KELOWNA, British Columbia, Nov. 24, 2017 /PRNewswire/ — Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) (FSE: 2M0) (“Marapharm” or the ” Company”) (http://www.marapharm.com/) “Marapharm” says that their annual AGM (Annual General Meeting) in Las Vegas, Nevada, on November 17, 2017, was well attended and successful.
The open house that followed was held at the Marapharm facility in Las Vegas, and showcased Marapharm’s successes thus far as well as allowed for those driving that success to show their appreciation.
This event was attended by more than 300 shareholders, investors, and industry leaders who travelled from Canada, Germany, Switzerland, Spain, England, and all over the United States to celebrate Marapharm’s exponential growth in such a dynamic and rapidly expanding industry.
”The corporate strategy was reaffirmed at the AGM and we are looking forward to a great 2018. The open house was fantastic! So many people attended! Marapharm’s president, Brian Lovig, was joined by Councilman Isaac Barron and Councilwoman Pamela Goynes-Brown for the ground breaking for the third building which is a 65,635 square foot cultivation building.” Linda Sampson, Marapharm CEO.
Photographs of the event are being posted daily on our website.
Marapharm engaged Kurt Keating to do the evaluation of the 65,635 square foot facility located in Las Vegas. 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. Current pricing and comparable facilities in Nevada indicate that revenue from the new 3 story building could potentially be $50 million gross and $30 million net, after operating costs, for the first year of production which is expected to begin in 2018. (source Kurt Keating).
The Marijuana Business Conference and Expo, the industry’s largest annual gathering, was held in Las Vegas the week of Marapharm’s AGM and Open House.
18,000 cannabis business leaders and investors attended the conference to listen to the 110+ speakers and interact with the 678 exhibitors that took over 300k square feet of Expo Hall space. Marapharm partners and employees were among the forward thinking visionaries who were excited to witness the progression of our industry.
ABOUT MARAPHARM VENTURES INC.
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