MMJ: Expands into Europe

Company News

by Jessica Amir

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.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.