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MMJ Phytotech Ltd share price climbs on Canadian update

MMJ’s 60%-owned TSX-V listed Harvest One Cannabis Inc. confirms renewal of its ACMPR Cultivation License until 2020

The MMJ Phytotech Ltd (ASX: MMJ) share price has put its recent declines behind it with a solid gain today, climbing more than 6%.

This morning the company provided an update on its Harvest One operations.

Harvest One is a Canada-based medicinal cannabis company which MMJ Phytotech holds a 60% interest in.

According to today’s release, Harvest One, through a wholly-owned subsidiary, has received a renewal of its Access to Cannabis for Medical Purposes Regulations cultivation license.

Furthermore, it has submitted an application to Health Canada to amend its license to allow for the sale and distribution of medical cannabis.

Managing Director of MMJ PhytoTech Andreas Gedeon, commented: “I am delighted to report that our operational activities are unfolding according to our business plan and that our strategic efforts to build a leading international cannabis company are coming together”

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