MMJ was a grower now a LIC. As an LIC it holds several investments which we all see on a monthly basis now. Looking at other Cannabis producers and EFTs and LICs gives us some thing to compare to our investment in MMJ as a LIC
In a article "Meet Canada's Marijuana moguls" I thought a quote by Brendan Kennedy of Tilray "He says Canada has a distinct advantage in the international market. But over time, other countries will step up production — and at a lower cost in more temperate regions. He says the future of Canadian producers lies in technology and genetics, rather than growing for export. "
My thoughts have always been while Canada has had a head start in laws, so many other countries have a significant advantage in growing agricultural products over Canada.
News: 1-Cronos and Aurora- CRONOS GROUP INC. EXITS INVESTMENT IN WHISTLER MEDICAL MARIJUANA CORPORATIONMarch 4, 2019Cronos Group Inc., confirmed today that it has sold all of its common shares in the capital of Whistler Medical Marijuana Corporation, representing approximately 19 percent of Whistler’s issued and outstanding common shares, to Aurora Cannabis Inc. for a total purchase price of approximately C$175 million, payable by the issuance of common shares in the capital of Aurora, and subject to certain working capital adjustments and holdbacks.)
2-CRONOS GROUP INC. SHAREHOLDERS APPROVE C$2.4 BILLION STRATEGIC INVESTMENT FROM ALTRIA GROUP, INC.
What is clear from above that MMJ investment is a minow with just $52.93M AUD market cap compared to the four left standing in the list above. The huge amount of consolidation should make " Duncan and Lucky Lake facilities are on track as HVT targets an annual runrate of 20,000 kg premium indoor grown flower by the end of calendar 2019." a target I guess. Even as a minnow, with billions still being invested MMJ could be on a hot potato.
MMJ Price at posting:
25.0¢ Sentiment: Hold Disclosure: Held
