MARAPHARM VENTURES COM NPV (OTCMKTS:MRPHF) Is Well Positioned In Las Vegas

Like most stocks in the cannabis sector, MARAPHARM VENTURES COM NPV (OTCMKTS:MRPHF) has been on a downtrend lately. However, the stock is beginning to show signs of a reversal. On June 29, 2017, the stock gapped up on the open from $.7630 to $.8900, and traded up to a closing high of $.92, on higher than average volume. Over the next 2 days the stock traded to a high of $1.10. The stock is currently trading at $1.06.

The next few days will tell the tale as to whether or not the up-spike is that beginning of a reversal for MRPHF. The sudden spike comes amid a favorable announcement regarding cannabis licenses acquired by the Company.First, a little background on the company. Marapharm Ventures Inc. is a publicly traded company, primarily investing in the medical and recreational cannabis space, with operations based in British Columbia, Canada. Through its wholly owned operating subsidiary Marapharm Inc., the Company has applied to Health Canada to become a licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The Company’s growth strategy will be to build facilities or acquire licenses in the United States, determined by identifying opportunities in the market. The company has currently focused its attention on opportunities in Nevada, Washington and California. Land has been purchased and construction has begun in the Apex Business Park in the City of North Las Vegas, Nevada. The company’s intention is to build cultivation and processing facilities in this location.On July 3, 2017, Marapharm Ventures Inc announced the approval of 2 recreational marijuana licenses, a cultivation, as well as, a production license for edibles and oils. Business licenses have also been approved and issued by the City of North Las Vegas. Just a few days prior on June 29, 2017, the Company announced that one recreational license had been approved and issued. The company now holds 3 recreational marijuana licenses for 290,000 square feet of cultivation and production in Las Vegas, Nevada. In addition, 35,000 square feet of rooftop greenhouse canopy has been approved which is a multiple greenhouse system for the roof. Marapharm has more than 300,000 square feet of recreational marijuana licenses. CEO Linda Sampson stated:

"This is a big milestone for us! Recreational sales are legal in Nevada on July 1, 2017. There are more than 50 million adult tourists a year to Las Vegas. As far as we know, Marapharm is the largest recreational license holder in the state of Nevada. We will grow and sell cannabis from the existing modular buildings. Construction of our main buildings are underway, photos are on our website."

In other news, June 15, 2017 marked the launch of Marapharm.TV, the online news channel which the Company announced on April 27, 2017. Marapharm.TV will be an in-house production providing regular media programs on the industry and on the Company itself. Marapharm CEO Linda Sampson commented:

"Marijuana is news. The http://www.marapharm.tv channel will broadcast regular programs on the industry and on Marapharm. In addition, there will be a weekly Market Report of Marapharm's stock activity and of its operations. Our proforma indicates that millions of viewers could be reached including investors, shareholders and those who just interested in news of the marijuana industry.”

On June 14, 2017, Marapharm Ventures’ Board of Directors appointed Brian Lovig as Interim-President while the Company expands its operations and prepares to scale production in Nevada. Brian Lovig is a businessman with vast entrepreneurial experience who has been involved in the establishment of multiple businesses in multiple sectors. He is the founder and facilitator of Marapharm and is familiar with its current projects and personnel.On the financial side of the Company, Marapharm announced on June 28, 2017 that $1,247,400.00 had been received from the closing of a warrant series dated June 17, 2017. That leaves one warrant series remaining, which will expire on September 6, 2017. Due to the early exercising of the September warrants, Marapharm has received $1,256,700. $3,498,800 remains to be exercised. This will help the Company shore up its cash position on its balance sheet so that it can continue to execute its expansion plans. The Company is still pre-revenue. Current market capitalization stands at $76.34 million, on 80.36 million shares outstanding as of June 30, 2017.All government impasses preventing the company from generating revenues have now been removed. We will keep a close watch on Marapharm Ventures Inc and look for revenues to start flowing. Overall, Marapharm is one of the best positioned companies to capitalize on recreational marijuana in Las Vegas, making the stock a must-own for cannabis investors. We will be updating our subscribers as soon as we know more. For the latest updates on MRPHF, sign up below!Image courtesy of FlickrDisclosure: We have no position in MRPHF and have not been compensated for this article.