Business
MMJ Group Holdings Ltd (MMJJF) Portfolio Update
Perth, Australia (ABN Newswire) - MMJ Group Holdings Limited (ASX:MMJ) (OTCMKTS:MMJJF) ("MMJ"...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"MMJ Group Holdings Ltd (MMJJF) Portfolio Update\nPerth, Australia (ABN Newswire) - MMJ Group Holdings Limited (ASX:MMJ) (OTCMKTS:MMJJF) (\"MMJ\") provides an update on recent events in the MMJ investment portfolio. 1. Portfolio valuation MMJ's unaudited post-tax Net Tangible Asset (NTA) per share was approximately 34 cents per share as at 5 March 2019 which represents a 36% premium to MMJ's current share price of 25 cents(see Note below). MMJ's portfolio summary is included in Appendix One(see link below). We continue to see a positive outlook for MMJ's investment portfolio with continued recovery in the price of Harvest One Cannabis Inc. (HVT), the rollout of HVT's business strategy and further business development announcements across MMJ's portfolio in the coming months. MMJ has a cash balance of $4m and more than 70% of the portfolio currently held in listed investments. As announced on 22 February 2019, the Board does not consider an equity raising to be in the best interests of shareholders. However, should the situation improve in the near term, MMJ will be retaining the flexibility to proceed with a Share Purchase Plan (SPP) offering following approval of the SPP by MMJ shareholders on 22 February 2019. In light of the above, MMJ is assessing the timing of the implementation to allow the SPP and other capital raising options to be implemented when the NTA is better reflected in MMJ's share price. 2. Harvest One Cannabis Inc. a) Acquisition of Delivra Harvest One Cannabis Inc. (CVE:HVT) (OTCMKTS:HRVOF) (\"HVT\") and Delivra Corp. (CVE:DVA) (\"Delivra\") announced today that they have entered into a definitive arrangement agreement pursuant to which HVT will acquire all of the issued and outstanding common shares of Delivra. Under the terms of the transaction, shareholders of Delivra will receive 0.595 common shares of HVT for each Delivra share. The acquisition of Delivra and its LivRelief(TM) brand, which produces a variety of topicals and creams with existing distribution channels across Canada, will position HVT well when cannabis-infused products are legalised in Canada, which is expected in the late 2019. The acquisition of Delivra by HVT puts further emphasis on the HVT goal of being a leading house of brands in the global health, wellness, and self-care sector. The announcement released by HVT is attached (see link...