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MMJ PhytoTech eyes new opportunities in the Australian medicinal cannabis sector

The federal government is planning to allow the export of medicinal cannabis products from Australia.
MMJ PhytoTech eyes new opportunities in the Australian medicinal cannabis sector
The company is selling cannabidiol capsules globally

MMJ PhytoTech Ltd (ASX:MMJ) is actively assessing a number of Australian-based strategic investment opportunities in the medicinal cannabis sector, aimed at leveraging the company’s cannabis expertise.

The company’s shares are trading circa 9% higher intra-day at $0.58 after the health minister Greg Hunt outlined the government’s plan to allow the export of medicinal cannabis products from Australia.

MMJ through its 59%-ownership in Harvest One Cannabis Inc (CVE:HVST), has already commenced the supply of its Satipharm CBD (cannabidiol) capsules to approved patients in Australia.

Currently selling cannabidiol capsules globally

Satipharm CBD capsules are manufactured by Satipharm AG (wholly-owned by Harvest One) and are currently sold throughout key regulated cannabis markets globally.

Importantly, MMJ is now assessing a number of Australian-based investment opportunities in the medicinal cannabis sector, aimed at leveraging its global distribution networks and cannabis cultivation expertise.

The company is expected to provide further details on these potential strategic investment opportunities in the near-term.

READ: MMJ PhytoTech’s subsidiary achieves steady progress in the European cannabis market

Satipharm’s distribution network has rapidly expanded in 2017 with a focus on the largest European consumer markets: Germany, Denmark, UK, Ireland, Netherlands, Spain and Austria.

In these countries, Satipharm’s CBD Gelpell capsules are now available in several online shops, on Amazon, mail order pharmacies and in conventional brick and mortar pharmacies.

View full MMJ profile View Profile

MMJ PhytoTech Timeline

Newswire
December 11 2017
Newswire
November 10 2017

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