MGC Pharmaceuticals celebrates medical cannabis legislative change in Malta


The final piece of its cannabis production line has now slotted into place for MGC Pharmaceuticals (ASX: MXC) after final legislation was passed by the Maltese Parliament last week. The legislation legalises the production of cannabis for medical use in Malta and gives a resounding green light for MGC Pharma to kickstart its production line of cannabis products on the Mediterranean island. The news is a superb follow-on from last month’s announcement that the Maltese Government had awarded MGC a contract to develop its very own 4,000 square metre facility after a competitive tender process was completed. MGC was one of only five companies to be granted a contract to build and operate a licensed medical cannabis facility in the country and substantiates its proclaimed strategy of operating a “vertically-integrated” medical cannabis operation from the heart of Europe. MGC said it is now expecting to have final formal agreements from the Malta Medicine Authority to be signed in the coming weeks, with other commercial channels also in motion. In view of its Maltese production phase commencing in the near term, MGC also said that it has identified 4,000 square metres of land which will serve as the basis for a “medical cannabis production and cultivation facility” with construction planning already commenced. MGC Pharmaceuticals celebrates medical cannabis legislative change in Malta

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