Dooleys Pre Market 30 May, page-53

MXC price sensitive this morning, not holding it but this looks positive

Health Canada Approves MGC Derma CBD Cosmetics
• MGC Pharmaceuticals has received approval from regulatory body, Health Canada, for its MGC Derma AntiAging
line of Cannabidiol-based (CBD) cosmetics products
• Enables the Company to immediately enter the Canadian cosmetics market estimated to be worth
US$1.9 billion in 20151 and to pursue distribution and sales of the products across Canada
• This follows immediately from regulatory approvals by the US FDA and European Commission’s CPNP for
the MGC Derma CBD cosmetic products, with Australian TGA application currently under assessment
• Demonstrates further execution and delivery by the Company on its commercialisation strategy
MGC Pharmaceuticals Ltd (ASX: MXC, “MGC Pharma” or “the Company”) is pleased to announce that it has
received approval from Canadian regulatory body, Health Canada, for its MGC Derma Anti-Aging line of
Cannabidiol-based (CBD) cosmetics products.
The approval allows the Company to distribute and sell the product line across Canada, entering the Canadian
cosmetic market which was estimated to be worth US$1.9 billion in 20151. The Company is currently in
negotiations on distribution agreements in Canada to facilitate sales into this key market, which is a leader in
the global medicinal cannabis industry.
The Health Canada approval follows recent approvals granted by the US Food and Drug Administration (FDA)
and European Commission’s Cosmetic Products Notification Portal (CPNP) for the product line.
In addition, the Company is currently awaiting the outcome of its application to the Australian Therapeutic Goods
Administration (TGA) for approval of the product line. The outcome of this application is expected in the short
term, and if approved would allow the Company to sell the product line to Australian consumers and MXC’s
Australian shareholders.