Ann: MMJ to Acquire Strategic Position in Dosecann Inc, page-3

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30/01/18

11:30

Post #: 30657454
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Originally posted by Howareyagoin ↑

MMJ to Acquire Strategic Position in Canadian Specialty Pharma and Healthcare Company Dosecann Inc.

MMJ to invest C$2.5 million in Dosecann by way of convertible debentures at an attractive pre-money valuation of C$11.5 million

Dosecann is a consumer healthcare company focused on developing a suite of cannabis-based health and wellness products for supply to key markets globally

Dosecann planning construction of a 45,000ft2 GMP pharmaceutical level production facility in Canada – aiming to secure Licensed Dealer status by May 2018

Dosecann investment to leverage existing synergies within MMJ portfolio

Following investment in Dosecann, MMJ will maintain a robust cash position of
A$3.98 million.
MMJ PhytoTech Limited (ASX: MMJ) (“MMJ” or “the Company”) is pleased to advise that it has entered into an agreement to acquire a strategic stake in private, Canadian-based healthcare company Dosecann Inc. (“Dosecann”), via the proposed placement of C$2.5 million in secured convertible debenture units (“Debentures”).
Strategically, the investment in Dosecann will further solidify MMJ’s position in the Canadian cannabis sector, leveraging a number of existing operational synergies within MMJ’s current investment portfolio.
The Canadian cannabis market is one of the most highly regulated and favourable operating jurisdictions globally, with established Licensed Producers (“LP”) set to derive significant commercial benefit from the legalisation of the recreational cannabis market scheduled for July 2018.

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This is massive news for MMJ but they are not in the same league as the likes of CAN, CPH, AC8, EXL and THC all these are relatively newly listed stock with low SH based can't explain that....???
share price wise all these stock have trade above $1 at one stage but MMJ 50c ????
Cheap cheap cheap ????
MMJ Price at posting: 54.0¢ Sentiment: Buy Disclosure: Held
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