Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0)
(“Marapharm” or the “Company”) announces today that it intends to
proceed with a non-brokered private placement of up to 9,000,000 Units
(“Units”) at CDN $0.50 per Unit to raise gross proceeds of up to
$4,500,000 (the “Unit Offering”).
The Unit will consist of one common share of the Company (a “Common
Share”) and one-half of one common share purchase warrant of the
Company (each whole warrant, a “Warrant”). Each warrant entitles the
holder thereof to purchase one Common Share of the Company at an
exercise price of $0.70 for a period of 12 months from the date of
issuance of the warrant.
Pursuant to the terms of the warrants, the expiry date of the warrants
may be accelerated should the closing price at which the common shares
trade exceeds $0.85 for five consecutive trading days. Any warrants
which remain unexercised after the accelerated expiry date will be
The net proceeds raised from the Unit Offering are intended to be used
for (i) further development of the Company’s Las Vegas project (ii)
further development of the Company’s project in Washington State (iii)
further development of the Company’s projects in California and general
corporate purposes. The common shares and warrants issued pursuant
to the non-brokered offering are subject to a four month hold period. No
finder’s fees will be paid in connection with this non-brokered offering.
ABOUT MARAPHARM VENTURES INC.
Marapharm is a publicly traded company investing in the medical and
recreational cannabis space, since 2014. Marapharm has rapidly
expanded to include having cultivation, production and dispensary
locations in the key North American states of Washington, Nevada, and
California, and are seeking expansion opportunities worldwide.
FOR FURTHER INFORMATION:
www.marapharm.com or Linda Sampson, CEO 778-583-4476