MMJ PhytoTech invests into global cannabis lifestyle brand

Shares in the company last traded at 31 cents

MMJ PhytoTech Ltd (ASX:MMJ) has invested C$0.7 million for a 12.7% shareholding in Bien Ventures Ltd, a private Canadian intellectual property, branding and licensing company.

MMJ is a global cannabis investment company with a diversified portfolio of cannabis sector investments.

Bien is MMJ’s seventh investment.

Powders that can be added to food or drink

Bien is focused on exploiting the intellectual property (IP) for its formulation and brand of soluble, odourless and flavourless micro-dosed CBD and THC powders.

THC and CBD are abbreviations for different compounds that are found in cannabis.

Bien’s powders can be added to any beverage or food by a consumer.

Initially targeting California market

Bien is preparing to license its IP and brand to manufacturers and distributors.

Final testing of Bien’s formulation is underway.

On completion of the product testing, the initial market for the launch of the Bien-branded products will be California.

Bien aims to expand by building its own manufacturing, distribution and marketing business, subject to obtaining appropriate licenses, in Canada from mid-2019 once cannabis edibles are legalised.

Follows recent investment in Martha Jane Medical

The Bien investment follow’s yesterday’s investment of A$0.6 million for a 12.6% shareholding in Martha Jane Medical Limited.

Martha Jane Medical holds an Australian medical cannabis licence for research purposes and
is progressing applications for other classes of Australian cannabis licences.

It aims to design and construct a world-class growing, extract and manufacturing facility and export high-value cannabis-based products and medicines globally.

By: Proactive Investors