MediPharm Labs Signs $35 Million Private Label Cannabis Oil
Perth, Feb 13, 2019 AEST (ABN Newswire) - MMJ Group Holdings Limited (ASX:MMJ) (2P9:FRA) (MMJJF:OTCMKTS) attaches a copy of a recent news release by MediPharm Labs Inc ("MediPharm Labs") (CVE:LABS) (MLCPF:OTCMKTS) announcing that MediPharm Labs signed a CAD35m private label cannabis oil sale agreement with an option for additional CAD13.5m.
MMJ owns approximately 3.9m shares (at a cost of CAD$0.85 per share) and 2.9m warrants (exercisable at CAD$1.20 per share by October 2020) in MediPharm Labs. The book value of MMJ's investment in Medipharm Labs is AUD15m.
MMJ's post-tax net tangible asset backing per share was approximately 31 cents per share as at 13 February 2019 (AEDT).
To view the MediPharm release, please visit:
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: https://www.mmjphytotech.com.au/investors/
MMJ Group Holdings Ltd
MediPharm Labs Corp.