In the attached release Embark Health Inc. (“Embark” or the “Company”) and Volero Brands Inc. (“Volero”) announced that they have entered into a definitive agreement (the “Co-Production Agreement”) to develop, produce, and distribute Volero’s Flyte cannabis 2.0 products for the Canadian market.
MMJ has minority holdings in both Embark and Volero (refer below).
MMJ’s investments in Embark Health and Volero demonstrate some of the benefits provided to MMJ shareholders from its investments in early stage unlisted investments in the medicinal and adult use cannabis sector with the prospect of realising potential gains on listing the public markets.
Further detail on the operations of Embark Health and Volero may be found on the MMJ website www.mmjgh.com.au/portfolio/.
MMJ was a foundation investor in Embark Health in July 2018 – the investment now comprises:
MMJ was a foundation investor in 2019 – the investment now comprises:
Read the full ASX Release here.
1 A Liquidity event is an initial public offering or a material sale event
2 Exercise price has based on MMJ book value of CAD2.40 per share
3 The return comprises all cash income, sale proceeds, accrued income and fair value of investment at date of calculation