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!

Two US-based multi-state operators (MSOs) added fuel to the ongoing merger and acquisition (M&A) train currently making its way across the cannabis sector.

On the flip side, one of Canada’s biggest cannabis producers told the market this week that it has no interest in further acquisitions in the Canadian market.

Keep reading... Show less

 Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”), a wellness company that makes and sells plant-based products, is ramping up production at its Victoria, BC production facility to fulfill incoming orders from seven Whole Foods Market in Ontario, Canada (“Whole Foods”).

Cannot view this image? Visit:

Keep reading... Show less
  • Domestic Medical Net Revenue Steady at $26.9 Million
  • Strong International Medical Net Revenue of $9.4 Million
  • Total Cannabis Net Revenue, Excluding Provisions, of $58.4 Million
  • Business Transformation Plan Continues, Management Expects to Deliver Incremental Cost-Saving Measures of $60 Million to $80 Million Annually
  • Balance Sheet Remains Strong with ~$525 Million of Cash on Hand at May 12, 2021
  • Lead Independent Director Ronald Funk Appointed as Chairman, Michael Singer to Remain Board Member


 Aurora Cannabis Inc. (the ” Company ” or ” Aurora “) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced its financial and operational results for the third quarter of fiscal 2021 ended March 31, 2021 .

Keep reading... Show less

Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies

Keep reading... Show less

Experienced executives fill senior roles in business development, M&A, clinic operations and design, and corporate communications

Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced the appointments of five experienced leaders to support strategic growth initiatives across the Company’s three divisions Numinus Health, Numinus R&D and Numinus Bioscience.

Keep reading... Show less