Cannabis and Hemp Industry Investment News

Cannabis Industry Press Releases and News Articles from the best investment journalist in the industry. Stay updated on all cannabis investment news from every online source, on MjInvest.com

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.

Chairman Peter Wall acquired 37,500 shares

() 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 () recently expanded its multi-channelled distribution strategy following the acquisition of Starseed Medicinal Inc.

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MMJ Group Holdings' SPP raises $389,400 to support new cannabis businesses

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The board of directors appreciated the support of its shareholders during a period of challenging investment markets.

The SPP shares will be issued on April 2

() has raised $389,400 in its share purchase plan (SPP) to support existing and new cannabis and hemp businesses, operating expenses and other working capital purposes.

The SPP offer booklet was issued on February 19 with the company receiving eligible subscriptions of $389,400 from 158 shareholders.

In accordance with the SPP terms and conditions, the issue price per SPP share will be the higher of:

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Australis Capital building asset base in the ever-growing US cannabis sector

Focused on building companies through early-stage, opportunistic, and diversified investments in cannabis spaceSpun off from Aurora in late 2018Aims to establish a foothold in the US before US federal legalization shifts

 () (OTCMKTS:AUSAF) aims to build companies through early-stage, opportunistic, and diversified investments in the cannabis value chain in the US and abroad.

Australis was spun out from cannabis behemoth Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) in September 2018 as its US investment vehicle. Despite boasting a C$9.2 billion market cap, Aurora is not allowed to invest in US cannabis assets due to Toronto Stock Exchange and NYSE listing rules. Australis is therefore Aurora’s arm to establish a foothold in the US, before a potential US federal legalization shift.

Whereas Aurora is headquartered in Canada and has global assets, Australis’s US headquarters reflect its strategic focus on the burgeoning American marijuana industry.

The Nevada-headquartered firm has ten assets in the cannabis industry, four of which are wholly owned. This includes brands, such as Body & Mind, Mr Natural and Green Therapeutics. In addition to this, the company has invested in cannabis tracking and loyalty app developer rthm and in Wagner Dimas, which holds a number of patents for industrial-scaled pre-roll machines.

The current jewel in its portfolio is Cocoon Technology LLC, which manufactures consumer-facing kiosks as stand-alone units or multi-unit pods for consumers and a mobile application and tablet for employees of cannabis retail locations.

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MMJ Group Holdings investment WeedMD Inc expands distribution strategy with Starseed acquisition

The Starseed acquisition gives WeedMD a built-in partnership with Canada’s largest construction union, the Laborers’ International Union of North America, which boasts over 100,000 members.

WeedMD has 17 cultivation rooms that are all cycling through various stages of production

() investment  () has expanded its multi-channelled distribution strategy following the acquisition of Starseed Medicinal Inc, which it is still in the process of completing. 

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.

Path to profitability 

WeedMD chief executive officer Angelo Tsebelis said the medical cannabis company is focused on executing its commercial plan in 2020.

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MMJ Group reduces offer price and extends closing date of share purchase plan

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The company believes that its share price materially undervalues the opportunities provided by its existing portfolio as the Canadian cannabis market recovers.

MMJ’s investee companies are expected to receive a material valuation uplift during the latter part of 2020

() has reduced the offer price under its current share purchase plan (SPP) to raise $5 million and has also extended the closing date of the SPP.

The company has decided to reduce the offer price to align with recent market conditions and in order to provide eligible shareholders with the ability to participate in the Company’s capital raising activities.

The terms of the SPP have been formally modified as follows:

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MMJ Group raising up to $5 million to fund cannabis investments

The company believes that its share price materially undervalues the opportunities provided by its existing portfolio as the Canadian cannabis market recovers.

MMJ’s investee companies are expected to receive a material valuation uplift during the latter part of 2020

() is raising $5 million from shareholders to fund investments into new businesses in the global cannabis market.

The company’s share purchase plan which closes on March 17, 2020 provides eligible shareholders with the opportunity to purchase up to $30,000 worth of new shares at an issue price of 11 cents per share.

MMJ holds warrants (similar to ‘options’ in Australia) and contractual rights in a number of its existing listed and unlisted investments which provide opportunities for MMJ to make follow-on investments in businesses at a discount to current valuations.

Existing cannabis businesses where MMJ holds the right to make follow on investments include:

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MMJ Group to extend secured loan agreement with Harvest One

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MMJ is Harvest One’s largest shareholder with a 26% stake and this is one of the largest investments within the MMJ cannabis and hemp portfolio.

Harvest One is a global cannabis company that develops and provides innovative lifestyle and wellness products to consumers

() has reached an agreement to extend the maturity date of the secured loan agreement with

On January 10 MMJ advanced a loan bearing interest at a rate of 15% per annum with the principal and accrued interest on the loan payable in arrears within 60 days of the issue date, subject to certain exceptions.

Harvest One granted MMJ a security interest in all current and after-acquired property of HVT and its subsidiaries, subject to certain permitted liens.

