MMJ PhytoTech Ltd (ASX:MMJ) has signed a binding letter of intent (LOI) with a leading pharmaceutical distributor and retailer to expand into Europe.
The medicinal cannabis producer signed the binding letter of intent with for its Satipharm products to be marked and distributed throughout Scandinavia.
At the same time, the company announced its flagship cannabidiol product, Gelpell-CBD Microgel Capsules, can also now be purchased over the counter throughout pharmacies in Germany.
MMJ PhytoTech Ltd says this is not only a key milestone for the company, but serves as a significant value catalyst for shareholders.
MMJ PhytoTech Ltd (ASX:MMJ) reported a consolidated loss of $4.5 million for the half-year to 31 December 2016.