Portfolio Management Update
Perth, Oct 26, 2018 AEST (ABN Newswire) - MMJ PhytoTech Limited (
ASX:MMJ) (MMJJF:OTCMKTS) ("MMJ") confirms that it has divested 5 million of its 53.333 million shares held in Harvest One Cannabis Inc. (CVE:HVT) ("Harvest One") through an on-market sale. The intention to make this divestment was first announced by MMJ on 12 October 2018.
Including the proceeds of this divestment, MMJ's unaudited corporate cash balance is approximately AUD$5.6 million.
MMJ's CEO Jason Conroy commented that "After being fully-invested since the end of July, we can recommence participation in other exciting global cannabis sector investment opportunities."
MMJ now owns 48.333 million(see Note below) shares in Harvest One for an approximate 28% shareholding.
Note: On completion of the sale of PhytoTech Therapeutics, MMJ will be issued 8,160,161 Harvest One shares.
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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