Harvest One Increases Equity Financing to C$25M Following Strong Investor Support for Acquisition of United Greeneries / Satipharm
MMJ PhytoTech Limited (Funds received from the placement will be used to finalise the acquisition of the MMJ's core cannabis subsidiaries United Greeneries Holdings Ltd ("UG") and Satipharm AG ("Satipharm") respectively. Post transaction, MMJ shareholders will have an approximately 60% ownership in Harvest One - a fully-financed company with two cannabis brands operating in one of the fastest growing cannabis markets globally.
Closing of the placement is expected to occur by mid-February 2017, subject to the satisfaction of customary closing conditions.
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
Related Companies
Related Industry Topics: