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KELOWNA, BC, Oct .17, 2018 /CNW/ – Marapharm Ventures Inc. (CSE: MDM) (OTCQX: MRPHF) (FSE: 2M0) (“Marapharm” or the “Company”) is pleased to announce to its shareholders that it has received a temporary Certificate of Occupancy from the City of North Las Vegas.
Today, the Company received the temporary Certificate of Occupancy from the City of North Las Vegas evidencing the completion of all local permitting. This milestone now allows for the State of Nevada to perform its final inspection and approval so that cultivation and production can commence in the new facilities.
During construction delays, Management took extraordinary measures to ensure the un-interruption of the perpetual harvest schedule from propagation and vegetation in the temporary buildings. Plants will be transitioned to the new facilities to complete their cycle and our first harvest.
The completion of the first two state-of the-art, multimillion-dollar facilities will allow for up to 10,000 square feet of organic cannabis cultivation and processing while the Company continues to expand its footprint for a total build-out of up to 300,000 square feet.
This is a significant achievement for Marapharm, Las Vegas represents a key strategic market for us and we look forward to rolling out our products and expanding our footprint as quickly as possible
The Nevada Tax Department reported $7.9 million in marijuana tax revenue in July was 11 percent higher than Fiscal Year 2018’s three best months — March, May and June of 2018 — all at about $7.1 million.
It was a 92 percent gain from the inaugural month of sales in July 2017, $4.1 million.
“It has been a complex process to bring these facilities into operational status, to say that we are thrilled today is an understatement.” Linda Sampson, President and CEO