Release of Restricted Securities From Escrow
Perth, Dec 30, 2016 AEST (ABN Newswire) - MMJ PhytoTech Limited (
ASX:MMJ) (the "Company") advises in accordance with Listing Rule 3.10A, that the following securities will be released from escrow on Monday, 23 January 2017:
- 25,000,000 Fully Paid Ordinary Shares;
- 9,000,000 Class C Performance Rights;
- 9,000,000 Class D Performance Rights; and
- 2,500,000 Unlisted Class A Options ($0.20, 8 January 2018)
The above securities represent the final tranche of restricted securities on issue. The escrow period was initiated upon the successful listing and official quotation of the securities of the Company on 22 January 2015 for a period of 24 months.
The Company will apply for the quotation of the 25,000,000 Fully Paid Ordinary Shares within 10 business days after the end of the escrow period as required by Listing Rule 2.8.2.
The Company further notes that due to its enhanced strategic focus on the rapidly growing Canadian medical and recreational cannabis markets, it is unlikely that the performance milestones attaching to the remaining Class C and D Performance Rights on issue will be achieved prior to their expiry dates of 21 January 2018 and 21 January 2019, respectively. The Company therefore expects that these Performance Rights will lapse 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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