The WeedMD release provides an update on the Company’s product development, selling and administration overhead reduction program and highlights the benefits of the completing the investment by LiUNA Pension Fund of Central and Eastern Canada (“LPF”) as its largest shareholder. The LPF investment strengthened WeedMD’s balance sheet to further support the Company’s growth plans at a time when liquidity and capital constraints have put the cannabis market under pressure.
MMJ’s investment in WeedMD consists of:
The book value1 of MMJ’s investment is approximately AUD5.2m.
WeedMD Inc. is a federally-licensed producer of cannabis products for both the medical and adult-use markets in Canada.
The a presentation of WeedMD’s operations and recent capital raising may also be found on the MMJ website WeedMD presentation February 2020.
1 Based on TSXV market price for notes and warrantsBack to News