Update on the PTL Disposal
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 PhytoTech Ltd
MMJ PhytoTech Limited (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 PhytoTech Ltd
Harvest One Cannabis Inc