MGC Pharmaceuticals has received two licenses from the Slovenian Government, the Ministry of Agriculture and The Ministry of Hemp and Poppy Control in the region, allowing the business to grow, process and trade Cannabis Sativa L (Hemp) and its products, including Cannabidoil (CBD) resin, in Europe.
CBD has no psychotropic properties, unlike its popular cousin Tetrahydrocannabinol (THC). In the global market, CBD typically sells for between $US50,000 to $US70,000 ($65,000 to $92,000) a kilo.
A key milestone
"Receiving these licenses is a key milestone for MGC," said managing director Nativ Segev. "The ability to both grow and process the Cannabis Sativa (Hemp) on site at the facility in Slovenia sets the business apart from other pure growers in the region and significantly de-risks the businesses path towards near-term commercialisation."
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