MMJ Group Holdings Ltd (ASX:MMJ) has today presented updates for two companies in its investment portfolio, unlisted Sequoya Cannabis Limited and WeedMD Inc (CVE:WMD).
Sequoya’s Polish subsidiary, Sequoya Europe, has received EU GMP certification for its newly completed European centre of extraction and cannabidiol (CBD) production.
This is an important first step to becoming a significant GMP-certified hemp CBD supplier, with longer-term plans to expand into the legal medical marijuana market across Europe.
Sequoya’s recently completed cannabis extraction operations are located in Krakow, Poland, with plans to become a leading supplier of CBD extracts and isolate within the European Union.
MMJ holds a CAD$2.5 million convertible note, 24% shareholding, and rights to make further future investments in Sequoya.