Ann: Placement of $10m Closed Significantly Oversubscribed, page-7

MGC Pharmaceuticals Ltd (ASX: MXC or “the Company”) is pleased to advise the
Company has closed its placement significantly oversubscribed. It has received firm
commitments from institutional and sophisticated investors from Asia, Australia and
North America, to raise up to $10,000,000 before costs through the issue of up to
153,846,154 ordinary shares at $0.065 each (Placement). The Placement was
restricted to s708 exempt professional and sophisticated investors only. The Lead
Manager of the Placement is Merchant Corporate Advisory Pty Ltd (Merchant).