CORAL SPRINGS, 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 companies today include: Marapharm Ventures Inc. (OTC: MRPHF), Terra Tech Corp (OTC: TRTC), Cannabis Sativa, Inc. (OTC: CBDS), PharmaCyte Biotech, Inc. (OTC: PMCB) and INSYS Therapeutics, Inc. (NASDAQ: INSY).
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://financialnewsmedia.com/profiles/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.
TERRA TECH CORP (OTCQX: TRTC) based in Newport Beach , a cannabis-focused agriculture company yesterday announced that Derek Peterson , Chief Executive Officer, will present live at VirtualInvestorConferences.com on December 1, 2016 . View investor presentations 24/7 at http://www.virtualinvestorconferences.com. - View investor presentations 24/7 at http://www.virtualinvestorconferences.com. More - DATE: Thursday, December 1, 2016 - TIME: 12:15 pm ET - LINK: http://tinyurl.com/1201prepr
Cannabis Sativa, Inc. (OTCQB: CBDS) was up slightly on Tuesday at $5.59 by 11:46am EDT. Cannabis Sativa, Inc., through its subsidiaries, develops, manufactures, and sells herbal based skin care products in the United States and internationally.
PharmaCyte Biotech, Inc. (OTCQB: PMCB) was up over 30% at $0.068 on Tuesday trading over 15.9 Million shares by 11:46am EDT. PharmaCyte Biotech, a clinical stage biotechnology company focused on developing targeted treatments for cancer and diabetes using its signature live-cell encapsulation technology, Cell-in-a-Box®, today announced that a Pre-Investigational New Drug (Pre-IND) meeting with the Center for Biologics Evaluation and Research (CBER) of the U.S. Food and Drug Administration (FDA) has been granted by the FDA. During the meeting with representatives from CBER, they will respond to PharmaCyte's previously submitted questions to the FDA as part of a Pre-IND information package related to PharmaCyte's clinical trial in locally advanced, inoperable pancreatic cancer (LAPC)
INSYS Therapeutics, Inc. (NASDAQ: INSY) was up slightly on Tuesday at $12.79 by 11:46am EDT. Insys Therapeutics, Inc., a specialty pharmaceutical company, develops and commercializes supportive care products. The company markets Subsys, a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant cancer patients in the United States.
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