MMJ Group Holdings Limited (ASX:MMJ) ("MMJ"), an Australian-listed company that specialises in managing a portfolio of investments along the cannabis value-chain, attaches the following releases by one of MMJ’s largest investees, WeedMD Inc. (TSX-V:WMD (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), in relation to its operations:
a) appointment of new Chief Executive Officer - Appendix One;
b) the completion of WeedMD capital raising - Appendix Two;
c) a presentation on the operations of WeedMD
MMJ’s investment in WeedMD consists of:
a) CAD6m in 8.5% unsecured convertible debenture units issued by WeedMD which may be converted into 3.75m shares by September 2022.
b) The right to make further investments in WeedMD through warrants that allow MMJ to acquire an additional 3.75m shares for CAD1.80 each for a period of 3 years.
The book value of MMJ’s investment is approximately AUD5.7m.
WeedMD Inc. is a federally-licensed producer of cannabis products for both the medical and adult-use
markets in Canada.
For more information, please refer to the attached PDF
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