viewMGC Pharmaceuticals Ltd

MGC Pharmaceuticals secures $4.75 million; on track to LSE listing this year

The company is actively progressing towards a listing on the London Stock Exchange in the second half of calendar year 2019.

MGC Pharmaceuticals Ltd - MGC Pharmaceuticals secures commitments to raise $4.75m fast-tracking LSE listing
MGC Pharma is positioned to be one of the first medicinal cannabis companies to list on the LSE

MGC Pharmaceuticals Ltd (ASX:MXC) has secured commitments to raise $4.75 million by way of a share placement to sophisticated and professional investors at an issue price of 4 cents per share.

The company will also undertake an offer of shares to eligible existing shareholders under a priority offer to raise up to an additional $1 million at the same issue price.

MGC Pharma has engaged Canaccord Genuity in Australia to act as the company’s equity capital markets advisor, and in the UK to lead the company’s planned dual-listing on the London Stock Exchange (LSE).

During 2019, MGC Pharma has materially advanced its dual-listing strategy with Canaccord, and is actively progressing towards a listing on the LSE in 2HCY2019.

Following the introduction of medicinal cannabis legislation in November 2018 in the UK, MGC Pharma is positioned to be one of the first medicinal cannabis companies to be listing on the LSE or any major exchange in the United Kingdom.

“Fast growing medicinal cannabis market”

MGC Pharma co-founder and managing director Roby Zomer said: “The level of interest from new and existing investors in MGC Pharma is a testament to the opportunity that our businesses offers investors in providing exposure to the fast growing medicinal cannabis market and our unique ‘seed to pharmacy’ strategy.”

Up to $5.75 million to be raised through the placement and priority offer will be used to fund the company’s ongoing operations for productions and sales of pharmaceutical grade cannabinoid derived medicines.

Zomer added: “We have had an incredible busy period of late where we have rapidly advanced the business, delivering material results through ground-breaking research and development and managing capabilities.”

Quick facts: MGC Pharmaceuticals Ltd

Price: 0.066 AUD

Market: ASX
Market Cap: $147.1 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of MGC Pharmaceuticals Ltd named herein, including the promotion by the Company of MGC Pharmaceuticals Ltd in any Content on the Site, the Company...


MGC Pharmaceuticals get set for LSE debut as first medicinal cannabis...

MGC Pharmaceuticals Ltd's (ASX:MXC) (FRA:H5O) (LON:MXC) Co-founder and MD Roby Zomer joins Proactive London to explain why the company has chosen to list on the London Stock Exchange (LSE) on Tuesday, February 9.  This move will mean the firm will become the first medicinal cannabis...

1 month, 1 day ago

2 min read