MMJ PhytoTech Ltd (ASX:MMJ) Core Cannabis Brands to List on TSX-V via RTO
Perth, Sep 28, 2016 AEST (ABN Newswire) (MMJ PhytoTech Ltd (ASX:MMJ) (“MMJ” or “the Company”) is pleased to advise that it is set to unlock significant value for shareholders through the spin out of its core cannabis subsidiaries, United Greeneries Holdings Ltd (“UG” or “United Greeneries”) and Satipharm AG (“Satipharm”), on the TSX-V.
– Strategic spin out of Canadian subsidiary United Greeneries and Swiss subsidiary Satipharm by way of a reverse takeover of the TSX-V listed entity Top Strike Resources (TSX-V; TSR)
– TSX-V listing of core cannabis subsidiaries will provide MMJ shareholders with exposure to rapidly expanding Canadian cannabis market
– Top Strike to pay C$2.5M in cash and C$37.5M in shares to MMJ
– MMJ management to be responsible for operations of the resulting TSX-V listed company
– Direct market comparisons to