MMJ smokes out second Aussie medical marijuana invesment
Health & Biotech
Link copied to
MMJ Phytotech has bought a small shareholding in Australian medical cannabis researcher Martha Jane Medical.
The cannabis investor (ASX:MMJ) bought 12.5 per cent for $600,000.
This is MMJ’s second Australian investment — it’s first was online portal Cannabis Access.
Martha Jane Medical is one of the 10 companies in Australia with a domestic medical cannabis research licence.
Martha Jane was registered as a business in 2016 and says it wants to become a vertically-integrated medical cannabis grower, supplier, and medicine-maker.
They have a five year MoU with the University of Tasmania to use its expertise gained from when the island commercialised its opium poppy industry.
MMJ now has investments in seven companies in Canada, Australia, the US, Israel and Switzerland.
Martha Jane and MMJ have been contacted for comment.
MMJ share lifted 3 per cent on the news to 31c: