Ann: Letter from the CEO, page-65

Panax acquisition was not free and that is what gives access to(does this mean they do not own the greenhouse facility) the Czech growing op. I guess there is only one crop a year to be able to grown in the area due to the climate or can they be light assisted in the greenhouse do you know?

The strategic acquisition of Panax gives MGC Pharmaceuticals access to the world-class facilities of the Institution of Experimental Botany at the Academy of Sciences of the Czech Republic, located in Prague.
The Institute of Experimental Botany has been granted a 5-year medical cannabis breeding license by the Ministry of Health of the Czech Republic for its research program with Panax. The project partners are now able to immediately commence research and breeding operations at the facility under the license.
Panax Pharma s.r.o is a Czech Republic based medical cannabis company that has research access rights to the IEB AS facilities. The Academy of Botanical Sciences is a leading Czech research institute in plant biology, namely in plant genetics, physiology and biotechnology.
The acquisition of Panax and its strategic partnership with the IEB AS, together with the IEB’s recently granted medical cannabis breeding license, enables MGC Pharmaceuticals to immediately commence research operations at the IEB’s facility. In addition, the acquisition provides the Company access to up to 1,000m2 of dedicated greenhouse growing space covered by the breeding license, with ability for further scale up in future operations.