Marapharm Ventures Inc. "Marapharm" Provides Construction Updates for 13.6 Acres of Industrial Land and Buildings Located in Washington State and 7 Acres in Nevada
PR Newswire PR NewswireMarch 11, 2017
KELOWNA, British Columbia, March 11, 2017 /PRNewswire/ --
"Nevada: December 19, 2016 Marapharm announced an update of construction on the 7 acres of property we own in Las Vegas. Some of the items and dates given then had time changes but the end date of March 30th for the buildings to be erected at the present time is on target. Photos and a video from a few days ago are posted on the website under the Las Vegas Project tab. The buildings are on the ground and the ground is being prepared. The plan is still to be growing by the end of April. The planning for the buildout of the entire 360,000 square feet of buildings is underway. All cultivation inventories have been pre-sold." Linda Sampson, Marapharm CEO.
Washington: March 9, 2017 the Washington State LCB (Liquor Control Board) have approved the plans submitted for the construction and renovation of one of the buildings located on the 13.6 acres of land recently purchased. The approval is for the 30,000 square foot building and comes with the requirement for Marapharm to provide regular photo updates of the progress to the LCB. The county is now reviewing the capping of the fire sprinklers for approval as part of the overall process.
News Release Summary References, for Washington State:
February 27, 2017 Marapharm announced steps underway to construct / create a cannabis campus. February 12, 2017 Marapharm announced that its subsidiary Marapharm Washington, LLC "Washington WA" had entered into an agreement to purchase 13.6 acres of industrial, highway frontage property located a few minutes south of the Canadian border for $4.2 million US. The transaction closes February 28, 2017. Previously, on June 16, 2016, the Company announced that it had concluded a deal for a lease of a 30,000 square foot building and an option to purchase 13.6 acres of industrial property located in Whatcom County, Washington State. Further, on August 17, 2016, Marapharm announced that Marapharm WA had closed on the purchase of the assets of a 30,000 square foot operating tier 3 marijuana cultivation and processing facility, located in Washington State and on September 27, 2016 and November 1, 2016 provided updates with regard to the Washington operations. Marapharm has been making lease payments on the property and has chosen to act on the option to purchase the land.
