Business

MGC Pharmaceuticals (ASX: MXC) to be listed on the London Stock Exchange

In an effort to broaden its international profile, MGC Pharmaceuticals (MXC) says it is in the final stages of listing its shares on the London Stock Exchange
The company’s shares will be listed on the standard segment of the main LSE market, with completion expected in February this year.
London-based stock broker Turner Pope has been appointed to help raise $ 5million (roughly AU $ 8.95million) through institutional investors in the UK.
The proceeds will be used to fund various clinical trials, increase product distribution in new markets and complete the construction of manufacturing facilities in Malta.
MGC Pharmaceuticals is currently in a trading halt which is expected to last until Thursday, February 4, and last traded at a price of 2.6 cents per share on February 1.

In an effort to broaden its international profile, MGC Pharmaceuticals (MXC) says it is in the final stages of listing its shares on the London Stock Exchange.

The Europe-based company operates under a “Nature to Medicine” strategy within the phytocannabinoid and herbal drug industry, with products on the market that treat two common medical conditions, epilepsy and dementia, and others in its development pipeline.

Dual listing on both ASX and LSE should provide access to UK financial markets, as well as exposure to new institutional and sophisticated investors.

MGC Pharmaceuticals plans to be one of the first cannabis-related companies to feature in the standard segment of the main LSE market, providing investors with an attractive investment opportunity in the rapidly growing medicinal cannabis industry.

As part of the listing process, which is slated to end in February this year, London-based stock broker Turner Pope has been appointed to help raise $ 5million (approximately AU $ 8.95million) per through institutional investors in the UK.

Full details of the fundraiser will be revealed over the next few days, and the proceeds will be used to fund a Phase 3 clinical trial of ArtemiC, scheduled for the first half of this year, and a Phase 2b trial of CannEpil. .

A portion of the funding will also be used to increase the distribution of the Company’s products in new markets, including Brazil and several European countries, as well as to cover the costs of registering ArtemiC in Russia, the Middle East and Europe, and the completion of a proposed manufacturing facility. in Malta.

“I am delighted to announce that we are moving forward with the admission of MGC Pharmaceuticals to the main market of the London Stock Exchange, which will position the company for the next phase of its growth and development,” said Roby Zomer, Managing Director of MGC Médicaments.

“Our entry is the culmination of the past six years of hard work, positioning MGC Pharma as a leader in the emerging phytocannabinoid pharmaceutical industry,” he added.

MGC Pharmaceuticals is currently in a trading halt which is expected to last until Thursday, February 4, and last traded at a price of 2.6 cents per share on February 1.

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