MMJ Phytotech now a Canadian medical marijuana supplier

Company News

by David Chau

MMJ PhytoTech Limited (ASX:MMJ) says it is the first Australian company to receive a licence to cultivate medical marijuana in Canada.

The company says its facility Duncan, British Columbia, has 10,000 square-feet of area in which to cultivate its cannabis.

MMJ spent $8 million CAD to build this facility, which includes a “Level 8 Narcotics Vault” and an in-house biochemical lab.

The company says that the new licence positions MMJ not only as a supplier to existing Canadian patients, but also potentially the future “regulated recreational market”.

MMJ reported a net loss of $3.5 million at 31 December 2015.

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