Marpharm's wholly-owned subsidiary Marapharm Las Vegas LLC, in advance of the planned 380,000 sq. ft. main cultivation facility, will commence construction of two 5,000 sq. ft. medical marijuana complexes on the 5.9 acres it owns in the Apex Industrial Park, located north of Las Vegas, Nevada. This facility will provide interim product to local dispensaries. The buildings are ordered and will be erected in approximately six to eight weeks. The facilities will be used for hiring, training and cultivation during the construction of the main facility.
Cultivation from each of the initial buildings will produce an estimated US$3,500,000 in revenue and a net profit of US$2,300,000 per building. The product from the initial facilities has already been contracted by agreement to a dispensary in Las Vegas, Nevada. Further, the entire cultivation of the 300,000 sq. ft. of canopy development is contracted to several dispensaries located in Las Vegas, Nevada.
Situated along Interstate 15, Apex is just 25 minutes from McCarran International airport and within five hours from the Port of Los Angeles. Apex has the potential to become one of the predominant industrial developments in the western United States. Access to major North American cities is readily available via Highway 93 and the Union Pacific Railroad. The park offers access to municipal groundwater, high pressure gas and an abundance of power supplied by the five power generation stations within the park’s boundaries.
Medical marijuana was legalized in the state of Nevada on November 7, 2000. In 2013, the Nevada legislature allowed for safe, regulated access to cannabis. At the end of 2014, there were only 8,000 registered medical marijuana users and by the end of 2015 it is anticipated that the number will have grown to 50,000. Aside from these users, Nevada law allows any non-resident who carries a valid medical marijuana card in their home state to present their card in Nevada and purchase their marijuana while visiting. Reported average medical use is between one and two ounces (28-56 grams) per month. It is anticipated that retail prices will be from US$10-$30 per gram.
Recreational marijuana is on the ballot in Nevada for the 2016 election and polls already show 54% in favour of legalization.
5,000' draft drawing concepts
Road work is under way
80,000' draft drawing concepts
draft drawing of finished facility
Marapharm property in Apex Industrial Park
Marapharm - delivery of the building