(MENAFN- ABN Newswire)
Strategic alliance with CBi2 Capital Perth, April 20, 2018 AEST (ABN Newswire) - MMJ PhytoTech Limited ( <>
CBi2 provides capital and expertise to high growth, early-stage companies in the global cannabis industry. Please visit cbi2.com for further information.
The Alliance will involve MMJ and CBi2 sharing information (on a voluntary, reasonable endeavours basis) in relation to an investment opportunity where one is unable to capitalise on it in their own right and believes that it may be of interest to the other as a co-investment.
Commenting on the Alliance, MMJ's CEO Jason Conroy said "We are excited by the opportunity to work alongside CBi2 and look forward to discussing potential co-investments with them. CBi2's investment criteria and focus is directly aligned with MMJ's strategic intent to own and build a diversified global cannabis investment portfolio."
CBi2's Chairman, CEO and President Sonny Mottahed said "We are equally excited by the prospect of co-investing with MMJ. The Alliance provides each of us with a broader network from which to access mutually beneficial investment opportunities in both the Northern and Southern hemispheres."
About MMJ PhytoTech Ltd
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.
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