FinancialNewsMedia.com News Alert: KELOWNA, British Columbia, – (http://www.financialnewsmedia.com News Alert) – Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM) (“Marapharm”) announces that it is paying the Nevada Title, Escrow Agent, for full payment and discharge of the first mortgage financing on 5.9 acres located in Apex Industrial Park, Las Vegas, Nevada. In addition Marapharm is paying cash without debt for the previously announced addition of 1.1 adjoining acres.
“We’ve received several million dollars recently from warrants being exercised by loyal shareholders with more coming in daily, and we decided to pay off our debt, which is this one mortgage. We paid $445,500 USD for the property and financed $309,000. In addition we paid taxes and fees and posted about $100,000 for wet and dry utility bonds. We’ve also done improvements on the site and have invested more than $100,000 on site and facilities planning. And we’ve paid for buildings that are to be delivered within 3 weeks and erected for cultivation. The monthly mortgage payments were $2,785.22″ said Linda Sampson, Marapharm CEO and she added “paying off a relatively small mortgage and paying $110,000 cash for the 1.1 acres may not sound like a big deal but to us the significance is that we did what we planned to do in terms of reaching our milestones.” Read this and more news for Marapharm at: http://financialnewsmedia.com/profiles/mrphf.html
“With more than 50 million adult visitors each year, Las Vegas is the known as the best cannabis play in the world. Marapharm chose Las Vegas and Nevada for its model and for a place we wanted to be for doing business. There’s no state corporate income tax, there’s no personal income tax, there’s City tax concessions, there’s excellent State incentives and we are located in a logistical hub of 11 state regions. Further there’s an educated and cost effective workforce and a superior telecommunications infrastructure. So we believe that we are in the right place at the right time” says Linda Sampson. Marapharm CEO.
ABOUT MARAPHARM VENTURES INC.
Marapharm has 300,000 square feet of medical marijuana licenses and land and facilities…