Maltese pot deal sets MGC Pharmaceuticals ablaze

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ASX pot-stock, MGC
Pharmaceuticals (ASX:MXC), today revealed
it has been awarded a contract by the Maltese government to construct a state-of-the-art
medical cannabis production and cultivation facility spanning 4,000 square
metres. Following a competitive tender,
MXC has emerged as one of only five companies —
and the only one from Australia — to
be awarded a full medical cannabis production and cultivation contract. Having recently raised A$5
million (before costs) via a share placement to sophisticated and professional
investors of 7 cents per share, MXC is nicely positioned to establish the
production facility in accordance with the new contract. This is a pivotal milestone for
MXC, and comes on the heels of another high-impact announcement: MXC’s production of the first batch of
CannEpil™, following the
receipt of its interim Good Manufacturing Practice (GMP)
certification. Under the agreement, MXC will be
able to produce all THC (tetrahydrocannabinol) and CBD
(cannabidiol) strains of medical cannabis at the facility. This expands MXC’s commercial opportunity to develop additional medical
cannabis pharmaceutical products into key European and global markets, which
derive benefits from both THC and CBD. Maltese pot deal sets MGC Pharmaceuticals ablaze

thumbnail courtesy of finfeed.com

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