Investment: Harvest One (CVE:HVT)
Business: Cultivation, medical and retail products
Outlook comments: Refer to recent public announcements issued by Harvest One and MMJ, including: (i) construction of the Aldergrove cultivation site to start at the end of next month and which is expected to produce at least 8,000kg/year of cannabis; (ii) to integrate and grow the Dream Water business which has current annual revenue of CAD$6m; (iii) to integrate PhytoTech Therapeutics with Satipharm; and (iv) to use its strong balance sheet (circa CAD$60m of cash, no debt) to continue to grow in a value-accretive manner. Harvest One's management discussion and analysis (MD&A) for FY18 is expected to be available on sedar.com at the end of next month.
Investment: MediPharm Labs
Outlook comments: To build out the capacity of their cannabis oil manufacturing facility. To list on the TSX-V, via an agreed reverse takeover of POCML 4 Inc. (TSXV:POCM), by early September.
Investment: PhytoTech Therapeutics
Outlook comments: Sold by MMJ to Harvest One, subject to MMJ shareholder approval at a meeting expected to be held in September.
Investment: Weed Me
Outlook comments: To build out their cannabis cultivation facility subject to receiving a Sales Licence (application in process) and future funding.
Investment: Cannabis Access
Outlook comments: To open Cannabis Access Clinics in Brisbane, Adelaide and Perth next month. Current clinics are in Sydney and Melbourne. For an example of recent media for the clinics, please visit: http://www.abnnewswire.net/lnk/E4CU1C87
Investment: Fire & Flower
Outlook comments: To open retail cannabis stores subject to obtaining provincial licenses (applications are in process), in Alberta and Saskatchewan in October, corresponding with the legalisation of recreational cannabis in Canada.
Business: Product licensing
Outlook comments: Sales of their licensed cannabis (CBD and THC) powder products are expected to commence in California next month. To submit an ACMPR Licensed Producer application to Health Canada in September in compliance with the expected future requirements for a Standard Processing licence.
Investment: Martha Jane Medical
Outlook comments: To build a cannabis extracts business subject to obtaining a manufacturing licence (application in process) and future funding.
Outlook comments: To build their cannabis beverages manufacturing facility subject to becoming an ACMPR Licensed Producer (application in process) and future funding.
Investment: Embark Health
Business: Product manufacturing
Outlook comments: To build their cannabis product manufacturing facility subject to becoming a Licensed Dealer (application in process) and future funding.
Investment: Corporate cash
Outlook comments: To increase by approximately $1m on completion of the sale of PhytoTech Therapeutics to Harvest One.
MMJ's CEO Jason Conroy said that "After spending the past few weeks in Canada meeting cannabis investment market participants, catching up with our investee companies and inspecting their facilities, I am excited by the outlook for MMJ's portfolio. I expect strong support from private and public funding markets for each of our investments as they execute their growth plans. Now fully-invested after a busy period of capital deployment, MMJ will focus on taking opportunities to realise attractive multiples on its invested capital."
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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/
MMJ Group Holdings Ltd
Harvest One Cannabis Inc