Mgc Pharmaceuticals Share Discussion Threads

[tomboyb] 15/11/2023 09:40

climbing -

[kirk 6] 08/11/2023 11:34

Yes looks like this is going to blow upwards great trade to buy now

[tomboyb] 08/11/2023 10:05

As previously announced on 1 November 2023, the Company would like to clarify that following the Consolidation and Placement, only 3,067,543 ordinary shares were be admitted to the Financial Conduct Authority's Official List and to trading on the Main Market of London Stock Exchange plc. The remaining 32,362,948 ordinary shares (post completion of the Placement) that have not being admitted to trading were issued to the Australian market and are trading on the Australian Stock Exchange. These remaining ordinary shares are anticipated to be admitted to the Financial Conduct Authority's Official List and to trading on the Main Market of London Stock Exchange plc in due course and in accordance with the applicable regulatory timeframe under the FCA Listing Rules.

[tomboyb] 08/11/2023 10:04

TIDMMXC

RNS Number : 7958S

MGC Pharmaceuticals Limited

08 November 2023

MGC Pharmaceuticals Ltd.

Capital Consolidation and US$7.9m Placement Completed

8 November 2023

ASX, LSE: MXC

MGC Pharmaceuticals Ltd (MGC Pharma, MGC or the Company), a European based pharmaceutical company specialising in the production and development of innovative medicines for unmet medical needs, is pleased to announce that following shareholder approval at a General Meeting held on 25 October 2023, the consolidation of the Company's total issued capital on a 1:1,000 basis (Consolidation) has been completed, along with the settlement of the US$7.9m share placement (Placement) as announced on 1 November 2023.

Upon completion of the Consolidation and Placement, the Company's capital structure will consist of the below:


Class of Securities Number of Securities
Fully Paid Ordinary Shares 35,430,491
---------------------
Unlisted options exercisable at US$0.32 on or before
7 November 2028 15,500,000
---------------------
Unlisted options (various ex. price from GBP1.20
to A$13.00, April 2024-July 2026) 858,824
---------------------
Performance Rights 18,400
---------------------
Convertible Notes (Mercer Opportunities Fund) 7,306,432
---------------------

As previously announced on 1 November 2023, the Company would like to clarify that following the Consolidation and Placement, only 3,067,543 ordinary shares were be admitted to the Financial Conduct Authority's Official List and to trading on the Main Market of London Stock Exchange plc. The remaining 32,362,948 ordinary shares (post completion of the Placement) that have not being admitted to trading were issued to the Australian market and are trading on the Australian Stock Exchange. These remaining ordinary shares are anticipated to be admitted to the Financial Conduct Authority's Official List and to trading on the Main Market of London Stock Exchange plc in due course and in accordance with the applicable regulatory timeframe under the FCA Listing Rules.

Voting Rights

The Company has 35,430,491 ordinary shares in issue, each with one voting right. Therefore, the Company ' s total number of shares on issue and voting rights is 35,430,491. This may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA ' s Disclosure Guidance and Transparency Rules.

Roby Zomer, Managing Director and CEO of MGC Pharma, commented: "I am delighted to announce that the Company has successfully concluded its full capital restructuring and refinancing, thanks to the backing of a number of strategic, high net worth investors from the United States and Europe. These individuals fully understand the Company's long-term potential and are committed to supporting its operations, execution of the business plan to maximise the MGC Pharma enterprise value and shareholder returns. As of today, our Company is now fully funded and well-positioned to proceed with the execution of its pharmaceutical work plan for 2024."

- Ends-

Authorised for release by the Board of Directors, for further information please contact:


MGC Pharmaceuticals Ltd MGC Pharmaceuticals Ltd
Roby Zomer Rowan Harland
CEO & Managing Director Company Secretary
[phone] [phone]
[e-mail] [e-mail]
UK IR/PR Advisers UK Brokers
IFC Advisory Oberon Capital
Graham Herring / Tim Metcalfe / Aimee McCusker / Adam Pollock
Zach Cohen [phone]
[phone] [e-mail]
[e-mail] [e-mail]

[kirk 6] 07/11/2023 12:09

Looks good now could see 100% today

[pierre oreilly] 04/11/2023 20:41

I doubt that, whatever the advfn graph says.

It almost certain lost >50% on consolidation and the associated fund raising, not after. The opening price would have reflected the fund raising price (about 21p) and number of placing shares, and the pre consolidation price and number of shares, which result in a mid of about 25p. Those in the placement have gained a bit, existing holders lost a lot. (And if they weren't offered a price well below the prevailing price, no one would have subscribed and mxc would be bust).

It hasn't gone down since the consolidation - but the point is pretty moot anyhow.

[sloppyjoe2] 03/11/2023 17:30

So this has lost >50% of its value *since* the consolidation? What a total crock...

[amaretto1] 03/11/2023 15:20

Each share in old money Is now worth 0.00024 ! Wow

[pierre oreilly] 03/11/2023 10:46

I always wanted to keep a few pigs and goats on a smallholding.

Well, I've got my smallholding, but in mxc, not the countryside.

1 for 1000 makes everyone a small holder I expect.

Shame really, but the gov is being extremely obstinate - way beyond careful imv - in accepting the major benefits of cannabis derivatives, life changing for so many.

Well we are still alive and kicking in spite of the government and nice.

Anyhow, in shares like this, it is more than likely boom or bust, so occasionally we are likely to get a not so good outcome from small caps. C'est la vie, lets hope for better things in the future here, but meanwhile mentally write off any old investments here and anything back in a couple of years will be a bonus.

[looneytune] 01/11/2023 13:26

Agreed re the trolls! I assume they were shorting and helped decimate the share price Can't understand how shorting is legal.

