Well, it got a mention on Motley Fool. Always good to advertise
The MGCPharmaceuticals Ltd(ASX: MXC)share price has returned to trade and climbed over 6% to 5.1 cents. This morning the cannabis company announced the sale of its MGC Derma business to cannabis investment company Cannaglobal. According to the release, a binding term sheet has been signed for C$12.5 million in Cannaglobal equity, a C$2.5 million loan repayment to the company, and a 5-year CBD and cosmetic materials supply agreement. To complete the transaction the company has acquired the remaining 49% of MGC Derma held by partner Dr. M. Burnstein Ltd for C$1.25 million.
Ann: Sale of MGC Derma to Strategic Partner Cannaglobal Canada, page-76
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