MMJ has expanded the mandate of its investment manager, Parallax Ventures, to include additional investments made under a new amended diversification agreement. the deal will broaden its existing investment mandate to include strategic investments in sectors outside cannabis as approved at the company’s annual general meeting held in November 2020. These sectors include, but are not limited to natural resources, pharmaceuticals, and software services technology, which will comprise no more than 25% of MMJ’s total consolidated assets at the time the investments are made. Increased flexibility to create growth The diversification provides MMJ with increased flexibility to create growth and greater returns for shareholders and thereby allows MMJ to lower its investment risk and reduce the impact of market volatility from the cannabis sector to ultimately benefit shareholders.
Mmp News Author, Medical Marijuana Program Connection, 01/18/2021 05:12:00