The net proceeds raised under the SPP will be primarily applied towards investment in existing and new cannabis and hemp businesses, operating expenses and other working capital purposes.
Board of Directors appreciates the support of its Shareholders during a period of challenging investment markets. MMJ is well capitalised with the flexibility to make follow-on investments in our current portfolio companies and to manage the timing of exits for some of our existing investments.
In accordance with the SPP Terms and Conditions, the Issue Price per SPP Share will be the higher of:
(“Revised SPP Price”). As such the Issue Price will be advised on 2 April 2020.
MMJ confirms that all valid SPP Applications were accepted in full. The SPP Shares will be issued on 2 April 2020 and statements issued to successful applicants. Refunds for invalid SPP Applications will be made as soon as practicable after the Issue Date.