MMJ Group Holdings Ltd to Expand Investment Portfolio Beyond Cannabis Sector

MMJ has broadened the mandate of its investment manager, Parallax Ventures, to include additional investments made under a new amended diversification agreement.

() OTCMKTS: MMJFF) (FRA: 2P9) will expand its existing investment mandate to include strategic investments in sectors other than cannabis, as approved at the company’s annual general meeting in November 2020.

These sectors include, but are not limited to, natural resources, pharmaceuticals and software services technology, which will not represent more than 25% of MMJ’s total consolidated assets at the time the investments are made.

Increased flexibility to create growth

Diversification provides MMJ with increased flexibility to create growth and better returns for shareholders and thus enables MMJ to reduce its investment risk and reduce the impact of market volatility in the cannabis sector to the benefit of investors. shareholders.

This month, MMJ’s investment manager, Embark Ventures Inc, changed its name to Parallax Ventures Inc.

Parallax has been engaged by MMJ in this active role since June 1, 2019. There have been no other changes in the personnel or operations of Parallax.

Under the amended Investment Management Agreement, Parallax continues to be responsible for the identification, transaction and review of possible investment opportunities in the cannabis sector and now in the non-cannabis sector. .

Investment portfolio

MMJ has a minority investment portfolio and was originally created to seek investments across all emerging cannabis-related sectors including healthcare, technology, infrastructure, logistics, processing, cultivation, l ‘equipment and retail.

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