Next Investors logo grey

MGC Pharma launches online medical cannabis store


Published 14-APR-2016 11:28 A.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

MGC Pharmaceuticals (ASX:MXC) yesterday launched its online sales platform, allowing customers to purchase its cannabidiol based cosmetic product range.

MGC’s cosmetic division, MGC Derma launched the online cosmetics store and has already recorded its first retail sales.

The Ananda Cosmetics range is currently available to consumers within the European Union and other countries where CBD cosmetics products are legally sold.

Cannabidiol is a non-psychoactive component of cannabis and accounts for more than 50 per cent of known therapeutic applications.

The online shop complements MGC Pharmaceuticals existing wholesale sales channels and enables the company to accelerate its direct to customer product sales strategy.

These first online sales have followed shortly after MGC signed a $500,000 distribution deal with Czech Medical Herbs (CMH) that could have a potential retail value of $1.5 million.

“The launch of our online store is a strong complement to the Company’s established wholesale product sales channel,” said MGC co-founder and Managing Director Nativ Segev.

“With the global interest in cannabis based products growing rapidly and the large opportunity in the $US460 billion dollar cosmetics market, MGC Pharmaceuticals is well positioned to be the market leader in the cannabis industry.”

Over the coming months, MGC will develop a range of 50 products to release to market which it hopes will penetrate the global cosmetics market which is expected to be an estimated $675 billion dollar industry by 2020.

MGC is an ASX listed company and has bold ambitions in Australia.

The company is working the Australian government to obtain a license for the establishment of a “state-of-the-art” growing facility.

Its plans may be made easier with this week’s announcement that the Victorian government is clearing the way for legal access to medical cannabis in “exceptional circumstances”.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.