Perth, Australia, Sep 14, 2018 - (ABN Newswire) - MMJ PhytoTech Limited (ASX:MMJ) (OTCMKTS:MMJJF) ("MMJ") provides an update on its current portfolio metrics as follows: (see link below)
MMJ's portfolio update is published periodically with any material changes.
MMJ's CEO Jason Conroy said that: "The material change from our 31 August investor presentation is a 12% increase in Harvest One's share price.
Accordingly, our unaudited net tangible assets ("NTA") has increased 16% to 32 cents per share. Yesterday's MMJ share price is a 11% discount to this NTA. The catalysts that may reduce or eliminate this discount in the short term include:
- a sustained improvement in Harvest One's share price;
- release of details on Harvest One's national retail strategy in the coming weeks;
- the imminent listing of MediPharm Labs on the TSX Venture Exchange;
- MMJ shareholder approval of the sale of PhytoTech Therapeutics on 28 September;
- legalisation of recreational cannabis in Canada on 17 October; and
- selective divestments from our portfolio to realise returns and provide funds for other investment opportunities."
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About MMJ PhytoTech Ltd:
MMJ PhytoTech Limited (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: http://www.mmjphytotech.com.au/investors/
Contact:
Investor and Media Enquiries:
Jason Conroy
Chief Executive Officer
T: +61-2-8098-0819
E: info@mmjphytotech.com.au
Source:
MMJ PhytoTech Ltd
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