Marapharm Ventures Acquiring Facilities and 3 Medical Marijuana Licenses in California - Video News Alert on Investmentpitch.com

Vancouver, British Columbia--(Newsfile Corp. - November 17, 2016) - Marapharm Ventures (CSE: MDM) (OTCQB: MRPHF) (FSE: 2M0) has entered into an agreement to purchase an industrial facility in southern California and 3 medical marijuana licenses for manufacturing, cultivation, and retail uses.

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The US $3.2 million acquisition includes a 40,510 square foot facility, with a 6,875 square foot building, with a 19-foot-ceiling clearance. The yard area is paved and suitable for greenhouse growing. The purchase price is based on US$450 per square foot for the building and US$65 per square foot for the land. The purchase is subject to completion of satisfactory due diligence, including background checks, and closing documentation for the issuances of the 3 licenses to Marapharm within 120 days, with the closing to take place 120 days from the removal of contingencies.

Linda Sampson, CEO, stated: "We are really excited to have such a prize property as well as three licenses, and to be in the California market. The 'Yes' vote in California is significant for a number of reasons: (i) California, if it were a stand-alone state, would be the 6th largest economy in the world, with a population of 40 million people, and (ii) this decision means the entire West Coast of the United States has legalized recreational marijuana. Once Canada is legal, the West Coast all the way from Mexico to Alaska will be legal, so the opportunity is huge."

Marapharm currently has 300,000 square feet of medical marijuana licenses, land, and facilities in Washington and Nevada.

About two and a half years ago, Marapharm applied in Canada to Health Canada for a MMPR license, having since 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, known as Access to Cannabis for Medical Purposes.

For more information please visit the company's website www.marapharm.com, or contact Linda Sampson, CEO, at 778-583-4476 or email info@marapharm.com.

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