Harvest One Cannabis Inc (CVE:HVT) said that shareholder MMJ Group Holdings Ltd, as part of its active portfolio management, will sell up to 5 million of its around 48.3 million shares in the company.
MMJ currently holds around 28% of the group.
"On completion of the share sale, the proceeds are expected to be mostly applied by MMJ to other investment opportunities," said MMJ chief executive Jason Conroy.
MMJ PhytoTech is a global cannabis investment company. 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.