Marapharm Ventures (CSE:MDM) announced this week that that it has entered an agreement to acquire two provisional medical marijuana licenses from a Nevada based enterprise. The licenses allow for the cultivation and extract production of medical marijuana in the state.
As quoted in the press release:

The acquisition complements the Company’s business strategy to expand its business footprint within the U.S. emerging marijuana markets and the rapidly increasing number of legalized medical and recreational jurisdictions in the United States.
The terms of the agreement are for the initial acquisition of 75% of the Interests from a third party acting as agent. The provisional medical marijuana licenses consist of a 199,862 square foot cultivation approved license and a 16,320 square foot approved extract production license for edibles and all marijuana infused products. The purchase price is for USD $600,000, comprised of a cash portion of USD $300,000 principal due within one year at 4.5% interest payable monthly, and the balance of the purchase price to be paid from the issuance of USD $300,000 treasury shares of the Company to be issued at CDN $0.24 per share, with exchange calculated effective February 17, 2016 and subject to applicable regulatory hold periods. The Company has advanced approximately CDN $300,000 to the agent that will be offset to the purchase price on closing. The Company intends to complete negotiations on acquiring the remaining 25% Interests from the private corporation in the near future. The transaction is also subject to applicable statutory, regulatory, and compliance laws, and approvals, transfers and State security deposits as required.


Marapharm CEO, Les Kjosness, said:

We are excited about this latest step in our corporate development. Our business model is predicated on “early presence” within the newly re-regulated jurisdictions and aggressive expansion through acquisition of licensed operations. Through a combination of purchase and internal organic growth opportunities, we intend to expand our network of cultivation and production facilities in the United States. The rapidly changing political and business landscape for the entire sector presents an enormous opportunity for companies that are positioned to capitalize.

Click here for the full press release.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

CANBUD Distribution Corp. (CSE:CBDX, FSE:CD0) leverages on timely and methodical execution of its revenue generating plan. It operates a trinitarian enterprise model in the plant-based protein, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) spaces. (www.canbudcorp.com).

Keep reading... Show less

(TheNewswire)

Keep reading... Show less

Market entry will address pent-up demand in the Japanese & Philippine markets for TRACE proprietary plant-based mineral formulation and wellness-focused products

Emerging leader in innovative health and wellness beverages and natural products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that has entered into an exclusive sales agency distribution agreement with Yokohama-based Mirai Marketing Inc. (“Mirai”) to bring Naturo Group’s TRACE proprietary plant-based mineral consumer products to Mirai’s extensive Japanese and Philippine sales and distribution networks.

Keep reading... Show less

Further to its press release dated April 12, 2021, Ayurcann Holdings Corp. ( CSE: AYUR ) (the “ Company ” or “ Ayurcann ”), is pleased to announce that it has oversubscribed and upsized its non-brokered private placement (the “Offering”) due to strong investor demand. The Company now anticipates that the Offering will be completed for gross proceeds of not less than $550,000.00, consisting of not less than 2,910,053 units (“Units”) at a price of $0.189 per Unit. Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one Common Share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire one Common Share at an exercise price of C$0.38 per Common Share for a period of 36 months from the date of closing of the Offering (the “Closing Date”), scheduled for April 22, 2021. The Units will have a hold period of four months and one day from the date of issuance.

Ayurcann CEO Igal Sudman commented: “We are very pleased with the demand we are seeing for the Offering. The feedback we have received to date is showing that our business is resonating with investors. We’re looking forward to closing the offering and proceeding with the planned Phase 2 build out, which will help greatly increase our facility’s capacity.”

Keep reading... Show less

UK InstaCoin APP Promises to Open NFTs up to the Masses through Social Media

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to provide an update on its recent investment in InstaCoin Technologies Ltd., a newly formed UK entity

Keep reading... Show less