MMJ Group’s MediPharm Labs Added To HMMJ

  • Dec 31, 2018 AEDT
  • Team Kalkine
MMJ Group’s MediPharm Labs Added To HMMJ

MMJ’s partially held cannabis extractor MediPharm Labs has been included in the Horizons Marijuana Life Sciences Index ETF, listed on the Toronto Stock Exchange (TSX: HMMJ).

Canadian medical cannabis oil production facility MediPharm Labs today announced that it had achieved a significant milestone in the company’s evolution as a leading purified cannabis extraction with the addition of MediPharm to the HMMJ.

The Horizons Marijuana Life Sciences Index ETF reflects performance similar to the Marijuana Index of North America. This index is reportedly designed to represent a performance exposure of the publicly listed North American life sciences companies, especially the ones operating in the Marijuana business.  

The investment portfolio of global cannabis investment company MMJ Group comprises of $27.9 million invested in Canadian conglomerate Harvest one and $5.1 million in Toronto listed cannabis oil production company MediPharm labs, among others. MMJ owns approximately 4.5% shareholding with 4.4 million shares and 2.9 million warrants in MediPharm Labs.

As of July 2018, MMJ’s shareholding was diluted to approximately 30.2% of Harvest One’s total outstanding shares. Harvest One reported revenue of $1.68 million for the Q1 2019, reflecting the improvement of 862% compared to the Q1 2018. This massive growth in top line outlines the bulk sales of cannabis to Licensed Producer, Province of British Columbia and contribution of Dream Water sales.  As of September 2018, Harvest One maintained a cash balance of $48.3 million that allows for expansion of company’s acquisition and production developments plans.

During the first quarter of 2019, Harvest One acquired 19.99% in Burb Cannabis Corp, a luxury retail group based in British Columbia. Moreover, it has also started construction at British Columbia site and a site in Saskatchewan. In Duncan, BC Harvest’s facility is under the process of expansion which is expected to triple the output as the modules come to live. The first harvest is slated for early 2019.

MMJ Group’s total revenue was negative $9,568,000 for the year ended 30 June 2018. However, other income generated by the group was $29,185,000, up from a negative figure of $729,000 reported in the previous corresponding period. This growth reflects a large portion of other income derived from the gain on deconsolidation of Harvest One Cannabis Inc. The profit for the consolidated entity after providing for income tax and non-controlling interest amounted to $5,144,000 compared to the loss of $12,725,000 for the period ended 30 June 2017.

In today’s trading session, shares of MMJ Group Holdings Limited (ASX: MMJ) traded at higher levels. The stock price jumped up by 2.174% to end the calendar year at $0.235 on 31 December 2018. MMJ’s last traded PE ratio was 1.760 x with a market capitalization of $52.93 million. However, the stock price has plunged by 45.24% over the past 12 months.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK