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Marapharm Ventures (CSE: MDM) (OTCQB: MRPHF) (FSE: 2M0) announced a non-brokered Private Placement

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Additional Information:

Company: Marapharm Ventures
Website: https://www.marapharm.com
Stock Symbol: CSE: MDM
Date Published: Feb 29, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch Media

Marapharm Ventures (CSE:MSDM) (OTCQB:MRPHF) (FSE:2M0) has announced a non-brokered private placement. Marapharm and Marapharm Inc., its wholly-owned subsidiary in Canada, and Marapharm Las Vegas LLC, are engaged in the development, production of and commercialization of phytocannabinoid-based pharmaceutical products.

The company plan to issue up to 5 million units at $0.20 per unit to raise gross proceeds of up to $1 million.

Each unit consists of one share and one warrant, with each warrant exercisable at $0.40 for one year.

The proceeds will be used to further development of the company’s North Las Vegas project, for potential licensing investigation and development in Washington State, and for working capital.

In Canada, the company has applied to Health Canada to become a licensed producer under the Marijuana for Medical Purposes Regulations, and has advanced past the security clearance stage, a significant milestone in that process.

Marapharm is trading at $0.235 and with 36.6 million shares outstanding, the company is capitalized at $8.6 million.

For more information please visit the company’s website www.marapharm.com, or contact Les Kjosness, President, at 604-952-6676 or email les@marapharm.com.

Investor relations is handled by Terry Yuck of Bayside Management, who can be reached at 403-861-5775 or email terry@marapharm.com.

I’m Samantha Deutscher for InvestmentPitch Media