MMJ Phytotech Commits A$500,000 Cornerstone Investment in eSense-Lab

MMJ PhytoTech Limited (ASX: MMJ) (“MMJ” or “the Company”) is pleased to advise that it has agreed to invest A$500,000 in ASX listed Israeli life sciences company eSense-Lab Limited (“eSense” or “ESE”) (ASX: ESE).

MMJ will be issued 2,500,000 ordinary shares in eSense at the price of A$0.20 per share, and will receive 1 free option for every 2 shares issued at a $0.30 exercise price and expiry date of 3 years from date of issue (subject to shareholder approval).

In parallel with MMJ’s cornerstone investment, ESE is undertaking a Share Placement (“the Placement”) to raise up to A$1,619,719 via the issuance of new fully paid ordinary shares to sophisticated investors at an issue price of A$0.25 per share.

Upon completion of the Placement, MMJ will have an approximate 3.51% shareholding in ESE.

In addition, MMJ’s 59%-owned subsidiary Harvest One Cannabis Inc. (“Harvest One”) (TSXV: HVST) will enter into a collaboration agreement with ESE, with Harvest One providing technical expertise and its access to global networks.

As previously advised (see ASX release dated 10 October 2017), MMJ has expanded its strategic direction to provide its shareholders exposure to a range of global opportunities spanning the entire cannabis value chain in favourable jurisdictions including Australia, North America, South America, Europe and Africa.

MMJ has also announced a proposed change of company name to MMJ Capital Limited – which remains subject to shareholder approval at AGM to be held on 29th November 2017.


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