MMJ Appoints Lead Manager for TSX-V Capital Raising
Perth, Nov 14, 2016 AEST (ABN Newswire) - MMJ PhytoTech Limited (
ASX:MMJ) ("MMJ" or "the Company") is pleased to advise that Canadian-based Mackie Research Capital Corporation ("Mackie Research") has been appointed as lead manager for the equity financing ("Financing") component of the Company's proposed TSX-V listing ("the Transaction").
MMJ has entered into a binding Term Sheet with Canadian-based Harvest One Capital Corp. ("Harvest One") (CVE:WON.H) for the sale to Harvest One of 100% of the issued shares of United Greeneries Holdings Ltd ("UG") and Satipharm AG ("Satipharm") respectively.
Under the terms of the agreement, Harvest One will undertake an equity financing to raise up to C$15,000,000 through the issue of shares at C$0.75 each. Post spin out, MMJ shareholders will have an indirect ownership in a fully-financed cannabis company ("New Entity") with two core brands operating in one of the fastest growing cannabis markets globally.
Mackie Research's extensive network of institutional and retail investors, along with the highly experienced principals behind Harvest One, will play a key role in the successful execution of the Transaction.
MMJ will provide its shareholders with additional updates on the progress of the TSX-V transaction in due course.
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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