MGC used to be a mining exploration (Shell) company called Erin...

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josh1459

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19/03/20

17:53

Post #: 43589930
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Originally posted by Sparkz918: ↑

A tiny cannabis company who struggled to obtain enough capital (50% of the expected amount) is now planning to get into "joint venture" with a swiss company", in relation to the novel COV-19?!

To me, the only thing that cannabis has anything to do with COV-19, is people in some European countries are using cannabis while having self-isolation at home. But the question is does recreational cannabis has anything to do with medicinal cannabis?

Also, Since there is so little money left in MGC's bank, I really can't see where they can get the money for the Joint Venture? Does it mean more capital raising in shortcoming future?

In my humble opinion, it is paramount that they use the capital wisely focusing on medical cannabis products that they already have. Money should be spent on improving manufacturing efficacy and quality, reducing costs etc, not getting involved into all different sort of new projects, especially under current market environment.

MGC sounds a bit like mining company to me now, it looks like a struggling Lithium-mining company is getting into JV with a rare-earth mining company..

(Also, Gilead is an American company, not a Swiss company. So I don't believe this has anything to do with Gilead.)

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MGC used to be a mining exploration (Shell) company called Erin resources, If memory serves me seems like it's still a Shell used to drain money

MXC Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
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