Marapharm Ventures, Inc. (OTCMKTS: MRPHF) Closes on Key Transactions

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We were talking just last week about Marapharm Ventures, Inc. (OTCMKTS: MRPHF) obtaining some key funding, and pledged to keep track of any developments that might occur henceforth.

We didn’t have to wait very long on that front, with Marapharm releasing a pair of PRs in the short time since we were mentioning it. One of those was pertaining to agreements the company announced back in March and April.

Marapharm Ventures, Inc. (OTCMKTS: MRPHF) had previously announced that it had entered into a Letter of Intent and Definitive Agreements to expand the Company’s Washington State operations. The Company has now announced that it has closed the foregoing transactions and acquired certain operational assets, land and water rights related to two licensed cannabis producers and processors operating in Tonasket, Washington. Just South of the Canadian border in Central Washington, Tonasket is home to some of the world’s most productive orchards. This ideal climate sees approximately 300 days of sunshine a year providing a cannabis grow season that can last approximately 164 days.

The sun-grown season is currently underway in Tonasket. Sun-grown cannabis can be as terpene-rich as indoor, demonstrating the unique aroma and flavor profiles imparted by the culmination of various factors including growing location, soil, elevation and climate.

To take advantage of the sun-grown season, Marapharm is currently funding the preparation of the Property for this summer’s cultivation and fall harvest. All above-ground irrigation has been installed and growing areas constructed for both Licensees. The Licensees have also secured all necessary operating permits and approvals needed to bring cannabis plants on site starting the last week of May.

In addition, the Licensees have secured the services of Mr. Ian Dykstra to manage the day-to-day operations of the Licensees. Mr. Dykstra is a master grower who has extensive cannabis growing experience and owns his own cannabis production license. He recently won “Best Light Dep Flower – THC” at Sun Cup 2018. To date, Mr. Dykstra has ensured preparations at the Property are under budget and on schedule.

The Licensees will cultivate up to 40,000 sq. ft. of cannabis plant canopy. Marapharm anticipates to be processing this sun-grown cannabis product at the licensed facility in Lynden, Washington.

“We are excited to assist our Washington partners commence planting and growing in Tonasket. For the “cannassieur,” it is the experience of seeking unique nuances of flavor imparted by the earth which can be detected in sun-grown cannabis”. Linda Sampson, CEO (Source: PR Newswire)

The company also announced that its first three Maragold skin care products, infused with CBD, will be available for purchase at its retail dispensary in Desert Hot Springs, California, beginning this week. During market research, it was determined that the products would include, Summer Rescue (after-sun oil), Sugar Baby (full body moisture oil) and Juicy (facial serum). Each product is a blend of hemp oil, a combination of raw essential oils (each rich in vitamins, minerals and natural emollients) and 75 mg of CBD extract.(Source: PR Newswire)

We have been focused a lot on the newly developing Californian recreational market, as well as Canadian cannabis, so it’s good to get a Washigton State based operation into the rotation. We’ll be sure to continue looking out for key events. We’ll stay up on any further developments with MRPHF and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free small cap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!

 

Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in MRPHF stock, short or long.

 

 

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