logo-loader
viewMMJ Group Holdings Ltd

MMJ Group directors support cannabis strategy through placement participation

MMJ owns a portfolio of minority investments and aims to invest across the full range of emerging cannabis-related sectors.

MMJ Group Holdings Ltd - MMJ Group directors support cannabis strategy through placement participation
Chairman Peter Wall acquired 37,500 shares

MMJ Group Holdings Ltd (ASX:MMJ) directors have supported the company’s share purchase plan to fund existing and new cannabis and hemp businesses and operating expenses.

Chairman Peter Wall acquired 37,500 shares at 8 cents per share and directors Winton Willesee and Doug Halley acquired 100,000 and 62,500 shares respectively.

MMJ owns a portfolio of minority investments and aims to invest across the full range of emerging cannabis-related sectors including healthcare, technology, infrastructure, logistics, processing, cultivation, equipment and retail.

WeedMD

The company’s investment WeedMD Inc (CVE:WMD) recently expanded its multi-channelled distribution strategy following the acquisition of Starseed Medicinal Inc.

Starseed’s exclusive partnership with LiUNA, the largest construction union in Canada, complements WeedMD’s direct sales to medical patients.

The company maintains strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold.

WeedMD chief executive officer Angelo Tsebelis recently said the company was on the path to profitability by sustaining and operating a lean business model across its cultivation sites, capturing higher-margin products rooted in low-cost cultivation platforms and securing nearly C$10 million in selling, general and administrative expenses reduction run rate by the end of 2020.

Quick facts: MMJ Group Holdings Ltd

Price: 0.099 AUD

ASX:MMJ
Market: ASX
Market Cap: $22.77 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of MMJ Group Holdings Ltd named herein, including the promotion by the Company of MMJ Group Holdings Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: MMJ Group sees strong future for cannabis sector amid global...

MMJ Group (ASX: MMJ) Non-Executive Director Michael Curtis joined Steve Darling from Proactive Vancouver to discuss his thoughts on the cannabis industry and how that sector is doing during the Corona outbreak. Cannabis stores were deemed an essential service. Curtis also talked about how...

on 14/5/20

2 min read