Marapharm Ventures Expanding Washington State Operations With Sun-Grown Production

CANADA: Marapharm Ventures has entered into a Letter of Intent and Definitive Agreements to expand its Washington State operations. In a press release, the company announced 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 WashingtonTonasket 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 licenced facility located 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

Marapharm Is Building A Third Facility In Las Vegas

CANADA: Marapharm Ventures Inc. has announced construction plans for a third building which will be 65,635 square feet on the 7 acre property located in Las Vegas, adjacent to 2 existing cultivation buildings. The ground prep pad is ready to build on, most infrastructure is designed and in place and building plans go for bid in October 2017. Construction will begin soon thereafter. This building is slated to be the first 3 story cannabis building in the state of Nevada.

“Current pricing and comparable facilities in Nevada indicate that revenue from the new 3 story building will potentially be $50 million gross and $30 million net, after operating costs, for the first year (source Kurt Keating). We will be at about 20% build out with regard to the square footage of the licenses we have.  Marapharm is the largest marijuana license holder in Nevada.” Linda Sampson, CEO, Marapharm.

Marapharm engaged Kurt Keating to do the evaluation of this project. Kurt won 2 High Times Cannabis Cups in 2014 while cultivating medical cannabis and he has been consulting, evaluating and growing cannabis for several years. The market price for this type of marijuana at present is approximately $2300 wholesale per pound in Nevada. The evaluation for the three floors is 22,600 pounds per year.

Marapharm Wins Conditional Approval As Nevada Marijuana Distributor

NEVADA: The Nevada Department of Taxation, the main oversight body for marijuana in the state, conditionally approved Marapharm Ventures‘ application for a marijuana establishment distributor license, subject to vehicle and facility inspections.

This is the first award among multiple applications Marapharm submitted. The conditional approval means Mararpharm may proceed with purchase of vehicles with essential operating standards that include interior climate control to ensure the integrity of the products carried between licensees and security features to protect product, drivers, and the community during transit.

“Marapharm is one of the first marijuana businesses of more than 80 applicants to receive a conditional distribution license. This is great news.” Linda Sampson, Marapharm CEO