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MMJ Group Canadian investment Weed Me completes C$2.5 million capital raising

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Weed Me is a producer of cannabis with indoor growing facilities in Ontario and holds cultivation, processing and sales licences under the Cannabis Act from Health Canada.

MMJ specialises in managing a portfolio of investments along the cannabis value-chain

() Canadian investment, privately-owned Weed Me Inc has completed a C$2.5 million capital raising.

MMJ has been an investor in the licensed cannabis producer since December 2017, which represents one of the largest investments within the MMJ cannabis and hemp portfolio.

“Funding in challenging market conditions”

MMJ chairman Peter Wall said: “We congratulate the management of Weed Me in securing funding in challenging market conditions and believe that it reflects the quality of its business plan and its substantial cultivation assets.”

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MMJ Group investment Harvest One makes progress with strategic review

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

Harvest One is making progress with its initiatives to restructure operations

() Canadian investment Harvest One Cannabis Inc () (OTCMKTS:HRVOF) is progressing its strategic review with financial results for the half-year ending December 31, 2019, indicating progress.

Since November 2019, Harvest One has undertaken several initiatives which are expected to contribute to a 30% reduction in selling, general and administrative (SG&A) expenses on an annualised basis.

These initiatives include:

An overall reduction in workforce by over 20%;A comprehensive salary reduction program at the senior management level;The downsizing and consolidation of corporate offices; andThe implementation of remote workforce programs.

Decreasing operating overheads

These cost reduction efforts have already positively impacted cash SG&A expenses in the December 2019 quarter.

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MMJ Group Holdings' Canadian investment Harvest One selling non-core assets

The sale of the assets by Harvest One is part of a strategic review of the business.

MMJ is Harvest One's largest shareholder holding a 26% stake

’s () Canadian investment Harvest One Cannabis Inc () (OTCMKTS:HRVOF) has entered into definitive agreements to sell its interest in Burb Cannabis Corp, a cannabis retailer in British Columbia.

The agreements also include the sale of HVT’s interest in the 398-acre site in Lillooet, British Columbia, and the total proceeds from both will be C$2.3 million.

This sale of non-core assets follows the announcement earlier this month that HVT was undertaking a strategic review of the business.

MMJ is the largest shareholder of HVT with 26% and it is one of the largest investments within the MMJ cannabis and hemp portfolio.

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Buds & Duds: Marijuana stocks mixed; Australis Capital gains as subsidiary prepares to launch CocoonPod kiosks

THRIVE Cannabis Marketplace, one of Nevada’s largest cannabis retailers, ordered 32 kiosks

The major cannabis indices were all flattish midday Wednesday

Cannabis stocks stayed mostly flat on Wednesday as North American markets began to reverse a two-day plunge at the start of the week.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, lost 0.5% to 92.4 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 0.6% to C$7.91, while the OTCQX Cannabis index slid 0.9% to 367.6 points.

Buds

() (OTCMKTS:AUSAF) shares climbed Wednesday after announcing that its subsidiary Cocoon Technology LLC is closing in on launching its proprietary kiosks with THRIVE Cannabis Marketplace, one of Nevada’s largest cannabis retailers.

THRIVE has ordered 32 CocoonPod kiosks for eight locations, starting with a pilot location in North Las Vegas.

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Australis Capital's Cocoon Technology nears launch of kiosks in one of Nevada's largest cannabis retailers

It completed the final phase of development and testing ahead of the platform’s deployment at THRIVE Cannabis Marketplace

Cocoon’s pods are expected to be ready in-store by April 2020

() (OTCMKTS:AUSAF) said Wednesday that its subsidiary Cocoon Technology LLC is closing in on launching its proprietary kiosks with one of Nevada’s largest cannabis retailers. 

The Las Vegas-based company said that Cocoon had completed the final phase of development and testing ahead of the platform’s deployment at THRIVE Cannabis Marketplace, the state’s largest independent retailer.

Cocoon’s pods are expected to be ready in-store by April 2020.

READ: Australis Capital's Cocoon Technology partners with THRIVE Cannabis Marketplace to install kiosks across Nevada

In early December, Cocoon announced it had entered into an agreement with THRIVE Cannabis Marketplace to install its Platform-as-a-Service systems in the dispensary’s eight existing locations, with more to come over the deal’s four-year term.

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MMJ Group sees opportunity to invest in Canadian cannabis businesses at attractive valuations

The company is aiming to make further investments at currently depressed valuations in Canadian cannabis stocks which could materially add value to the portfolio during the next twelve months.

MMJ is currently raising up to $5 million via a share purchase plan

() made significant new investments in 2019 including in existing investees WeedMe and Embark Health, whilst also adding new investments in Sequoya and Bespoke.

The company owns a portfolio of investments in the cannabis sector and aims to invest across the full range of emerging cannabis-related sectors.

MMJ’s asset manager, Embark Ventures, sources new investments to diversify the company’s cannabis portfolio whilst providing resources to actively manage its existing investments.

The company believes that the current market and industry sentiment surrounding cannabis companies has created opportunities to invest in listed and unlisted Canadian cannabis businesses at attractive valuations and prices.

