MMJ PhytoTech Ltd (ASX:MMJ) Update on the PTL Disposal

MMJ PhytoTech Limited (ASX:MMJ) (OTCMKTS:MMJJF) (MMJ) is pleased to confirm that the General Meeting of Shareholders scheduled for 2pm (AEST) today (the Meeting) will proceed as planned.

As announced on 25 June 2018, MMJ entered into a binding share sale agreement pursuant to which it has conditionally agreed to sell its wholly-owned subsidiary PhytoTech Therapeutics Ltd (PTL) to Harvest One Cannabis Inc. (CVE:HVT) (HVT) for total consideration of CAD$8 million (Disposal). The Disposal is conditional upon (amongst other things) MMJ and HVT seeking all necessary shareholder and regulatory approvals required to undertake the Disposal. HVT is listed on the TSX Venture Exchange (TSXV) and requires approval from the TSXV to allow the Disposal to complete. HVT has confirmed that this unconditional approval has now been provided by the TSXV.


About MMJ Group Holdings Ltd

MMJ Group Holdings Ltd (ASX:MMJ) is a global cannabis investment company. MMJ owns a portfolio of minority investments and aims to invest across the full range of emerging cannabis-related sectors including healthcare, technology, infrastructure, logistics, processing, cultivation, equipment and retail. For MMJ's latest investor presentation and news, please visit: http://www.mmjphytotech.com.au/investors/

   

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