Marapharm's second California property has use permit
http://www.stockwatch.com/News/Item.aspx?bid=Z-C:MDM-2488205
2017-07-20 17:05 ET - News Release
Ms. Linda Sampson reports
MARAPHARM ANNOUNCES PROGRESS IN CALIFORNIA
Marapharm Ventures Inc. owns, without debt, 1.22 acres in Southern California with an approved CUP (conditional use permit) of 29,193 square feet of cultivation and processing of cannabis.
"Marapharm has a second property in California in escrow for $2.5-million, announced May 1, 2017, with a CUP, and there's a contingency for the approval of up to 40,000 square feet of interim facilities. Plus, we have a delivery service, we are contracting management and we are opening an office in California. There are 40 million people in California, more than in all of Canada, so it's a big market. Accordingly, we are very happy that the state is progressive with cannabis rules and regulations.
"Changes in the laws in California are very significant for the industry and in particular for Marapharm. Non-resident ownership, the flexibility of licence types, the ability for vertical integration and an opportunity to get a temporary state licence if you are operational in a local jurisdiction before Dec. 31, 2017, are just some positive points of law within the new legislation," said Linda Sampson, Marapharm chief executive officer. -----------
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