Search
MMJ will use the funds raised to accelerate its entry into the Australian market, now that legislation has passed for the legalisation of cannabis for medical purposes in the country.

Medical marijuana firm raises funds

Medical marijuana company MMJ Phytotech has tapped investors for a $5 million capital raising to fund its entry into the Australian market.

MMJ raised the funds through the placement of 20.8 million shares at 24 cents each, representing a 20 per cent discount to its 20-day volume weighted average price, along with attaching options.

The funds were raised by institutional investors of MMJ’s corporate adviser, Merchant Group Corporate Finance.

Login

(existing subscribers)

The password field is case sensitive.
Request new password

Register for free

Sign up here for free access to 7 articles per month + twice daily business email alerts.

CAPTCHA
Thanks! This question prevents spammers...
Image CAPTCHA
Enter the characters shown in the image.

Add your comment

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 28/02/17

1 year TSR5 year TSR
2ndTikForce4200%-50%
616thMMJ Phytotech-15%0%
632ndTransaction Solutions International-18%5%
694 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

11/10/16
$23k Bought
08/07/16
$0 Bought
08/07/16
$0 Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

142nd↑MMJ Phytotech$1.1m
154th-Transaction Solutions International$76k
155th-Sun Biomedical$68k
158th↓Oakajee Corporation$45k
159th-TikForce$38k
221 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from MMJ Phytotech

502ndAndreas Gedeon$316k
730thJason Bednar$219k
908thWinton Willesee$106k
Ranked by total remuneration from all listed WA companies

BNiQ Disclaimer