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MGC Pharmaceuticals Ltd

MGC Pharmaceuticals’ medicinal cannabis plants enter flowering phase

The harvesting of the plants will commence in the next 2 weeks.

cannabis cultivation
The biomass will be processed into cannabidiol crystals

MGC Pharmaceuticals Ltd’s (ASX:MXC) Czech Republic operation is progressing well with over 450 medicinal cannabis plants entering the flowering phase.

The growth and yield from the plants have been better than expected (for a first time crop) in the new 1,100 square metre glass house facility.

Importantly, the harvesting of the plants will commence in the next 2 weeks.

Once harvested, biomass will be processed into CBD (cannabidiol) crystals for MGC’s products including the MGC Derma cosmetics and for the company’s clinical studies.

The remaining biomass will be sold as Aquiol, a rich >98% CBD purity raw material.

MGC’s botanic division’s collaboration with the University of Ljubljana is also progressing on schedule in Slovenia.

Following the planting of medicinal cannabis seeds for a genetic research program in June 2017, the plants have now progressed to the flowering phase.

The program aims to create genetic strains with high levels of CBD and new strains with high tetrahydrocannabinol (THC) levels for the treatment of specific disease symptoms.

The team will now commence a research project which will focus on the implementation and optimisation of molecular markers for sex determination and distinction between strains.

MGC’s raw material production at its open field farm in Slovenia has also delivered encouraging production volumes.

As planned, the company has completed harvesting of its cannabis crops, yielding 4,000 kilograms of biomass in early October 2017.

Quick facts: MGC Pharmaceuticals Ltd

Price: $0.04

Market: ASX
Market Cap: $53.3 m
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