings, which are occupied by Alpha.
"The R&D laboratory will be a welcome addition to the
cannabis campus and is a reason for other cannabis businesses to look to us for
a facility. Veritas, (VRT and VRTHF), is a public company, of which Marapharm
owns 15 million shares, so entering into a joint venture with Veritas
represents another level of commitment", said Linda Sampson, Marapharm's
CEO.
ABOUT
MARAPHARM VENTURES INC.
Construction photos and videos can be accessed through the
Marapharm website. Marapharm's common shares are publicly traded in Canada,
under the ticker symbol "MDM" on the Canadian Securities Exchange,
and in the United States, under the ticker symbol "MRPHF" on the
OTCQB, and in Europe, under the 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. 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 (http://www.thecse.com), the OTC website (http://www.otcmarkets.com), and the SEDAR
website (http://www.sedar.com) under the profile for
Marapharm Ventures Inc.
STOCK
EXCHANGES:
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, specifically with respect to the proposed joint
venture arrangement with AlphaPheno Inc. and Veritas Pharma Inc. and the
construction of a laboratory on Marapharm's Washington property. 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. Specifically, Marapharm may not be able to
complete the construction of the laboratory on the terms proposed and there is
no assurance the joint venture arrangement will proceed to completion or be
successful.
FOR FURTHER INFORMATION:
http://www.marapharm.com or Linda Sampson, CEO, +1-778-583-4476
info@marapharm.com
SOURCE Marapharm Ventures Inc.
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