KELOWNA, BC, Feb. 14, 2018 /PRNewswire/ – Marapharm Ventures Inc., (“Marapharm” or the “Company”) is very pleased to announce that it has closed on the acquisition of an operational dispensary, Green Leaf Wellness in Desert Hot Springs, California, as previously stated in news releases on November 27th, December 20th, 2017 and in the Company’s corporate update on January 1st, 2018.
Green Leaf Wellness “GLW” is an established dispensary with a successful medical cannabis history. It has provided valuable support to local patients and veterans in the community and has been successful in developing long lasting relationships in the community with innovative communication, marketing and social media.
The dispensary is within 4 miles of Marapharm’s two cultivation facilities which are currently in the planning and development stage. The location is off of the I-10, a major freeway between Phoenix and Los Angeles with a traffic count of approximately a quarter million cars a day.
Current management will be staying on to support a positive and seamless transition for staff and patrons. Marapharm looks forward to launching a new website, multi social media presence, and “uplifting” the store to better serve both medical and recreational visitors, with the highest quality cannabis products, excellent standards and product knowledge.
“California’s cannabis market is expected to soar to $5.1 billion — and it’s going to be bigger than beer.” http://www.businessinsider.com/california-legalizing-weed-on-january-1-market-size-revenue-2017-12
Desert Hot Springs located in the Coachella Valley, has a population of approximately 800,000. The valley welcomes 3.5 million tourists a year and is home to the famous annual Coachella Music Festival. A large percentage of residents are 60+, which is the fastest growing cannabis demographic in the US.
“The dispensary is the first subsidiary of Marapharm to provide a steady revenue stream for the company and we look forward to a positive