Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) is pleased to announce that the non-brokered private placement unit offering announced in a news release on May 17, 2018, for gross proceeds of $4,000,000 has closed oversubscribed for total gross proceeds of $4,500,000.

The non-brokered private placement of 7,500,000 Units at CDN $0.60 per Unit the Unit consists of one common share of the Company and one-half of one common share purchase warrant of the Company.  Each warrant entitles the holder thereof to purchase one Common Share of the Company at an exercise price of $0.70 for a period of 12 months from the date of issuance of the warrant.

Pursuant to the terms of the warrants, the expiry date of the warrants may be accelerated should the closing price at which the common shares trade exceeds $0.85 for five consecutive trading days. Any warrants which remain unexercised after the accelerated expiry date will be cancelled.

The net proceeds raised from the Unit Offering are intended to be used for (i) further development of the Company’s Las Vegas project (ii) further development of the Company’s project in Washington State (iii) further development of the Company’s projects in California and general corporate purposes. The common shares and warrants issued pursuant to the non-brokered offering are subject to a four month hold period. No finder’s fees will be paid in connection with this non-brokered offering.

“We are weeks away from entering production at our newly built facilities in Nevada. 2018 will be the first revenue producing year for the Company, we are passionate about our future and excited to achieve these significant milestones,” Linda Sampson, CEO.

ABOUT MARAPHARM VENTURES INC.

Marapharm is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Marapharm has rapidly expanded to include having cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.