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Australis Capital reverses course on merger with B2B cannabinoid producer Folium Equity

Australis said it has decided not to go forward with its previously announced merger with cannabinoid producer and distributor

A stock halt was issued when the merger was announced, and trading is expected to resume shortly

() (OTC:AUSAF) has opted not to go forward with its previously announced merger with cannabinoid producer and distributor Folium Equity Holding LLC.

The deal, announced on December 10, would have seen Folium become a wholly owned subsidiary. 

Australis said in a statement Tuesday that it “discovered new relevant information with regard to Folium” and decided to reverse course.

READ: Australis Capital signs Letter of Intent to acquire payments provider Paytron

"AUSA continues to lean heavily on corporate governance and our vision to navigate through an incredibly unpredictable market over the past 12 months," CEO Scott Dowty said in a statement. "With over $38.2 million in cash, liquid assets and other assets that can easily be converted into cash within a short amount of time and $5.2 million annual burn excluding charges from capital projects and one-time occurrence, AUSA has a very strong financial position.”

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Phytotech Medical to update on merger plans

PhytoTech Medical (ASX:PYL) has been granted a trading halt by the ASX pending an update on the company’s merger with MMJ Bioscience Inc, and a capital raising.

In March this year PhytoTech entered into an agreement to acquire 100% of the issued capital of MMJ Bioscience Inc., a Canadian-based multinational vertically integrated medical cannabis company.

Shareholder approval was received on 29 June 2015.

The halt will remain in place until the opening of trade on Tuesday 28th July 2015, or earlier if an announcement is made to the market.

 

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PhytoTech Medical eyes cannabinoid MS clinical studies for oral capsules

Medical cannabis company PhytoTech Medical Limited (ASX:PYL) is advancing towards clinical studies for its unique oral capsules to treat pain and spasticity in multiple sclerosis patients.

The poor water solubility of THC and CBD compounds has always been an issue and this trial will seek to increase the oral bioavailability through use of capsules.

The company has submitted key documents to the Institutional Review Board and National Clinical Trial Committee in Israel to start Phase 1 clinical studies with its tetrahyrocannabidiol (THC) and cannabidiol (CBD) oral capsules.

Submission of Clinical Study Protocol and Investigative Brochure is a key milestone indicating its advanced development stage and readiness to start studies.

The Phase 1 study will be a single-centre, randomised, crossover study to compare the safety, tolerability and pharmacokinetics in healthy volunteers of the two new oral THC and CBD formulations, when administered as single doses.

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Phytotech Medical granted trading halt by ASX

PhytoTech Medical's (ASX:PYL) shares are in pre-open following the ASX granting the company a trading halt.

Phytotech requested the halt pending an update on the company’s proposed merger with MMJ Bioscience Inc.

The halt will remain in place until the opening of trade on Thursday 9th April 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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

MMJ owns a portfolio of listed and unlisted companies along the cannabis value-chain.

Positively, eligible MMJ directors intend to participate in the SPP

() has this morning revealed a share purchase plan (SPP) to raise up to $5 million through the issue of shares priced at 11 cents.

Eligible shareholders on the register as of yesterday (5:00pm AWST Thursday 13 February) will be able to subscribe for up to $30,000 worth of new shares.

The funds raised will be primarily applied towards investment in existing and new cannabis and hemp businesses, operating expenses and general working capital.

Notably, the SPP offer price of 11 cents represents a 51% discount to MMJ’s net tangible asset (NTA) value per share post-tax as at 31 January 2020.

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MMJ Group Holdings makes progress in cannabis investment strategy

The company has accumulated a pool of around 16,000 investors and shareholders funds of about A$90 million.

Investments are sourced across the cannabis value chain from growing to extraction of oils

() (OTCMKTS:MMJJF) is making inroads as it seeks to capitalise on considerable interest in the emerging global cannabis industry through strategic investments.

As such, it is the only ASX-listed investment company offering Australian investors the opportunity to invest in unlisted and listed cannabis-related businesses locally and offshore.

In the last 12 months MMJ has converted from a cannabis operational company into a listed investment company.

READ: MMJ Group focuses on shareholder returns with venture capital approach to global cannabis sector

In this short timeframe it has accumulated a pool of around 16,000 investors and shareholders funds of about A$90 million with most investments being offshore and predominantly in Canada.

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MMJ Group focuses on shareholder returns with venture capital approach to global cannabis sector

MMJ is the only ASX-listed investment company offering Australian investors the opportunity to invest in unlisted and listed cannabis-related businesses locally and offshore.

MMJ has $26 million in cash on hand

() has developed a portfolio of minority investments in the global cannabis industry, posting strong net returns of 44% for the financial year to April 30, as well as 32% for the quarter and 7% for the month.

Aiming to capitalise on the emerging industry through investments in cannabis-related sectors, the company has made 15 primary acquisitions and 8 sales of investments to date.

A strong cash position of $26 million will continue to provide capital for MMJ to exclusively invest in the burgeoning industry.

The company has also taken advantage of recent improvements in Canadian-listed cannabis markets to further boost its cash reserves, cancelling an equity raising announced in February.


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