Marapharm Ventures Acquires Control of Medical Marijuana Delivery Service in California - Video News Alert on Investmentpitch.com

February 21, 2017 11:15 AM EST | Source: InvestmentPitch Media

Vancouver, British Columbia--(Newsfile Corp. - February 21, 2017) - Marapharm Ventures (CSE: MDM) (OTCQB: MRPHF) (FSE: 2M0) is purchasing a Medical Delivery Service in Rancho Mirage, Coachella Valley, California, which delivers, facilitates and coordinates cannabis transactions between qualified patients and caregivers.

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The population of the valley is 500,000, with an additional 3.5 million annual conventioneers and tourists, and connects with the 19 million residents of Greater Los Angeles area to the West.

Marapharm purchased 80% of the shares of Moringa Cooperative, with the balance of 20% remaining with the founding group, who will continue to operate the business, which is authorized to engage in any lawful cannabis transactions in California. Moringa currently operates as MedicalDriveBy and a change to Marapharm Delivery or other names is being considered. Terms of the transaction are US$300,000. Additional funds may be required for further delivery vehicles, expansion and working capital.

Linda Sampson, CEO, stated: "Delivery services for cannabis are a big profit business in other locations in the United States and we're excited for our first one to be in California. Marapharm's business model is to be part of the entire marijuana experience in different States and countries, to grow it, sell it and now to deliver it. This is great diversity!"

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.

Marapharm is trading at $1.40.

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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