MMJ to appoint Embark Ventures as Asset Manager and cancellation of Share Purchase Plan
1. MMJ to appoint Embark Ventures as Asset Manager
MMJ Group Holdings Limited (ASX:MMJ) ("MMJ") is pleased to advise that MMJ has agreed terms with Embark Ventures (“Embark”) to act as asset manager of MMJ’s cannabis investment portfolio. The appointment will be for an initial term of three years.
Embark Ventures is part of the Embark Group which includes Embark Health Inc, a company in which MMJ holds an investment of $3.8m. One of the principals of Embark is Michael Curtis, who is a non-executive director of MMJ and will hold approximately 20% of Embark Ventures and holds 13.2% of Embark Health issued capital respectively.
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