MGC Pharmaceuticals on high as Malta legalises medical cannabis

By Zoe Gross. Published at May 21, 2018, in ASX Biotechs

Specialist pot-stock, MGC Pharmaceuticals (ASX:MXC), this morning revealed that the Maltese parliament has passed final legislation for the approval of medicinal cannabis production.

This latest development is a major milestone for MXC in obtaining its formal contract for a fully licensed medicinal cannabis manufacturing facility in Malta.

MXC already has Malta Enterprise approval and a contract for its pot production facility. The company says it is now expecting to have final formal agreements signed in the coming weeks from the Malta Medicine Authority.

Malta Enterprise, the government agency responsible for attracting foreign investment, together with Malta Industrial Parks, has identified 4,000 square kilometres of land for MXC’s facility.

Planning has now kicked off for construction, and MXC anticipates approval to immediately begin construction will follow receipt of its licence and final contracts.

The production facility will house a research hub and a GMP-certified production and manufacturing facility. This will provide scope for MXC’s vision of an EU-based, fully vertically integrated, ‘seed to pharma’ medical cannabis operation.

Under this agreement, MXC will be able to produce all THC (tetrahydrocannabinol) and CBD (cannabidiol) strains of pharmaceutical-grade cannabis into key European markets. MXC will obtain GMP certification for the facility, and will comply with all Maltese medicinal cannabis licenses and permits.

With its pot-perfect climate and vantage position within the EU, Malta makes for an ideal location for MXC’s production and cultivation facility. It also presents an appealing business and cost environment compared to other EU locations, enabling cost-effective investment and direct leverage into the EU.

The EU medical cannabis market is expected to be worth $56 billion by 2020, with especially rapid growth in areas like Germany, where the market is currently worth $17.5 billion and observes a lower wholesale price of raw materials (3.5€ per gram).

How much of this market MXC is able to attract remains to be seen so investors should seek professional financial advice for further information if considering this stock for their portfolio.

Roby Zomer, MXC co-founder and managing director, said: “I am pleased to inform you that the production of cannabis for medical use has now become legal and regulated under Maltese legislation, and a plot of land within one of the Maltese industrial zones has been designated to us for our project. Once the licence by the Malta Medicines Authority is issued, we will be able to commence work on the project in Malta.”

Following this morning’s announcement, MXC is in an ascendant position, currently at 7.2 cents.

View Our Investment Portfolios

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.

Publishers Notice

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.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!