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Highlights From MGC Pharma's Cannabis Division Update

July 5, 2017

 (MGC Pharma's MD Nativ Segev and CEO Roby Zomer Inspecting Plants, Image Credit: MGC Pharma

 

On Monday, MGC Pharmaceuticals Ltd. (ASX:MXC) (OTC:MGCLF) released an update on their botanical (cannabis) division's operations in Europe and Australia.

Here's some of the highlights. 

 

In the Czech Republic, the company has successfully transferred 470 plants to their outdoor greenhouse facility. MGC Pharmaceuticals has a partnership with the Czech Government’s Institute of Experimental Botany to cultivate cannabis for botanical and clinical research. 

 

In Slovenia, MGC Pharma through its local partner, the University of Ljubljana has planted seeds for their development of strains tailored to the symptoms of specific conditions. The company has also planted an outdoor crop of high CBD cannabis that they expect to harvest in October. 

 

In Australia, the company is making progress in their partnership with the Royal Melbourne Institute of Technology to establish the Joint International Library of Cannabis Medicine. The library will contain a proprietary genetics database of cannabis strains as well as their medicinal indications. Additionally, MGC Pharma expects to submit its license application to begin cultivation in Australia in the coming weeks. 

 

Management Commentary

 

MGC Pharmaceuticals' Managing Director, Nativ Segev 

 

"Our operations are progressing well within the Company's Botanic Division, with early signs of successful crops boding well for our research projects and our raw material production. We expect this season's crops to bring us further insights into how to enhance both our genetics and maximize our harvest, giving us a strong competitive advantage. "

 

Market Reaction
 
Since the announcement Monday, shares of MGC Pharmaceuticals are up roughly 4%. Year to date, shares of MGC Pharmaceuticals are up more than 11%. This puts them in the middle performance wise versus their cannabis related peers on the ASX
 
View the original ASX announcement here
 
Conclusion

 

We're expanding our coverage of the marijuana industry in Australia as well as the European Union. To stay up to date, be sure to subscribe to our free Australian cannabis email newsletter and stay tuned for more coverage of the emerging marijuana industry in the European Union and surrounding countries. Also, don't forget to connect with The Daily Marijuana Observer on Facebook, Twitter and Instagram.

 

D/M/O

 

Disclaimer
 
Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.

 

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.