Marapharm Ventures Inc (OTCMKTS:MRPHF) has signed a letter of intent to take over Full Spectrum Medicinal Inc. The company has set September 30, 2018, as the deadline to conduct due diligence on Full Spectrum and complete the acquisition.
Following the takeover, Marapharm Ventures will merge Full Spectrum application with Health Canada Application. It helps to become a licensed cannabis manufacturer of premium flower for commercial use. The company will be able to deliver organic and quality cannabis products in a cost-effective way and boost profits.
The business model of the company is to build standardized engineered bio-secure facilities. The state of the art facilities are scalable and saves energy and promote cost-effective cultivation. The company will be able to grow quality cannabis indoors at reduced costs. Marapharm Ventures will deliver the first assembly building at an approved site situated near the Salmon Arm, British Columbia.
The company is planning for penetration of the legal cannabis with edibles, oils, and flowers and build a long-term value in the rapidly growing market.
Canada Legalizes Marijuana
Justin Trudeau, Prime Minister, Canada has announced the legalization of marijuana on June 20, 2018. The legalization of marijuana comes into effect from October 17, 2018. It has put an end to the prohibition of cannabis in Canada.
Marapharm Ventures Inc Issues an Update on Market Activities to The Shareholders As Frankfurt’s Clearstream Closes Doors to The North American cannabis stocks
Marapharm Ventures Inc has issued an update on the recent market activities to the shareholders on the backdrop of Frankfurt’s Clearstream shutting the doors to North American Cannabis stocks.
Frankfurt, Germany based major central securities depository – Clearstream has set June 29, 2018, as the deadline as for final settlements free of fee. However, Clearstream will offer the services till September 28, 2018, and after that it will not settle the securities related to cannabis and narcotic products due to legal reasons.
The list of impacted securities include GW Pharmaceuticals PLC (NASDAQ:GWPH), Canopy Growth Corp (NYSE:CGC), Aurora Cannabis Inc (OTCMKTS:ACBFF), and Marapharm Ventures Inc.
Marapharm Ventures Inc has a number of Germany based shareholders. The company is making alternative arrangements in view of the sudden decision of Clearstream.