Global cannabis investment company, MMJ Group Holdings (ASX:MMJ) have announced that one of their investments, MediPharm Labs, has changed management.
MMJ owns 4.3 per cent of MediPharm Labs.
Medilabs have appointed co-founder, Keith Strachan to president with founder, Pat McCutcheon continuing in his role as CEO and Chairman.
This follows predictions that the medicinal cannabis industry is set to boom in Australia with the Therapeutic Goods Administration approving an increasing number of drugs under the Special Access Scheme.
Shares in MMJ Group Holdings (ASX:MMJ) are trading 2.13 per cent higher to $0.24.