Satipharm Completes Wholesale Transaction
Perth, Nov 19, 2015 AEST (ABN Newswire) - MMJ PhytoTech Limited (
ASX:MMJ) (the "Company") Management and Board are pleased to announce it has received its first wholesale order for its 10mg and 100mg Satipharm CBD Gelpell(R) Gastro-resistant Microgel Capsules ("CBD Capsules" or "Capsules").
Satipharm Completes EUR150,000 Wholesale Transaction With Leading UK-Based Supplement Distributor
First Announced Transaction from Growing wholesale pipeline - Initial Step in Execution of MMJ Wholesale Distribution Strategy
- First wholesale order for Satipharm CBD Gelpell(R) Gastro-resistant Microgel Capsules received from Prima Sport, a leading UK Supplement Distributor
- Order represents the successful execution of the Company's wholesale strategy to target a wider market share
- Product to be available on a dedicated Satipharm product page on Prima Sport's MegaBody website: http://megabody.co.uk/satipharm
- Partnership opens up further opportunities with Prima Sport and other distributors to wholesale further products and access a significant health and nutrition market
Satipharm CBD Capsules to be sold through leading supplement website
Prima Sport, a leading UK Supplement Distributor, has ordered a total of EUR150,000 (AU$225,000) of the product from Satipharm. This supply is expected to be sold within the first half of 2016 through Prima Sport's UK based website www.megabody.co.uk and MMJ is in continued discussion in relation to further orders as well as a pipeline of European and Canadian online and physical stores.
The product will be added to Prima Sport's leading product suite of supplements, which currently includes products targeted at energy, weight loss, endurance and more.
The capsules will be available for online purchase with a credit card payment and will retail for GBP62.50 (AU$135) and GBP406.75 (AU$872) respectively. MMJ Management expects the first products will be available on the MegaBody.co.uk website for consumers before the end of 2015 as the order has been filled by Satipharm and dispatched to Prima Sport. Satipharm has a dedicated product page within the MegaBody website - http://megabody.co.uk/satipharm
Execution of Wholesale Distribution Strategy
The order represents the successful execution of MMJ's Wholesale Distribution Strategy (Wholesale Strategy). The Company intends to continue to focus on its retail strategy through sales on it's own dedicated website www.satipharm.com, whilst simultaneously seeking further wholesale agreements in order to increase its ability to capture a wider market share.
MMJ Managing Director - Andreas Gedeon commented:
"This is a positive step for MMJ and demonstrates the successful execution of our Wholesale Strategy. This partnership with Prima Sport, a leading supplement distributor, provides MMJ with access to a larger market within the United Kingdom and has the potential to raise further awareness of our CBD capsules. This agreement also opens up further opportunities with Prima Sport and other distributors to wholesale further products and accelerate our wholesale strategy."
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-MMJ-742911.pdf
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/
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