There are quite a few reasons why this stock has moved Upwards a bit in SP & I think MXC covered this well in response to price query.
2 good ANNs:
CannEpil to be available on Special Access Scheme (TGA approved) which means it is not registered, but able to be prescribed by specialist neurologists to patients with intractable epilepsy & we also have the support of Epilepsy Australia & Prof Wendyl (Specialist neurologist).
Sale of MGC Derma to Canadian Company CannaGlobal, Hugh Winters & Lorne Gertner (Hiku, Tokyo Smoke & others). We are expecting $1 million payment this week from Cannaglobal & they are in the process of listing on TSX. We have a 5 year supply agreement plus R&D with Cannaglobal.
Legalisation of reacreational cannabis in Canada from 17 October 2018.
Legalisation of Medical Cannabis in the UK from 1 November 2018.
Soon to be built Malta growing & manufacturing facility, which MXC was the only Australian Company to be awarded a licence here (3 Canadian & 1 Israeli also).
Existing growing & GMP registered facility in Slovenia.
MXC have chain of supply agreements in place with Lenis Pharmaceuticals in Europe, A.M Mangion Group out of Malta (Europe) and H L Pharma in Australia
Developmental medicines in the pipeline including Canasomm for Insomnia & Cognicann for dementia, with clinical trials commencing in the near future through Notre Dame University WA.A well developed line of neutraceuticals & flower products (See website).
Donald Trump has committed to reviewing medical cannabis legislation in the USA in the near future at a National level, however leaving recreational use of Cannabis to individual states.
https://m.washingtontimes.com/news/2018/oct/11/donald-trump-will-push-federal-marijuana-reform-re/
Looking at it this way & considering this stock was trading at circa 7c last week & with current global news
on cannabis legislation, I think ASX price query was a bit of overkill. Maybe buyers are just cottoning on to the news & significance of ANNs now? Hopefully we will be trading again this morning. GLTA
Ann: Trading Halt, page-54
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Last
29.0¢ |
Change
-0.010(3.33%) |
Mkt cap ! $13.31M | |||
| Open | High | Low | Value | Volume |
| 30.0¢ | 30.0¢ | 29.0¢ | $4.596K | 15.77K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2720 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 4947 | 1 |
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| Last trade - 15.49pm 10/07/2024 (20 minute delay) ? |
| RGT (ASX) Chart |