MMJ PhytoTech’s vision is to become a leading player in the global medical cannabis market, through the development & commercialisation of cannabinoid based therapeutic products and as a grower and supplier of unique strains of cannabis to treat a variety of clinical indications in established, existing and newly regulated markets.
MMJ PhytoTech’s strategy is based on establishing a vertically integrated “Farm to Pharma” business model, building operations across all parts of the supply chain, including growing operations, development of cannabinoids based drug-products, production and commercialisation of medical cannabis products and distribution in regulated markets worldwide.
The Company has two main focuses: Therapeutics and Agro-Medical
The Company is developing cannabinoids based drug-products for a variety of highly potential clinical indications utilising state-of-the-art, proprietary drug delivery technologies and formulations.
The Company is establishing strategic alliances with the aim to acquire sophisticated genetic Good Manufacturing Practice (GMP) strains and plants and to secure near term revenues streams from growing operations, capitalising on the growth of the regulated Canadian and US medical cannabis markets.
MMJ PhytoTech Limited (ASX: MMJ) is focused on becoming a large-scale cannabis producer, targeting direct supply to the growing Canadian medical and recreational markets which will have an estimated combined value of C$8-9 billion by 2024.
The Company controls operations across the entire medicinal cannabis value chain through its ~60% interest in TSX-V listed Harvest One Cannabis Inc (TSXV: HVST) and its 100% interest in Israeli research and development subsidiary, PhytoTech Therapeutics Ltd, both of which are strategically located in favourable jurisdictions with supportive regulatory frameworks in place. MMJ PhytoTech Ltd. recently completed a corporate restructuring creating TSX-V listed Harvest One Cannabis Inc. (TSX-V:HVST) MMJ vended Canadian subsidiary United Greeneries (‘UG’) together with Swiss subsidiary Satipharm ('SAT') for ~60% equity stake in HVST. Harvest One completed an oversubscribed C$25M concurrent equity deal and commenced trading on April 28, 2017.
This restructuring greatly enhanced access to capital and provided MMJ shareholders strategic exposure to the rapidly growing Canadian cannabis markets and robust demand for cannabis-focused equities.
MMJ now has significant ownership in two well-financed, growth-oriented, streamlined cannabis-focused companies:
Harvest One (~60% ownership): TSX-V listed cannabis and cannabis-based products company focused on supplying Canadian and international medical and recreational cannabis markets through two distinct operating brands:
Phytotech Therapeutics (100% ownership): private Israeli pure play biopharmaceutical company focused on developing and commercialising cannabis-based therapeutics. Strategic long-term arrangements with UG and SAT provide secure medical cannabis supply chain, a unique and crucial competitive advantage.
United Greeneries: Canadian Licensed Producer with focus on large scale horticultural operations for the upcoming recreational market.
Satipharm: International medical cannabis brand with focus on oral delivery technologies for strategic entry in emerging medical cannabis markets and the existing medical cannabis market in Canada.
Non-Executive Chairman / Independent
LLB, BComm, MAppFin, FFin
Mr Wall was appointed as Non-Executive Chairman of the Company on 14 August 2014.
Mr Wall is a corporate lawyer and has been a Partner at Steinepreis Paganin (Perth based corporate law firm) since July 2005. Mr Wall graduated from the University of Western Australia in 1998 with a Bachelor of Laws and Bachelor of Commerce (Finance). He has also completed a Masters of Applied Finance and Investment with FINSIA.
Mr Wall has a wide range of experience in all forms of commercial and corporate law, with a particular focus on resources (hard rock and oil/gas), equity capital markets and mergers and acquisitions. He also has significant experience in dealing in cross border transactions.
Managing Director / Non-Independent
Mr Gedeon was appointed as Managing Director of the Company on 27 July 2015.
