MGC Pharma gets green thumbs up from Maltese government for cannabis facility
ASX pot-stock, MGC Pharmaceuticals (ASX:MXC), has revealed its second piece of good news this week, announcing that it has now been given the green light by the Maltese government to construct a 4,000 square metre state-of-the-art medical cannabis production and cultivation facility in Malta.
This follows on closely from MXC’s announcement yesterday that it has been awarded a full medical cannabis production and cultivation contract — a pivotal piece of news that has seen considerable jumps in MXC’s share price, currently at 8.6 cents.
Past performance is not necessarily indicative of future results. As part of the due diligence process, investors must consider all factors over and above the past performance of the product. Investors should not engage with a product solely on it past performance.
MXC is now one of only five companies — and the only company in Australia — to be awarded a full medical cannabis production and cultivation contract. This continues on from the recent approval by the government agency, Malta Enterprise Corporation, of MXC’s medical cannabis project and business plan submission.
Under the agreement, MXC will be able to produce all THC (tetrahydrocannabinol) and CBD (cannabidiol) strains of medical cannabis. This widens MXC’s commercial opportunity to develop additional medical cannabis pharmaceutical products into key European and global markets, which derive benefits from both THC and CBD.
The contract terms require MXC to comply with all relevant local licenses and permits, which will be governed under the final legislative changes to Malta’s medical cannabis laws — these are currently in the throes of being finalised.
Of course as always, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
Malta Enterprise Corporation CEO, Mario Gala, said: “Malta Enterprise welcomes MXC among its community of Foreign Direct Investors establishing commercial operations in Malta. We are pleased to host investment from Australia, a country with such close business and community links to Malta.”
“The medical cannabis sector is a new sector which will continue to enhance our economic growth, which is exceeding 6% annually. This new sector is open exclusively for the production of cannabis for medicinal, research and scientific use,” added Gala.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.