MGC Pharmaceuticals expects formal approval for medicinal cannabis facility in weeks

Company News

by Anna Napoli

MGC Pharmaceuticals (ASX:MXC) says the legalization of medicinal cannabis in Malta means it can obtain a formal contract for the production and cultivation of the plant.

The medicinal cannabis company says Malta provides the ideal location for manufacturing the drug due to its climate.

MGC Pharmaceuticals expects to have formal agreements from the Malta Medicine Authority signed in the coming weeks.

The company says Malta serves as the perfect location to serve the growing European market.

Shares in MGC Pharma (ASX:MXC) are trading 4.35 higher to 7 cents.

 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.