Darn it I was gonna post this lol
News Release
August 15, 2018, Kelowna, BC
Marapharm Ventures Inc. Updates Shareholders on Licensing in Nevada
Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) (“Marapharm” or the “Company”) updates shareholders on its proceedings to establish jurisdictional licensing in preparation for the sale of cannabis, once in full production.
As reported by news release on July 27, 2018, cultivation in our temporary buildings continues, allowing us to maintain our production schedule. Contractors are working with the City of North Las Vegas and the State of Nevada to meet the necessary requirements for the Certificate of Occupancy’s. This will permit the Tax Departments final inspection and the transfer of plants to the new facilities.
On June 22, 2018, Marapharm applied for three City of Las Vegas Business Licences. The Company is pleased to report that after an in-depth application and interview process, which typically takes several months, the City of Las Vegas expedited our three 90-Day Temporary Conditional Licences for Econevada and Phenofarm on August 2, 2018.
These licences permit the distribution of cannabis from our facilities in North Las Vegas to dispensaries in the Las Vegas metropolitan area which in 2017, saw spending estimated at $34.8 billion by more than 42 million visitors. The year-to-date as at June 2018 showed visitor numbers over 21 million. www.lvcva.com
On July 5, 2018, the State of Nevada, Department of Taxation issued a notice seeking applications from qualified applicants to award recreational marijuana retail store licenses. The number of available licences is limited. The Company is qualified to apply for up to 3 retail store licenses in Las Vegas and surrounding jurisdictions.
All Applications in the strictly regulated cannabis space are laborious, however, the Company has successfully applied for and received 19 city and state regulatory licences and permits in Nevada to date. “We will prepare and produce our retail applications to the state regardless of the scope of work and the narrow 14-day application period”. Linda Sampson, CEO.
Nevada Department of Taxation reported by news release on June 28, 2018. “April marks a significant milestone for the state, as tax revenues from marijuana hit—and exceeded—the amount that was projected for the entire fiscal year, with two months of collections still to go. Marijuana tax revenues through April total $55.53 million, 110 percent of what was projected for all of fiscal year 2018.” Bill Anderson, Executive Director, - tax.nv.gov PDF