Mr. Gedeon, a former Officer in the German Navy, holds a degree in Educational Science from the University of Federal Armed Forces Munich. He is an experienced business man with proven expertise in large-scale and HR intensive projects. His previous areas of work include media production, the food industry, horticulture and commercial construction. As the founder of MMJ, Mr. Gedeon currently oversees the global expansion strategy of the MMJ group and is the designated Managing Director of MMJ/PYL post-merger.
Non Executive Director / Independent
BBus., DipEd., PGDipBus., MCom., FFin, CPA, MAICD, ACIS/ACSA
Mr Willesee was appointed as Non-Executive Director of the Company on 21 October 2014.
Mr Willesee is an experienced company director with a broad range of skills and experience in strategy, company development, corporate governance, company public listings, merger and acquisition transactions and corporate finance.
He has considerable experience with ASX listed companies and has been involved with many successful ventures from early stage through to large capital development projects. He holds formal qualifications in economics, finance, accounting, education and governance. He is a Fellow of the Financial Services Institute of Australasia, a Member of the Australian Institute of Company Directors, a Member of CPA Australia and a Chartered Secretary.
Non-Executive Director / Independent
Mr Bednar was appointed as Non-Executive Director of the Company on 27 July 2015.
Mr. Bednar is a Chartered Accountant with more than 18 years of direct professional experience in the financial and regulatory management of companies listed on the Toronto Stock Exchange, TSX Venture Exchange, American Stock Exchange and ASX.
He is currently the CFO and director of Canacol Energy Ltd., a Colombian focused oil and gas exploration and production company with an enterprise value of approximately US$650 million. Mr. Bednar has been the past CFO of several international oil and gas E&P companies, most notably the founding Chief Financial Officer of Pan Orient Energy Corp, a South East Asia exploration company, who during his tenure grew organically to operate 15,000 bbl/d and a market cap of $700 million. He has previously sat on the board of directors of several internationally focused E&P companies, including being the past Chairman of Gallic Energy Ltd.
Mr. Bednar holds a Bachelor of Commerce degree from the University of Saskatchewan.
BCom., GradDipACG, AGIA, ACIS
Miss Dale was appointed as Company Secretary of the Company on 1 February 2015.
Ms Dale has a broad range of experience in company administration and corporate governance having held positions as non-executive director and/or company secretary for a number of ASX listed public companies across a range of industries. Ms Dale has completed a Bachelor of Commerce (Accounting and Finance) and a Graduate Diploma of Applied Corporate Governance and is an Associate Member of both the Institute of Chartered Secretaries and Administrators and the Governance Institute of Australia.
Dr. Daphna Heffetz
Chief Executive Officer, PhytoTech Therapeutics Limited
Ms Heffetz was appointed as Chief Executive Officer of the Company on 28 January 2015.
Dr Heffetz’s has over 20 years’ experience in establishing and growing Biotech and Medtech technology based companies. Her most recent position was Chief Executive Officer with Alon MedTech Ventures, an Israeli medical device and technology accelerator.
In 2000 she founded TransPharma Medical, a specialty pharmaceutical company, where she remained as CEO and Director of the Board until 2012. TransPharma became one of the most promising active transdermal drug delivery companies in the world. During her time at TransPharma she raised US$34 million in three financing rounds from leading Israeli and International venture capital funds and brought over US$50 million from collaborations with world leading pharmaceutical companies.
Dr Daphna Heffetz holds M.Sc and Ph.D degrees in Biochemistry and a Post-Doctoral Fellow in molecular biology from the Weizmann Institute of Science.
Our Company has adopted comprehensive systems of control and accountability as the basis for the administration of corporate governance. The Board is committed to administering the policies and procedures with openness and integrity, pursuing the true spirit of corporate governance commensurate with the Company's needs.
To the extent applicable, our Company has adopted The Corporate Governance Principles and Recommendations (3rd Edition)
as published by ASX Corporate Governance Council (Recommendations
You can download a copy of the Company's Corporate Governance Plan and Constitution here
The company is seeking to make publicly available a range of documentation outlining its policies and procedures. For example, its Incentive Performance Rights Plan can be downloaded here