Postponement of General Meeting
Perth, Sep 28, 2018 AEST (ABN Newswire) - MMJ PhytoTech Limited (
ASX:MMJ) (MMJJF:OTCMKTS) (MMJ) advises that, in accordance with MMJ's constitution, the General Meeting of Shareholders scheduled for 2pm (AEST) today (the Meeting) has been postponed until 2pm AEST on Friday, 5 October 2018.
As announced on 25 June 2018, MMJ entered into a binding share sale agreement pursuant to which it has conditionally agreed to sell its wholly-owned subsidiary PhytoTech Therapeutics Ltd (PTL) to Harvest One Cannabis Inc. (CVE:HVT) (HVT) for total consideration of CAD$8 million (Disposal).
The Disposal is conditional upon (amongst other things) MMJ and HVT seeking all necessary shareholder and regulatory approvals required to undertake the Disposal. HVT is listed on the Canadian TSX Venture Exchange (TSXV) and requires approval from the TSXV to allow the Disposal to complete.
HVT has advised MMJ that the TSXV are in the final stages of considering providing its unconditional approval of the Disposal and accordingly MMJ believes it is appropriate to postpone the MMJ shareholder meeting until the approval is granted. MMJ reasonably anticipates that the approval will be granted next week. Accordingly, the details of the postponed Meeting are as follows, unless otherwise determined by the Board:
---------------------------------------------------------Date Friday, 5 October 2018---------------------------------------------------------Time 2pm (AEST)---------------------------------------------------------Venue The Westin Sydney 1 Martin Place Sydney NSW 2000 Australia ---------------------------------------------------------
Proxy forms previously sent to shareholders may continue to be used for the postponed Meeting and proxies already cast in relation to the Meeting remain valid unless withdrawn prior to the postponed Meeting date. As a result of the postponement of the Meeting, proxy forms (if not already submitted), must be received by 2pm AEST on 3 October 2018.
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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