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12 November 2018
Further investment in Embark
MMJ Group Holdings Limited (ASX: MMJ) ("MMJ") is pleased to announce that it has invested CAD$2.5 million of equity into privately-held Embark Health Inc (“Embark”). This increases MMJ’s total investment in Embark to CAD$2.65 million for a basic shareholding of circa 10%*.
MMJ’s CEO Jason Conroy commented that “We are delighted by the opportunity to make a significant follow-on investment in Embark to support Bruce Dawson-Scully and his experienced management team in developing the quintessential cannabis extraction facility to service Canadian and global medical and recreational markets.”
For further information on Embark, please visit: embarkhealthinc.com
Investor and Media Enquiries
Chief Executive Officer
*MMJ’s shareholding percentage may change subject to the final total raised by Embark in its current funding round.
MMJ Group Holdings Limited (ABN 91 601 236 417) is a global cannabis investment company. MMJ owns a portfolio of minority investments and aims to invest across the full range of emerging cannabis-related sectors including healthcare, technology, infrastructure, logistics, processing, cultivation, equipment and retail. For MMJ’s latest investor presentation and news, please visit: https://www.mmjgh.com.au/investors/
This announcement contains reference to certain intentions, expectations, future plans, strategy and prospects of MMJ. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of MMJ may be influenced by a number of factors, many of which are outside the control of MMJ. No representation or warranty, express or implied, is made by MMJ, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause MMJ’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects. MMJ does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in MMJ. This document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of any “US person” as defined in Regulation S under the US Securities Act of 1993 (“Securities Act”). MMJ’s shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration including an exemption for qualified institutional buyers.