Investment in VitaGenne
Perth, Nov 8, 2018 AEST (ABN Newswire) - MMJ Group Holdings Limited (
ASX:MMJ) ("MMJ") is pleased to announce that it has made a cornerstone equity investment of USD$1 million for an 18.2% shareholding in privately-held VitaGenne Inc ("VitaGenne").
VitaGenne is a hemp-derived cannabidiol (CBD) product company focused on providing health and wellness goods in the United States. Its mission is to be the leading supplier of branded hemp-derived CBD wellness products, nutraceuticals and dietary supplements. VitaGenne's current range of products include sublingual CBD tinctures, ingestible CBD gel capsules formulated for multiple uses, topical CBD pain creams and topical CBD repairing creams.
MMJ's CEO Jason Conroy commented that "We are delighted to be the cornerstone investor in VitaGenne. The investment is our first in both hemp-derived CBD products and the United States market where we see significant opportunities for future growth."
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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