Rapidly growing US weed player Marapharm (MDM.C) has been taking full advantage of the several million in cash they’ve brought in from warrants of late, building out a 360k sq ft grow facility in Las Vegas, and this week announcing that they’re taking a position in Vancouver cannabis research outfit, Veritas Pharma (VRT.C).

News of the purchase has come with precious little side info explaining the rationale for the purchase, so I called on a contact who has a stake in both camps, who told me, “With the things in the US playing out as they are, Marapharm felt like they’re going down a path that shares synergies with what Veritas is doing, so there were discussions and they decided not just to do business, but to get more involved.

Marapharm will now have a seat on the board of Veritas after a $1.1 million share purchase at current market pricing.

MDM President Linda Sampson will be joining the VRT board.

Sampson said of the deal:

“I am impressed with the medical research being conducted by Veritas and its associates. I look forward to working the Cannevert group of scientists to help monetize their intellectual property which is currently being developed. I strongly feel that there are several synergies between Veritas and Marapharm which should result in a win-win for the shareholders of each.”

The purchase was a real shot in the arm for Veritas, which will put the cash to good use and enjoy having a much longer runway during which they’re regularly trialing a variety of marijuana strains as a treatment for nausea, vomiting, epilepsy, and PTSD.

Part of that investment will go to complete the remaining $750,000 of financing required to acquire 80% of the stock in Cannevert Therapeutics.

— Chris Parry

FULL DISCLOSURE: Veritas Pharma is a former Equity.Guru marketing client. Marapharm is a current Equity.Guru marketing client.

Written By:

Chris Parry

A multi-Webster Award winner for excellence in BC journalism, Parry is the founder and publisher of Equity.Guru, which he built with the specific plan to blend old school reporting with stock promotion, in a way that puts the emphasis on truth, high standards, and ethics. Parry is a veteran of TV, radio, and print, and consults with public companies to help them figure out their storylines, lay down achievable milestones, and improve their communication with shareholders, while also posting regular deep dive analysis of companies in the public spotlight.

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Marapharm Ventures
Medical marijuana
Veritas Pharma
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