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$MRPHF $MDM.CN – Marapharm Ventures Inc. Announces Purchase of Remainder of Shares of EcoNevada, LLC, Purchase of 1.1 Acres and Discussions With Casinos for ACM Placements

Tuesday, November 29, 2016 7:19
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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 further to its news releases dated August 3, 2016, September 21, 2016, September 27, 2016, November 7, 2016, November 9, 2016, and November 14, 2016, Marapharm announces the purchase of the remaining 25% equity interest in EcoNevada, LLC, (“EcoNevada”), a private company based in Las Vegas, Nevada, such that Marapharm now owns 100% of the issued and outstanding shares of EcoNevada. EcoNevada has provisional marijuana licenses and special use permits over 204,000 square feet of cultivation and 16,000 square feet of production.

“We have now completed the deal which was made a year ago, when we purchased control of EcoNevada. The price for the minority position of 25% was 100,000 shares of Marapharm, as agreed to in the original transaction, to suit the needs of the sellers for tax and other reasons. Since recreational use of marijuana has been legalized in the state of Nevada, EcoNevada has increased in value to Marapharm, both as an asset and as a main vehicle to drive revenue in Nevada.” said Linda Sampson, CEO of Marapharm.

“We just bought the adjoining 1.1 acres to the 5.9 acres we acquired, in order to accommodate parking requirements from the City of North Las Vegas to allow for the three licenses to be consolidated on one property,” added Linda Sampson. Read this and more news for Marapharm at http://financialnewsmedia.com/profiles/mrphf.html

In addition, further to its November 23, 2016, news release, Marapharm reports it is in advanced discussions with several large casinos in Las Vegas for the placement of automated cannabis machines (ACMs) in casinos. It is proposed that the ACMs will stock and only sell Marapharm products from its 380,000-square-foot facility located in Las Vegas. There is no guarantee that such discussions will result in any agreements or be fruitful or beneficial to Marapharm.

ABOUT MARAPHARM VENTURES INC. http://www.marapharm.com – Marapharm has 300,000 square feet of medical marijuana licenses and land and facilities in WA and NV and about two…

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