Quarterly Update and Appendix 4C
Harvest One Cannabis Inc. (MMJ 59%):
- United Greeneries prepares importation of Satipharm capsules into Canada
- United Greeneries receives ACMPR sales and distribution amendment from Health Canada to sell dried marijuana to registered patients
- Satipharm obtains Free Sale Certificate from German regulators facilitating sale of CBD capsules in additional European jurisdictions
- Satipharm strengthens its distribution footprint across Europe
- Final regulatory approval granted for the distribution of prescription Satipharm CBD capsules into Australia
- MMJ announces plans to expand its market position through further strategic investments within the global cannabis sector
- Managing Director delivers presentation to prestigious European biotech conference
- Haywood Securities and Banyantree issue research reports
- Strong consolidated Group cash position at 30 September 2017 of approximately $21.5 million (Parent only: approximately $8.6 million)
MMJ Strategy Expansion
Post quarter end, MMJ advised it would be expanding its market position through further strategic investments within the global cannabis sector, with plans including a proposed name change to "MMJ Capital Limited".
Following the successful listing of United Greeneries Holdings Ltd ("United Greeneries") and Satipharm AG ("Satipharm") on the TSX-V through ("Harvest One") (CVE:HVST), the Board of MMJ identified a number of independent strategic investment opportunities that have the potential to deliver significant value to the Company's shareholders.
The new strategy will leverage MMJ's robust cash position enabling the Company to act quickly and decisively when new investment opportunities arise. MMJ will target exposure to a range of global opportunities spanning the entire cannabis value chain in favourable jurisdictions.
MMJ will retain its 59% equity stake in Harvest One and 100% ownership of Israeli-based research and development company PhytoTech Therapeutics Limited ("PTL"). The Company also intends to recruit one or more industry or investment banking professionals to sit on a soon-to-be formed Investment Committee.
Harvest One Cannabis Inc. (CVE:HVST)
TSX-V-listed Harvest One continued to deliver solid operational progress during the September quarter, with significant developments achieved across its key operating divisions United Greeneries and Satipharm respectively.
United Greeneries Operational Update
United Greeneries is a Canadian Licensed Producer ("LP") focused on large-scale horticultural operations through its owned and operated Duncan growing facility.
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About MMJ PhytoTech Ltd
In October 2017, MMJ PhytoTech Limited (ASX:MMJ) announced its strategy to become an incubator for strategic investments across regulated jurisdictions globally covering the entire cannabis value chain.
Following the successful listing of United Greeneries Holdings Ltd ("United Greeneries") and Satipharm AG ("Satipharm") on the TSX-V through Harvest One Cannabis Inc. (CVE:HVST), MMJ has focused on the identification of a number of independent strategic investment opportunities that have the potential to deliver significant value to the Company's shareholders.
MMJ is actively pursuing early stage opportunities with the ability to deliver significant future revenue and the opportunity to provide dramatic global synergistic value as regulatory frameworks in key international markets continue to evolve. MMJ is targeting the full range of emerging cannabis-related sectors including healthcare products, technology, infrastructure, logistics, processing, cultivation, equipment, R&D, hemp food products and retail.
MMJ currently holds an equity stake of 53,333,333 shares in Harvest One, 100% ownership of Israeli-based R&D division PhytoTech Therapeutics Limited ("PTL") and strategic holdings in e-Sense Lab Limited (ASX:ESE) and private Canadian-based company WeedMe Inc.
MMJ PhytoTech Ltd