MMJ PhytoTech Limited (
MMJ has entered into a binding Term Sheet with Canadian-based Harvest One Capital Corp. ("Harvest One") (
Under the terms of the agreement, Harvest One will undertake an equity financing to raise up to C$15,000,000 through the issue of shares at C$0.75 each. Post spin out, MMJ shareholders will have an indirect ownership in a fully-financed cannabis company ("New Entity") with two core brands operating in one of the fastest growing cannabis markets globally.
Mackie Research's extensive network of institutional and retail investors, along with the highly experienced principals behind Harvest One, will play a key role in the successful execution of the Transaction.
MMJ will provide its shareholders with additional updates on the progress of the TSX-V transaction in due course.
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/
Contact
Investor and Media Enquiries:Jason Conroy
Chief Executive Officer
T: +61-2-8098-0819
E: info@mmjgh.com.au
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