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MMJ Group investment gains R&D licence in Canada and starts sales in Argentina

Harvest One Cannabis Inc has received permission from Health Canada to import Satipharm’s CBD Gelpell® capsules into Canada.

MMJ Group Holdings Ltd - MMJ Group investment gains R&D licence in Canada and starts sales in Argentina
Sales of the capsules for medical purposes have started in Argentina

MMJ Group Holdings Ltd (ASX:MMJ) investment Harvest One Cannabis Inc’s (CVE: HVT) subsidiary Satipharm Ltd has received an R&D licence for its products in Canada and has started sales into Argentina.

Harvest One’s licensed producer United Greeneries Ltd has received permission from Health Canada to import Satipharm’s CBD Gelpell® capsules into Canada for research and development purposes.

This allows Harvest One to begin compliance testing and analysis for the Canadian market in anticipation of full-scale production in Canada in 2020.

Initial shipment received

Satipharm’s CBD Gelpell® capsules are also now available in Argentina for medical purposes and the initial shipment has been received by the first patient.

In March 2017, the Argentine Congress approved a new medical cannabis law which authorises the import of cannabis products for sufferers of refractory epilepsy for patients with a doctor’s prescription.

Satipharm has signed an agreement with FederalMed to manage the importation and distribution of CBD Gelpell® capsules to patients.

“Key part” of strategy

Harvest One’s CEO Grant Froese said, “At Harvest One, we view the Satipharm CBD Gelpell® capsule as a key part of our health, wellness, and self-care strategy and are very excited to be taking the next step in bringing them to the Canadian market.

“With this import permit, Harvest One can continue the necessary preparations to bring this unique, effective product to Canada.

“We are equally excited to have our first shipment of Satipharm’s CBD Gelpell® capsules to Argentina, which marks Harvest One’s first entry into South America.

“This adds to our existing distribution which includes 2,000 stores in the UK and Ireland, on-line sales across the EU and prescription sales in Australia.”

Unique CBD capsules

Satipharm produces a CBD capsule using the proprietary Gelpell® process and these capsules take a different approach to other cannabinoid pills on the market in Canada and internationally.

Gelpell® capsules contain full-spectrum hemp extract CBD in seamless gelatine beads.

These microbeads, contained in a hard gastro-resistant capsule, release the CBD in the small intestine and maximise the delivery of CBD to the body.

Manufactured in Switzerland, and GMP certified, every Gelpell® capsule delivers a consistent dose of cannabinoids.

NTA at October 31

MMJ Group, which has a diversified portfolio of cannabis sector investments, has released its net tangible assets (NTA) per share as at October 31, 2019, pursuant to ASX Listing Rule 4.12.

NTA per share as at that date was A30.52 cents pre-tax and A28.53 cents post-tax.

The year to date performance of MMJ’s NTA.

The company seeks investments across the full range of emerging cannabis-related sectors including healthcare, technology, infrastructure, logistics, processing, cultivation, equipment, and retail.

One of MMJ’s key aims is for the share price to trade at a premium to Net Asset Value given the potential returns from portfolio companies which include investments in private cannabis and hemp businesses which are on a short path to public listing or sale of the business.

MMJ’s investment portfolio as at 31 October 2019.

Seeking NASDAQ listing

Another MMJ Group investment MediPharm Labs Corp (TSX:LABS), a leader in specialised, research-driven cannabis extraction, distillation and purification, has filed an application to list its common shares on the NASDAQ Stock Market.

MediPharm Labs CEO Pat McCutcheon said, “We are thrilled to be entering the next phase of growth at MediPharm Labs including cross-listing on the NASDAQ, one of the world’s foremost exchanges for emerging markets and technology, such as the burgeoning cannabis sector.

“Listing alongside our peers on the NASDAQ will enhance our visibility and access to a larger base of institutional and retail shareholders in the US and globally.”

Volero Brands in JV

Volero Brands Inc, which is another MMJ investment, has entered into a definitive agreement with Beleave Inc (CNSX:BE) to form a joint venture to develop, produce and distribute cannabis extracts, topicals and edibles for the Canadian market.

Volero CEO Sean Trustham said, “We’re excited to partner with Beleave and bring an entirely new product category to the Canadian market.

“Our team knows that the best results are delivered when great people come together to collaborate with a common vision. This is exactly the environment we have right now with the team at Beleave.”

Quick facts: MMJ Group Holdings Ltd

Price: 0.155 AUD

ASX:MMJ
Market: ASX
Market Cap: $35.67 m
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