MGC Pharma gets go ahead to build medical cannabis facility in Malta, tops up cash

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MGC Pharma (ASX: MXC) has grown its medical cannabis production capabilities after the Maltese Government gave the company the go ahead to construct and operate a medical cannabis facility in Malta. The Maltese Government awarded MGC a contract to develop the 4,000 square metre facility after a competitive tender process. MGC was one of only five companies that were granted a contract to build and operate a licenced medical cannabis facility in the country. “This contract provides [MGC] with an attractive new cultivation site in the EU, completing the board’s strategy to operate a full vertically-integrated medical cannabis operation in Europe,” MGC co-founder and chief executive officer Roby Zomer said. Under the contract terms, MGC must spent about A$6.5 million on developing and operating a medical cannabis cultivation and production facility. MGC must also employ 25 Maltese people within its local workforce. MGC Pharma gets go ahead to build medical cannabis facility in Malta, tops up cash

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