Q3 is coming upon us and we should see some buying back
MXC 's Operational Update European Extraction Facility Completed Immediately subsequent to the end of the March
MGC Pharmaceuticals announced the completion of its European Extraction Facility. Initial trial extraction operations have commenced and have already successfully produced high-quality cannabinoids CO2 extract fractions.
The first commercial API extractions are expected to be produced in Q3 CY2017, once Good Manufacturing Practice (GMP) certification has been received from the Agency for Medicinal Products and Medical Devices of the Republic of Slovenia (JAZMP). The Facility will produce high margin API Cannabinoid extract for use in medicinal products, including in MXC’s own clinical studies and trials in Europe and Australia.
The Facility represents a significant commercial advantage for MGC Pharmaceuticals as it will become one of only a few GMP certified API extraction facilities in Europe. The Company expects to receive GMP certification for the Facility in the June quarter.
MXC Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
