Marapharm Gives Progress Report of Washington Facility

Marapharm Ventures (CSE:MDM; OTXQX:MRPHF) announced the rehabilitation of its cultivation site in Washington State will be completed by the end of March.

As quoted in the press release:

Washington State Liquor Control Board recently released cannabis sales reports for October 2017, making this a record month with the generation of $142 million taxable revenue. Current market values in Washington State will enable our tier 3 tenant to recommence production and sales into this lucrative marketplace, triggering the retroactive lease revenue owed to the Company with additional generation of revenue for ancillary services.

During renovations we have worked closely with our architect and engineering partners to design one of the most advanced and environmentally friendly cannabis cultivation sites in North America. To operate in the Pacific Northwest climate the 28,000 sq. ft building has a new silicone membrane roof and the interior has been insulated with expanding, closed cell foam. Our flagship tenant AlphaPheno Inc., a tier 3 producer and processor will be able to cultivate 30,000 sq. ft of plant canopy, the maximum allowed by the license, in just 28,000 sq. ft of floor space with minimal water, power and waste.

Click here to read the full press release.