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Marapharm to sell cannabis license, assets to Standard Graphite

Marapharm Ventures Inc. unit Marapharm Inc. plans to sell its Canadian medical cannabis license to Standard Graphite Corp.

Standard Graphite will issue C$5.3 million worth of its shares for the license, plus other Marapharm assets, including 7 acres of property in Nevada and facilities in Washington and California.

Standard Graphite will issue a further C$2.5 million worth of shares if the deal is approved by Health Canada.

Marapharm also has 15 million shares and warrants of Veritas Pharma Inc.