New readers and Investors come and take a look at what we have to offer you - think this media release on 29th September answers some questions of what to expect - getting exciting int erms of operations and a re-rating should occur very soon IMO READ ON.....
IVE HIGHLIGHTED SOME OF THE CLUES WHY SOME MAY BE GETTING SET !!!
29 September 2016
ASX Code: MXC
Operations Update -Delivery on Multiple Revenue Streams Imminent
•
Set for first major product delivery and revenues under Californian distribution deal, with material discussions advanced on additional distribution deals across North America and Europe for its Anti-Aging product range
•Production of the Company’s first Slovenian API GMP grade cannabidiol (CBD)nearing completion, with first Active Pharmaceutical Ingredient (API)grade CBD production scheduled for Q2 2017
•Substantial progress of MGC Dermadivision towards launch of dermatologically tested products for the relief of several skin conditions, including Acne and Psoriasis
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Acquisition of Czech-based medical cannabis company, PANAX Pharma s.r.o (Panax) remains on track towards completionin Q4 2016
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Company to apply for an Australian Medical Cannabis licence during Q4 2016, following recent legislative changes in Australia and pursuant to Office for Drug Control process
MGC Pharmaceuticals Ltd (ASX:MXC or “the Company”), is pleased to provide an update to shareholders on recent material progress across a number of its core business units and future revenue streams
MGC Derma –Californian revenue generation, new territory agreements advanced
The Company’s Californian distribution deal for its MGC Derma Anti-Ageing line of cannabidiol cosmetics products is progressing well following a rebranding strategy ahead of the full international launch.
This is the Company’s first material commercial contract, with the first year contract value in an amount of approximately €1.2m to MGC Derma
.
MGC Derma is now entering it first phase of full production at the Dr Burstein facility in Slovenia representing the completion of a substantial commercialisation milestone for the Company.
With the Company’s Slovenian production facility for its cosmetics products ramping up to full capacity ,
MGC Pharmaceuticals now aims to rapidly expand its international presence and sales network
.
The Company is in advanced discussions with a number of interested parties across North America and Europe and will advise the market immediately upon completion of any new distribution agreements
. MGC Pharmaceuticals aims to sign multiple exclusive distribution deals by territory, similar to its Californian deal.
MGC Pharmaceuticals is currently finalising a full range of up to 50 cosmetics products which will be available during Q1 2017.
Slovenian API grade CBD extraction facility near completion
MGC Pharmaceuticals’Slovenian API grade GMP cannabidiol (CBD) extraction facility is expected to be completed by the end of 2016, with the installation of state of the art extraction equipment
. The facility will allow MXC to produce its first CBD API grade product by Q2 2017.
The Company aims for its first API CBD product for use in clinical trials in Europe and Australia for multiple conditions including epilepsy, severe nausea, palliative care and severe pain, and for use in MGC Derma products including the relief of acne, psoriasis and seborrhoea conditions.
Its certainly starting to look like a company in full flight
PS : Please seek professional advise as this is not suggestion for you to buy hold or sell MXC -
G101
