MediPharm Labs Corporate Update
Specifically, MMJ notes that:
- MediPharm Labs is currently operating with a processing capacity of 100,000 kilograms of dry cannabis flower and/or trim per year, giving them one of the largest extraction capacities in Canada; and
- Fully funded expansion is underway to increase customised processing capacity to an expected 250,000 kilograms of dry cannabis per year by Q2 2019.
MMJ has CAD$5 million of equity invested in MediPharm Labs with 5.88 million shares (CAD$0.85 cost per share) and 2.94 million warrants (exercisable at CAD$1.20 per share by October 2020).
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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