1..MGC Pharmaceuticals Ltd (ASX: MXC or “the Company”) has inked...

1..MGC Pharmaceuticals Ltd (ASX: MXC or “the Company”) has inked its first exclusive binding sales agreement worth A$8 million to supply Korean cosmetics manufacturer Varm Cosmo with cannabidiol (CBD) products.A further two agreements are due to be implemented in the coming weeks with Varm Cosmo, with the combined three agreements worth A$40 million.

2.MGC Pharmaceuticals Ltd (ASX: MXC or “the Company”) is pleased to announce that it has signed a binding terms and conditions supply agreement (T&C) with Varm Cosmo Inc. (VarmCosmo) for its MGC Derma division to supply five of its cannabidiol (CBD) cosmetic products in bulk form, to be sold to consumers as part of Varm Cosmo’s cosmetics range.With a minimum agreed purchase quantity of 15,000kg per month (3,000kg per stock keeping unit) the expected deal will generate approximately $40m in annual revenue for MGC Derma.

3. You are very naive to think they were naive when they "signed" this "contract".