[flc] 01/11/2023 13:01

I guess so looneytune...they were cutting things a bit fine but at least it's not gone down the pan which is what the trolls were hoping for.

[looneytune] 01/11/2023 10:06

Great news for the SH's FLC! Without this we were all finished! If nothing else RZ is determined! All we can do now is watch & wait. This is not where I was hoping we'd be by now but that's life I guess. Hopefully it will come good next year.

[flc] 01/11/2023 09:43

Good news for the Board but not great for SHs. I sincerely hope they use the funds wisely and can actually make this happen.

[cal57] 01/11/2023 07:34

https://www.proactiveinvestors.co.uk/companies/news/1031578/mgc-pharmaceuticals-secures-funding-through-to-the-end-of-2024-1031578.html

[cal57] 01/11/2023 07:21

1 November 2023ASX Code: MXCLSE Code: MXC Fund RaisingMGC Secures US$7.9 Million In Firm Commitments for New MGC Pharmaceuticals Ltd (MGC Pharma, MGC or the Company) a European based pharmaceutical company specialising in the production and development of innovative medicines for unmet medical needs, is pleased to announce that following shareholder approval for a new share placement secured at the Company's General Meeting on 25th October 2023 (Placement), the Company confirms that it has received binding commitments from sophisticated and professional investors (Investors) to subscribe for US$8 million of new shares under the Placement, at an issue price of US$0.255 (A$0.40)1 per share (on a post-Consolidation basis).The issue of shares under the Placement is anticipated to occur in the next week, post completion of the 1:1000 consolidation of capital, as approved by shareholders at the same General Meeting on 25th October (Consolidation). Participants in the Placement will also receive one free attaching option for every two shares subscribed for and issued. The options will be exercisable at US$0.32 (A$0.50) (on a post-Consolidation basis), with a five-year term and will otherwise be issued on the terms and conditions set out in Schedule 1 of the Notice of Meeting dated 26 September 2023 (Options).Following the Placement, 31,000,000 fully paid ordinary shares and 15,500,000 Options will be issued with shareholder approval under Listing Rule 7.1 (obtained 25 October 2023).The US$7.9 million secured represents the minimum amount required to fund MGC Pharma's full business plan over the next 12-month period, that is focused on the IND applications of CimetrA and CannEpil in the USA .The Company currently intends to use the funds on the following basis2:? CannEpil® - initiation of phase II clinical trials (in Australia) and submission of the USA Investigational New Drug Application (Food and Drug Administration) - c.US$2.6m;? CimetrA® - completion of phase IIB dose finding study in Israel, and submission of the USA Investigational New Drug Application (Food and Drug Administration) c.US$2.4m;? Marketing and pharmaceutical conferences costs c.US$1.2m;? Working capital c.US$1.3m; and? Costs of placement including ASX, LSE costs and prospectus submission in the UK c.US$0.4mThe Company notes that the above use of funds is a statement of current intentions as of the date of this announcement. As with any budget, intervening events and new circumstances have the potential to affect the manner in which the funds are ultimately applied.The Investors were identified from within the existing network of the Company's Board and executive management through a bookbuild process, which involved seeking expressions of interest from unrelated professional investors, sophisticated investors and/or other investors that are exempt from the disclosure requirements in section 708 of the Corporations Act 2001 (Cth). Furthermore, the Company confirms that no fees will be paid to any party for managing the Placement.1 As approved by shareholders at the General Meeting held 25 October 2023, the issue price per share was equal to the volume weighted average

[multynyck] 23/10/2023 03:22

[quote=castiglioncello - Post #1 - 14/Mag/2014 07:48]Che fantasia! Berlusconi ci aveva portati alla bancarotta totale , lo spread non si alzava per volere di due politici con l' avallo di Napolitano: gli investitori non avevano fiducia in un leader che rimandava le riforme per non perdere il consenso elettorale! Rimandava le riforme agli anni successivi. E non metteva mano alla riforma delle pensioni...[/quote]
L’Europa rischia la recessione più di ogni altra area. Per la Bce è tempo di una pausa sui tassi
ECONOMIA
L’EUROPA RISCHIA LA RECESSIONE PIÙ DI OGNI ALTRA AREA. PER LA BCE È TEMPO DI UNA PAUSA SUI TASSI

[ic0gcds00] 09/10/2023 13:52

This company directors and ceo deserve to be in prison

[heatseek77] 29/9/2023 13:59

sloppy that's funny as you said you bought some 3 mths ago, you and all your sad aliases - you and ya fat slaphead mate living in sh1tesville on the the hill 😂🤣😂



sloppyjoe226 Sep '23 - 13:26 - 4836 of 4838
0 0 0
Really glad I sold out when the price was just under 3p. I took a hefty loss, but at least I salvaged something. I lost all faith in the mgmt - and nothing I’ve seen since has persuaded me I’m wrong

[tomboyb] 26/9/2023 14:54

Run rate for 18 months -

Whats their cash burn and 18 months of it looks like a wipeout -

[papillon] 26/9/2023 14:52

The Imperialist 17 Aug '23 - 14:13 - 4815 of 4836
0 3 0
I'm in. My trade has been split. This has to be the bottom IMHO. Give it a week or two and we should be at the races.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>

OUCH!

[sloppyjoe2] 26/9/2023 13:26

Really glad I sold out when the price was just under 3p. I took a hefty loss, but at least I salvaged something. I lost all faith in the mgmt - and nothing I've seen since has persuaded me I'm wrong.

[professor_x] 26/9/2023 11:46

Yet another bottom, as we have been by the same people many times.

Completely wiped out for PI. It seems the pessimists win again, and the loons lose again. Happens 99% of the time.

Prof X