Sorry if this has been done to death but just a few things.The...

Sorry if this has been done to death but just a few things.

The agreement with LENIS was announced a long time ago - maybe 2 years. It is good to see that LENIS is finally popping up in announcements (and I thought it was mainly targeting the Easter European markets as well). The sort of arrangements done by all companies often goes almost unnoticed until some outcomes are brought to light.

To my knowledge, this is the first time that any supply of CogniCann has been mentioned. That is a very good outcome if sale orders have been received. Strengthens MXC's product line. Has the potential to increase revenue streams when partnered with CannEpil.

UK market is potentially two and half times that of the Australian market. Projected annual revenue in Australia for CannEpil under the existing limited arrangements alone was estimated at $1mil - and not sure if there have been any changes to that amount. Presumably, after a one year arrangement, the shackles could be removed and CannEpil will go on to general availability status so revenue should increase in the future. If CannEpil and CogniCann are well accepted in the UK then there should be a serious increase in revenue over the next two years.

27.5 mil shares traded on Friday after the announcement - and it could be that the market sees the potential of this development as being very important for MXC moving forward. Be interesting to see if other countries in Europe start taking notice of MXC's products now that they are in the UK.

For those who are jaded by the SP (probably all of us to be fair) this announcement proves the adage that biotech companies take time to develop and we can't expect huge things to happen every day.



MGC Pharmaceuticals Ltd (ASX: MXC, “MGC Pharma” or “the Company”) is pleased toadvise it has received a United Kingdom Controlled Drug Import Licence permit (Permit) forthe importation of CannEpilTM into the United Kingdom. In addition, the Company has alsoreceived its first formal purchase orders for CannEpilTM through licensed distributionpartners in both Australia and the United Kingdom.Receipt of the Permit provides the opportunity to immediately expand the Company’sdistribution of CannEpilTM into the United Kingdom medicinal cannabis products market,which will be managed in the region by MXC’s distribution partner, Lenis.The Company was also pleased to confirm it has received its first formal purchase ordersfor CannEpilTM in both Australia and the UK, through licensed distribution partners. Thedelivery of products to fulfil these initial purchase orders are planned for April, with neworders from these licensed distribution partners anticipated as new distribution channelsare established in the coming months.MXC is actively finalising negotiations with licensed distributors in Australia and the UK,and expects to sign formal binding agreements within the coming weeks. The agreements,once signed, will significantly expand distribution of CannEpilTM, CogniCannTM and theCompany’s other IMPs in the United Kingdom and Australia.