By MMJ Group Holdings Ltd on Friday, 27 March 2020
Category: Investment Company

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

viewMMJ Group Holdings Ltd

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:

8 cents; and 80% of the volume weighted average market price (VWAP) for shares calculated over the 5 days on which sales in shares are recorded prior to the day on which shares under the SPP are issued.

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.

The company is well capitalised with the flexibility to make follow-on investments in its current portfolio companies and to manage the timing of exits for some existing investments.

ASX:MMJ

Market: ASX
Market Cap: $17.95 m
Follow

View company profile

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

Most read

MMJ Group focuses on strategic vision to be leading cannabis investment company

MMJ Group Holdings Ltd (ASX: MMJ) non-executive director Mike Curtis updates Proactive Investors about its strategic partnership with MMJ operating company Embark Ventures (EBV). The two companies have combined to create the highest quality investments, earnings and share price return for...

on 07/17/2019

2 min read

Related Posts