Investment in Martha Jane Medical Limited
Investment in Martha Jane Medical Limited
Perth, May 31, 2018 AEST (ABN Newswire) - MMJ PhytoTech Limited (ASX:MMJ) (FRA:2P9) has invested AUD$0.6 million of seed capital for a 12.6% shareholding in privately-held Martha Jane Medical Limited ("Martha Jane Medical").

Martha Jane Medical holds an Australian medical cannabis licence for research purposes and is progressing applications for other classes of Australian cannabis licences.

Investment highlights

- 5-year memorandum of understanding with the University of Tasmania, utilising expertise and processes honed during the commercialisation of the Tasmanian opium poppy industry, to develop proprietary extraction processes for cannabis

- Subject to future funding rounds and licensing, Martha Jane Medical aims to design and construct a world class growing, extract and manufacturing facility and export high value cannabis-based products and medicines globally

CEO Comment

Jason Conroy, CEO of MMJ, said "We are delighted to support Martha Jane Medical, our first Australian medical cannabis investment."


About MMJ PhytoTech Ltd

Phytotech Medical ASX:PYL

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:HVT), 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.

      


Contact

Jason Conroy
Chief Executive Officer
T +61 2 8098 0819
jconroy@mmjphytotech.com.au



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