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Sep 8, 2016 12:48 EST

Marapharm Closes Oversubscribed Financing for More Than $2.1 Million.

Disclosure NewswireTM

iCrowdNewswire - Sep 8, 2016

 

Kelowna, British Columbia – Marapharm symbols: Canada – CSE:MDM / Germany – FSE:2M0(zero) / United States – OTCQB:MRPHF

 

Marapharm Ventures Inc. (“Marapharm”) announces that the non-brokered private placement unit offering announced in a news release July 18, 2016 for gross proceeds of $1,000,000 has been closed and that it is oversubscribed for total gross proceeds of $2,173,250.00. The number of units subscribed for are 10,866,250 and each unit consists of one common share and one common share warrant for a total issuance of 10,866,250 common shares and 10,866,250 share warrants. The share warrants entitle the holder to acquire one common share at an exercise price of $0.40 cents per share. The warrants may be exercised at any time until one year from the closing of the private placement. Marapharm paid 10% finder’s fees to various finders in connection with the private placement.

 

Marapharm announces that Director options to purchase 850,000 shares at $0.50 cents expire September 14, 2016 and, new Director 2 year options have been issued, 925,000 at $0.40 cents and 300,000 at $1.00.
 

ABOUT MARAPHARM VENTURES INC.

www.marapharm.com

Additional information on the operations or financial results of Marapharm are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (www.thecse.com) the OTC website (www.otcmarkets.com) and Sedar website (www.sedar.com) under the profile for Marapharm Ventures Inc.

FOR FURTHER INFORMATION:

 

www.marapharm.com

 

STOCK EXCHANGES:

 

Neither the CSE, the FSE nor the OTCQB® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQB® accepts responsibility for the adequacy or accuracy of this release.

FORWARD – LOOKING STATEMENTS:

Certain statements contained in this news release constitute forward looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, ‘may”, “will”, “project”, “should”, ‘believe”, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.

 

 

 

Contact Information:

[email protected]

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