Driving the investor momentum is details emerging that the company has signed a binding terms and conditions agreement with Varm Cosmo Inc. for its MGC Derma division to supply five of its cannabidiol cosmetic products in bulk form, to be sold to consumers as part of Varm Cosmo’s cosmetics range.
With a minimum agreed purchase quantity of 15,000 kilograms per month, the expected deal will generate circa $40 million in annual revenue for MGC Derma.
The MGC Derma division is a 51:49 joint venture with Dr. M. Burstein Ltd, of which MGC Pharmaceuticals owns 51% and holds management control.
|MGC Pharmaceuticals Ltd||MXC||$0.065||71.05%||88,084,263|
|Australian Mines Ltd||AUZ||$0.053||-13.12%||65,137,946|
|Magnum Gas & Power Ltd||MPE||$0.002||100%||40,931,125|
|Range Resources Ltd||RRS||$0.002||-33.33%||38,614,460|
|Atlas Iron Ltd||AGO||$0.018||5.88%||28,158,015|
|AVZ Minerals Ltd||AVZ||$0.180||12.50%||24,951,416|
|Lakes Oil NL||LKO||$0.002||0%||23,430,499|
|Laneway Resources Ltd||LNY||$0.003||0%||19,706,583|