A number of key milestones have been achieved during FY2017 at PTL, and the Board is delighted with the progress of the ongoing Phase 2 clinical trials, and we expect further positive results from these R&D efforts to be delivered to shareholders in the near-term.
It is important that our shareholders remember that these Phase 2 clinical activities currently underway in Israel have the potential to pave the way for the commercial development of PTL's medicinal cannabis products, which would undoubtedly be a significant value catalyst for the business.
Looking ahead, the Board remains very enthusiastic about the near-term prospects available to both MMJ and Harvest One respectively, with both companies maintaining robust cash positions and highly experienced management teams with the requisite experience and market knowledge to unlock considerable shareholder value over the coming 12 months.
MMJ is entering a very exciting period in its maturation as a global cannabis business, with a majority shareholding in Harvest One, strategically complemented by the flexibility to pursue additional opportunities in the cannabis sector providing a very solid foundation for near-term growth.
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About MMJ PhytoTech Ltd
MMJ PhytoTech Limited (ASX:MMJ) is focused on becoming a large-scale cannabis producer, targeting direct supply to the growing Canadian medical and recreational markets which will have an estimated combined value of C$8-9 billion by 2024.
The Company controls operations across the entire medicinal cannabis value chain through its ~59% interest in TSX-V listed Harvest One Cannabis Inc (CVE:HVST) and its 100% interest in Israeli research and development subsidiary, PhytoTech Therapeutics Ltd, both of which are strategically located in favourable jurisdictions with supportive regulatory frameworks in place.
MMJ PhytoTech Ltd