Weed Me Obtains Cultivation Licence
Perth, April 30, 2018 AEST (ABN Newswire) - MMJ PhytoTech Limited (
ASX:MMJ) ("MMJ") is pleased to note the attached media release (see link below) by Weed Me Inc ("Weed Me") confirming that it has obtained a cultivation licence under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") from Health Canada.
This is a significant development milestone and allows Weed Me to move to apply for a sales licence under the ACMPR ahead of the federal legalisation of recreational cannabis expected in Canada later this year.
When the sales licence is obtained, MMJ will take a significant minority ordinary equity stake in Weed Me through its CAD$2m convertible note.
MMJ's CEO Jason Conroy said: "We are pleased that Weed Me is delivering on our investment case as it moves toward the goal of becoming a significant Canadian cannabis market participant."
To view the media release, please visit:
http://abnnewswire.net/lnk/R8QTY8O1
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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