Australia  

Trusted News Discovery Since 2008
One News Page
One News Page Australia > Business News > MMJ Group investment Embark Health outlines steps to create Canada's largest cannabis and CBD business

MMJ Group investment Embark Health outlines steps to create Canada's largest cannabis and CBD business

Proactive Investors Thursday, 13 February 2020 ()
MMJ Group Holdings Ltd’s (ASX:MMJ) Canadian investment Embark Health has highlighted two important steps it is taking in a bid to create the largest cannabis and CBD business in Canada. The first step includes Embark Health having received its processing licence from Health Canada for its Delta, British Columbia, facility, which marked a positive step and brought Embark a step closer to full-scale production at that facility. The company, which also has a facility in and Ontario, is now working closely with Delta, BC authorities to receive building and occupancy approval for both phases of the first floor. Canadian 2020 public listing Secondly, Embark Health has advised its shareholders that the company is seeking to publicly list in Canada during 2020. MMJ was a founding investor in Embark Health in July 2018 and owns about 12% of the company with an investment book value of A$13.9 million consisting of 3.4 million shares and 3.3 million warrants. Its investment in Embark Health demonstrates MMJ’s capacity to originate early-stage unlisted investments in the cannabis sector with the prospect of realising potential gains on listing the public markets. Harvest one strategic review Another Canadian investment of MMJ, Harvest One Cannabis Inc (CVE:HVT), is undertaking a strategic review of the business. Harvest One specialises in managing a portfolio of investments in the cannabis value-chain and MMJ is its largest shareholder, with a 26% stake. MMJ non-executive chairman Peter Wall said: “We believe Harvest One is significantly undervalued given its substantial cultivation and Cannabis 2.0 assets. “We are committed to working closely with Harvest One to realise that intrinsic value.” MMJ holds two investments in HVT: A 26% stake in the company, which is one of the largest investments within the MMJ cannabis and hemp portfolio; and C$2 million secured loan, bearing interest at a rate of 15% per annum. MMJ has first ranking security interest in all current and after-acquired property of HVT and its subsidiaries, subject to certain permitted liens. MMJ is holding discussions with Harvest One on the potential extension date of the C$2 million secured loan repayment, which is currently repayable on March 10, 2020. Harvest One develops and provides innovative lifestyle and wellness products to consumers and patients in regulated markets around the world.
0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

Brit racked 5m steps travelling across Mexico to Canada on foot [Video]Brit racked 5m steps travelling across Mexico to Canada on foot

A brave Brit has racked up five MILLION steps travelling across the entire length of America from Mexico to Canada -- on foot. Mary Mansfield, 40, suffered with crippling headaches for 15 years - but..

Credit: SWNS STUDIO     Duration: 01:07Published

Health Headlines - 2-19-19 [Video]Health Headlines - 2-19-19

In today's health headlines we talk about how people on a quarantined cruise ship after a two week quarantine have started to leave the ship. A study shows that a big breakfast helps you to burn even..

Credit: FOX 47 News Michigan     Duration: 02:03Published


Recent related news from verified sources

Emerald Clinics lists on the ASX, plans to expand clinics across Australia and the UK

Emerald Clinics Limited (ASX:EMD) listed on the Australian Securities Exchange (ASX) today after raising $6 million in its initial public offering (IPO). The...
Proactive Investors

MMJ Group launches $5 million raising to take advantage of opportunities

MMJ Group Holdings Ltd (ASX:MMJ) has this morning revealed a share purchase plan (SPP) to raise up to $5 million through the issue of shares priced at 11 cents....
Proactive Investors


Tweets about this

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2020 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.