31 August 2019 Net Tangible Asset Backing
Public Company Holdings
Fire & Flower (FAF)
Fire & Flower has entered into purchase agreements with wholly owned subsidiaries of Cannabis Cowboy to acquire eight cannabis retail stores under development in the province of Alberta for C$5.6mln. Fire and Flower has also closed the C$26mln strategic investment previously announced with Couche-tard.
Harvest One (HVT)
Harvest One appoints Aaron Wong as Chief Financial Officer and Andy Bayfield as Chief Commercial Officer. Mr. Wong is a CPA with over 15 years of finance experience in public and private organizations including Seaspan Corporation, Teekay Corporation and CHC Helicopter. Mr. Bayfield's career has been focused on consumer-packaged goods with companies such as Cadbury, Coca-Cola, and Canada Dry Mott's, a division of Keurig Dr Pepper.
Harvest One Phase II Clinical Trials on Satipharm CBD GelPell Published in Peer-Reviewed Medical Journal. The announced results were significantly positive.
- Phase 2 open label clinical trial is aimed at measuring safety and efficacy of Satipharm CBD capsules for reducing seizure frequency in children with refractory or treatment-resistant epilepsy
- The median reduction of monthly seizures was -82% in the 12-week treatment period in treatment-resistant children when added to current medications
Medipharm Labs (LABS)
MediPharm reported a second quarter with consensus-beating revenues of $31.5M, adj. EBITDA of $7.7M and pre-tax net income of $4.1M. The results currently place MediPharm behind just Aurora and Canopy in terms of Canadian cannabis revenues.
BevCanna Signs Letter of Intent for 130 Acre Outdoor Cannabis Cultivation. Joint Venture with Clearwater CannGrow to grow certified organic sun-grown cannabis on an aggregate 130 acre plot of land on BevCanna's property near Osoyoos, B.C. Pursuant to the letter of intent, the parties have agreed to use best efforts to enter into a definitive agreement in respect of the proposed business relationship within 14 days.
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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/
MMJ Group Holdings Ltd