MMJ PhytoTech Ltd. acquired a 12.6% equity stake in Martha Jane Medical Ltd. through a A$600,000 investment.
Australia-based Martha Jane Medical is a privately held medical cannabis company that owns a medical cannabis license for research purposes.
MMJ Phytotech CEO Jason Conroy said the transaction is the company's first Australian medical cannabis investment.
Sydney-based MMJ Phytotech is a medical cannabis company engaged in the cultivation and distribution of cannabis locally and internationally.
