Ann: MGC Derma - CannaGlobal Transaction Update, page-5

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03/12/18

08:50

Post #: 36724623
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Originally posted by SmlFry ↑

• All formal sale documents are scheduled to be lodged in the Slovenian court thisweek for settlement by the lawyers acting for CannaGlobal and MXC

• Executed Definitive Share Purchase Agreement and formal Slovenian MGCDerma share transfer documents have been finalised by the Company’sSlovenian notary for court lodgement as part of the MGC Derma sale process

• As required under Slovenian company law, the Share Purchase Agreement andformal share transfer documents must be translated and notarised to be lodgedin court to legally ratify the change of MGC Derma’s shareholding

• The court completion process for the share transfer is the final step in thesettlement of the transaction to sell MGC Derma to CannaGlobal

• Completion of the MGC Derma share transfer to CannaGlobal is expected tohappen in approximately 5 business days post court lodgement of the formaldocumentation, standard timing in the Slovenian court process

• MXC has received cleared funds for the C$0.5 million payment for the firstorder of CBD materials under the 5-year exclusive Supply Agreement signedwith CannaGlobal

• Following completion of the transaction and other investments by CannaGlobal,MXC will hold a 10% equity holding in the private Canadian cannabis investmentcompany; CannaGlobal

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Private investment co CG? Isnt CG the old queensland bauxtite?

MXC Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
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