PALM BEACH, Florida, November 29, 2016 /PRNewswire/ --
As the legal marijuana industry continues to see high levels of competition within the marketplace, Cannabis operators in the
sector are executing strategies by developing innovative services and products as well as acquiring resources and other assets to
leverage the substance's momentum behind increased legalization after the recent election season. Active in the cannabis
sector this week include: Marapharm Ventures Inc. (OTC: MRPHF), General Cannabis Corp. (OTC: CANN), GrowBlox Sciences, Inc.
(OTC: GBLX), Surna Inc. (OTC: SRNA) and Medical Marijuana, Inc. (OTC: MJNA).
Marapharm Ventures Inc. (OTCQB: MRPHF) (CSE: MDM.CN) announces the purchase of the remaining 25% equity interest in
EcoNevada, LLC, ("EcoNevada"), a private company based in Las Vegas, Nevada, such that Marapharm
now owns 100% of the issued and outstanding shares of EcoNevada. EcoNevada has provisional marijuana licenses and special use
permits over 204,000 square feet of cultivation and 16,000 square feet of production. Read this full Press Releases and
recent news for Marapharm at http://marketnewsupdates.com/news/mrphf.html
"We have now completed the deal which was made a year ago, when we purchased control of EcoNevada. The price for the minority
position of 25% was 100,000 shares of Marapharm, as agreed to in the original transaction, to suit the needs of the sellers for
tax and other reasons. Since recreational use of marijuana has been legalized in the state of Nevada, EcoNevada has increased in value to Marapharm, both as an asset and as a main vehicle to drive
revenue in Nevada." said Linda Sampson, CEO of Marapharm.
"We just bought the adjoining 1.1 acres to the 5.9 acres we acquired, in order to accommodate parking requirements from the
City of North Las Vegas to allow for the three licenses to be consolidated on one property,"
added Linda Sampson. In addition, further to its November 23,
2016, news release, Marapharm reports it is in advanced discussions with several large casinos in Las Vegas for the placement of automated cannabis machines (ACMs) in casinos. It is proposed that the ACMs
will stock and only sell Marapharm products from its 380,000-square-foot facility located in Las
Vegas. There is no guarantee that such discussions will result in any agreements or be fruitful or beneficial to
Marapharm.
Marijuana/Cannabis sector performances of note yesterday include:
General Cannabis Corp. (OTCQB: CANN) closed up over 10% at $3.43 by the market close on
Monday. General Cannabis provides services to the regulated cannabis industry in the United
States. The company engages in the acquisition and leasing of cultivation space and related facilities to licensed
marijuana growers and dispensary owners.
GrowBlox Sciences, Inc. (OTCQB: GBLX) closed up over 2% at $0.35 on Monday trading over
750,000 shares by the market close. Growblox Sciences, through its subsidiaries, focuses on the research and development of
medical cannabis drugs and treatments. The company produces measurable medical-grade cannabis, cannabis concentrates, and
cannabinoid therapies through using various technologies in plant biology, cultivation, and extraction techniques.
Surna Inc. (OTCQB: SRNA) closed up over 12% at $0.16 on Monday trading over 1.1 Million
shares traded by the market close. Surna is a technology company that engineers equipment for controlled environment
agriculture (CEA) with special expertise in cannabis cultivation.
Medical Marijuana, Inc. (OTC: MJNA) closed up over 3% on Monday closing at $0.1177
trading over 26.3 Million shares by the market close. Medical Marijuana announced yesterday that its subsidiary HempMeds®
Mexico, the first and only company with approval from COFEPRIS to legally import a cannabis
product into Mexico, has begun distributing Real Scientific Hemp Oil™ (RSHO™) to Colombia.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which
disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any
company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a
registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any
security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or
hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or
interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and
consult a licensed financial professional before considering any level of investing in stocks. All material included herein
is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is
not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a
portion of their investment when investing in stocks. For current services performed MNU has been compensated four thousand
nine hundred dollars for news coverage of the current press release issued by Marapharm Ventures
Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future
expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned",
"will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are
subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially
from those projected in the forward-looking statements, including the risks that actual results may differ materially from those
projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual
report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should
consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such
statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to
update such statements.
Contact Information:
Media Contact email: info@marketnewsupdates.com
, +1-561-325-8757
SOURCE MarketNewsUpdates.com