KELOWNA, British Columbia, January 9, 2017
KELOWNA, British Columbia, January 9, 2017 /PRNewswire/ --
Marapharm symbols: United States - OTCQB:MRPHF / Canada - CSE:MDM / Germany - FSE:2M0
Marapharm Ventures Inc. ("Marapharm") Kelowna, British Columbia, announces that it has subscribed for a total of 5 million units in a private placement offering of Veritas Pharma Inc. ("Veritas"), at a price of 22 cents per unit for an investment of $1,100,000.00 Each unit consists of one common share and one share purchase warrant, for a total of 5 million shares and 5 million warrants. Each warrant will entitle the company to acquire one additional share at a price of 30 cents per share for a period of 18 months from the date of issuance.
Marapharm may, depending on market and other conditions, increase or decrease it's ownership of common shares of the company, whether in the open market, by privately negotiated agreement or otherwise going forward.
ABOUT VERITAS PHARMA INC.
Veritas applies a comprehensive scientific approach to medical marijuana claims. Veritas's mission has been to develop the most effective proprietary cannabis strains for specific disease conditions and to provide doctors and patients with conclusive science evidence to recommend and use medical marijuana with confidence.
ABOUT MARAPHARM VENTURES INC.
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 (http://www.thecse.com), the OTC website (http://www.otcmarkets.com) and Sedar website (http://www.sedar.com) under the profile for Marapharm Ventures Inc.
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.
FOR FURTHER INFORMATION:
SOURCE Marapharm Ventures Inc.