MMJ PhytoTech Ltd (ASX:MMJ) Update on Shareholding in Harvest One (CVE:HVST)

2018-02-25 10:27:12

(MENAFN- ABN Newswire)

MMJ PhytoTech Limited (ASX:MMJ) notes the attached press release by Harvest One Cannabis Inc. (CVE:HVST) ("Harvest One") confirming that Harvest One intends to mandatorily convert certain of its convertible debentures into common stock on or about 28 March 2018. Post conversion, MMJ's current shareholding of 53,333,333 common shares in Harvest One will be 34.5% (see Note below) of the total outstanding shares.

Note: Subject to future conversions of other convertible instruments and warrants issued by Harvest One

To view the press release, please visit:
http://abnnewswire.net/lnk/3DG8T9TF

In October 2017, () 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:HVST), 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.

Investor Enquiries: Jason Conroy Chief Executive Officer E: Media Enquiries: Sam Burns Six Degrees Investor Relations M: +61-400-164-067

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