FinancialNewsMedia.com News Alert: KELOWNA, British Columbia, – (http://www.financialnewsmedia.com News Alert) – Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2M0) (“Marapharm”) announces, that in addition to the transaction described in the news release dated November 14, 2016, it has entered into another agreement to purchase an industrial facility in southern California and three (3) medical marijuana licenses for manufacturing, cultivation, and retail uses. The land size is 0.32 acres and the existing building size is 2,756 square feet, with an 18-foot-ceiling clearance, for a purchase price of $950,000.00 USD, based on a purchase price of less than $350 USD per square foot. There is excess land for expansion on the corner parcel and the yard area is paved and suitable for greenhouse growing. The purchase is subject to, and contingent upon, completion of satisfactory due diligence, including background checks, and closing documentation for the issuances of the three (3) licenses to Marapharm within 60 days, with the closing to take place 60 days from the removal of contingencies.
“We are really excited to have a second property as well as three more licenses in the California market. Marapharm is positioning to be an effective competitor and marketer in the most populous state in the nation. Smaller and well located facilities like this one are perfect for training staff and for product testing of new strains and products,” says Linda Sampson, Marapharm CEO and director. Read this and more news for Marapharm at http://financialnewsmedia.com/profiles/mrphf.html
Marapharm also announces that one series of warrants has been fully exercised. The warrants were issued in an offering that closed on November 10, 2015, for an aggregate issuance of 661,250 units comprised of 661,250 common shares and 661,250 warrants exercisable into 661,250 common shares at an exercise price of $0.45 for one year. The maximum amount which could be received from the warrant exercises is $297,562.50, and this amount was received in full on November 10, 2016. In addition, warrants from an offering which closed on November 6, 2015, have also been fully exercised. The offering consisted of 1,247,000 units, each unit consisting of one (1) common share and one (1) common share purchase warrant, allowing…