The JV agreement with Slovenian based Natura Laboratories, opens the door for ERI to supply highly sought after CBD resin to European cosmetic manufacturers. It also enables ERI / MGC to create and market its own brand of cosmetics and highly consumable personal health, beauty & hygiene products, thereby maximizing its return on investment.
“MGC now well positioned to achieve commercialisation- first revenues expected within 6 months and target of +US$10m net revenue in CY2017 “ ( as per today’s announcement)
This is a great announcement. I would not be at all surprised if management were close a supply agreement with a major European cosmetic manufacturer.
“MGC’s licenses in Slovenia make it the only company in the region who can both grow and extract CBD on site, which sets the business apart from others in the region.”
This all makes for a very exciting and lucrative future.
Ann: MGC Executes JV Agreement for Cosmetics and Medical Products, page-2
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