Weed Me Obtains Cultivation Licence
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 PhytoTech Ltd

Phytotech Medical ASX:PYL

In October 2017, MMJ PhytoTech Limited (ASX:MMJ) announced its strategy to become an incubator for strategic investments across regulated jurisdictions globally covering the entire cannabis value chain.

Following the successful listing of United Greeneries Holdings Ltd ("United Greeneries") and Satipharm AG ("Satipharm") on the TSX-V through Harvest One Cannabis Inc. (CVE:HVT), MMJ has focused on the identification of a number of independent strategic investment opportunities that have the potential to deliver significant value to the Company's shareholders.

MMJ is actively pursuing early stage opportunities with the ability to deliver significant future revenue and the opportunity to provide dramatic global synergistic value as regulatory frameworks in key international markets continue to evolve. MMJ is targeting the full range of emerging cannabis-related sectors including healthcare products, technology, infrastructure, logistics, processing, cultivation, equipment, R&D, hemp food products and retail.

MMJ currently holds an equity stake of 53,333,333 shares in Harvest One, 100% ownership of Israeli-based R&D division PhytoTech Therapeutics Limited ("PTL") and strategic holdings in e-Sense Lab Limited (ASX:ESE) and private Canadian-based company WeedMe Inc.

      


Contact

Investor and Media Enquiries:
Jason Conroy
Chief Executive Officer
E: jconroy@mmjphytotech.com.au



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