PALM BEACH, Florida, May 8, 2017 /PRNewswire/ --
The medical cannabis industry is once again taking a step forward as additional U.S. states have allowed medical marijuana and medical cannabis oil for a growing number of treatments for diseases and certain medical conditions. This is a good indication that the production of legal marijuana products in approved states could see a sudden uptick in business for companies such as: Marapharm Ventures Inc. (OTC: MRPHF) (CSE: MDM.CN), Eco Science Solutions, Inc. (OTC: ESSI), OWC Pharmaceutical Research Corp. (OTC: OWCP), Medical Marijuana, Inc. (OTC: MJNA) and Vitality Biopharma, Inc. (OTC: VBIO).
Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) announces a financial update on the 2nd anniversary of trading as a public company - it has raised $22,917,150.00 - The Company was listed on the CSE and began trading on May 8, 2015, with subsequent listings on the OTCQB and the FSE. Marapharm has raised $22,917,150.00 (share source: Computer Share; Transfer Agent). The proceeds have been raised by private placements, and the exercise of options and warrants as a public company. The first tranche of the bond offering, announced on February 28, 2017 is closed, the total is USD $1,280,000.00. There is $4,220,000.00 remaining and is available for subscription. There are two warrant series left to be exercised for a potential of $4,951,200.00. Marapharm has approximately $5 million cash at the present time. Read a full list of achievements for Marapharm along with the full press release & other news at: http://marketnewsupdates.com/news/mrphf.html
"We have worked hard during the past two years, and now, Marapharm is ready to grow. We have created a strong infrastructure and shareholder base. We have licenses, property and buildings."
"Coupon and convertible bonds have been used to raise construction money. Several lenders and investors have presented financing proposals for further construction options including an $80 million dollar USD conditional commitment. We will continue to scrutinize all proposals to ensure the best decisions are made for Marapharm."
"The past 2 years have been significant. We have set a foundation for long term success and expansion in this exciting market. The next few years are going to be historical!" said Linda Sampson, Marapharm CEO. Marapharm has traded 98,923,854 million shares on three stock markets for a value of $126,564,847.00 CDN in its first two years of public trading clearances.
In other cannabis industry news and performances of note:
Eco Science Solutions, Inc. (OTCQB: ESSI), an eco-technology Company providing solutions to the multi-billion-dollar health, wellness and alternative medicine industry, this past Friday announced that it has signed a Letter of Intent with Ga-Du Bank, Inc. for the purpose of acquiring full ownership of the Bank in a stock and cash transaction. Upon the closing of the transaction, ESSI will operate the Bank as a wholly-owned subsidiary of Eco Science Solutions, Inc. ESSI will own and operate a financial banking division providing payment processing, cash management and financial services to its customers in the cannabis industry.
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), an Israeli-based research company engaged in the development of cannabinoid-based therapies targeting a variety of different medical conditions and disorders, last week announced that the Scientific Advisory Team of its wholly-owned Israeli subsidiary, One World Cannabis Ltd. ("OWC") has determined the road map for continuing the Multiple Myeloma study. The purpose of the next phase of the study, which is based upon the promising results of the Company's earlier in-vitro studies of its unique formula of cannabinoid-based therapies targeting cells, is to investigate the doses and diverse delivery systems, [e.g. per os/oral vs. per rectum] in order to best determine the most effective dosages and means of delivery for a future planned study on human patients following receipt of regulatory approvals. The Company expects that the continued study will be completed during Q3 of this year.
Medical Marijuana, Inc. (OTC: MJNA), the first publicly traded cannabis company in the United States, announced last Friday that it has expanded its innovative product offerings to include a variety of vaporizers designed to provide consumers with a safe and enjoyable delivery method for dry herbs and concentrates. Now available to purchase on the Medical Marijuana Inc. website are tabletop (commonly referred to as 'desktop'), portable, and pen vaporizers designed for dry herb as well as concentrate consumption (use depends on model). Featured brands include Storz & Bickel, PAX, Herbalizer, Firefly, KandyPens, and Magic Flight.
Vitality Biopharma, Inc. (OTCQB : VBIO), a corporation dedicated to the development of cannabinoid prodrug pharmaceuticals, and to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders, recently announced and welcomed the appointments of Dr. Douglas A. Drossman and Dr. Mark Gerich as clinical advisors with expertise in gastroenterology and treatment of digestive disorders. Douglas A. Drossman, M.D., is a founder and now President of the Rome Foundation, an independent nonprofit research organization dedicated to improving the lives of people with functional GI disorders. Dr. Drossman is an Emeritus Professor of Medicine and Psychiatry at the University of North Carolina (UNC) School of Medicine. He is a recognized expert in the diagnosis and treatment of narcotic bowel syndrome, a severe form of opiate-induced abdominal pain, having authored seminal publications describing this condition.
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