1. Net Tangible Asset Backing
MMJ announces that its unaudited NTA per share as at 18 April 2019 was 40 cents (post-tax1) compared to 39 cents as at 31 March 2019.
2. MMJ Investment Portfolio Report
MMJ has attached its investment portfolio report as at 18 April 2019 which provides commentary on MMJ's financial performance and its investee portfolio since 31 March 2019.
Since 31 March 2019 MMJ has taken advantage of the further substantial share price growth of MediPharm LABS Inc. (LABS) by selling down part of its investment in LABS to provide liquidity for future investments.
MMJ retains a substantial investment in LABS with 2m warrants with book value of AUD9m. To date MMJ has generated MOIC multiple of 6 times which has exceeded MMJ's target of 2-3x multiple on invested capital in 1-2-year time horizon.
MMJ has a cash and share sale receivables balance of $23m and $61m of its investment portfolio in listed investees. It is expected that this will increase given the stated intention.
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/
ContactInvestor and Media Enquiries:
Chief Financial Officer and Company Secretary
Link: MMJ Portfolio Update
MMJ Group Holdings Ltd (ASX:MMJ) MediPharm Labs (CVE:LABS) Ships over CAD$10m of Cannabis Oil in December 2018