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MXC Mgc Pharmaceuticals Limited

0.00 (0.0%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mgc Pharmaceuticals Limited LSE:MXC London Ordinary Share AU000000MXC6 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 36.50 1,274 08:00:00
Bid Price Offer Price High Price Low Price Open Price
35.00 38.00 36.50 36.50 36.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Drug & Proprietary Stores AUD 4.16M AUD -20.82M AUD -0.5877 -1.09 22.68M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:26:00 O 12 35.00 GBX

Mgc Pharmaceuticals (MXC) Latest News (1)

Mgc Pharmaceuticals (MXC) Discussions and Chat

Mgc Pharmaceuticals Forums and Chat

Date Time Title Posts
16/11/202309:26MXC Moderated4,860
08/11/202316:58MXC Beware of the Ponzi937
14/8/202306:21Cannabis based medication4,537
10/7/202201:38MGC Pharmaceuticals LTD1,069
19/5/202218:20MGC Pharma Investor Thread131

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Posted at 01/12/2023 08:20 by Mgc Pharmaceuticals Daily Update
Mgc Pharmaceuticals Limited is listed in the Drug & Proprietary Stores sector of the London Stock Exchange with ticker MXC. The last closing price for Mgc Pharmaceuticals was 36.50p.
Mgc Pharmaceuticals currently has 35,430,491 shares in issue. The market capitalisation of Mgc Pharmaceuticals is £22,675,514.
Mgc Pharmaceuticals has a price to earnings ratio (PE ratio) of -1.09.
This morning MXC shares opened at 36.50p
Posted at 08/11/2023 10:04 by tomboyb

RNS Number : 7958S

MGC Pharmaceuticals Limited

08 November 2023

MGC Pharmaceuticals Ltd.

Capital Consolidation and US$7.9m Placement Completed

8 November 2023


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
+61 8 6555 2950 +61 8 6555 2950
UK IR/PR Advisers UK Brokers
IFC Advisory Oberon Capital
Graham Herring / Tim Metcalfe / Aimee McCusker / Adam Pollock
Zach Cohen +44 203 179 5300
+44 203 934 6630
Posted at 04/11/2023 20:41 by pierre oreilly
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.
Posted at 03/11/2023 10:46 by pierre oreilly
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.
Posted at 01/11/2023 07:21 by cal57
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
Posted at 26/9/2023 07:58 by the truth hurts a lot
Posters said there were boiler room paid rampers here, I never believed it, but it seems that Loon guy is a criminal on MXC books, paid to pump and ramp shares.

How many are averaging 2p or more here? That's min -95% losses.

Many said it's a bargain after every -10% and top-up.
Posted at 26/9/2023 07:20 by tomboyb
However, despite our material operational achievements, the Company currently finds itself at a critical financial juncture. The Company's share price has failed to appreciate and underwhelming fundraising efforts during the year have not provided the Company with the medium to long term financial stability required.

Regrettably, due to market conditions, we have faced extreme difficulties in raising funds in the UK primarily, and in Australia, despite our continued progress on the research front and our proximity to our IND submissions.

In response, the Board and management have been forced to take decisive action and design a restructuring plan to secure long-term financing that will provide the Company with the necessary runway required to achieve key inflection milestones to help restore value in MGC Pharma. This plan will reduce our reliance on constant capital raising and allow us to complete an 18-month work plan.

This financial and capital restructuring will bring greater stability and re-position the Company to be more attractive for institutional support, while enabling our management team to focus on delivering our key milestones such as submitting our first IND to the FDA, increasing our sales figures, and completing our clinical programmes.

We understand this restructure will be difficult for many shareholders. However, in light of dire alternatives, the Board and Management believe this is a necessary action to help to sustain the Company's future and financial security beyond the short to immediate term.

On behalf of the Board, we hope to have your continued support as we invite you to be part of our necessary restructuring to continue on the path to provide innovative medicines globally to meet unmet medical needs.
Posted at 31/7/2023 06:03 by looneytune
More Progress:-
MGC Pharmaceuticals Limited Permission for first import of Psilocybin
Intraday Mgc Pharmaceuticals Chart
Intraday Mgc Pharmaceuticals Chart
31/07/2023 7:00am
UK Regulatory (RNS & others)


RNS Number : 6410H

MGC Pharmaceuticals Limited

31 July 2023

MGC Pharma receives permission for first import of Psilocybin

31 July 2023



Highlights :

-- First importation approval of Psilocybin Raw Mushrooms to MGC Slovenian Research
-- MGC will perform an analysis on the materials with a view to further developing analytical and stability methods on the Psilocybin mushrooms.

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') a European based pharmaceutical company specialising in the production and development of plant derived medicines, is pleased to announce it has been granted its first import permit for 200g of Psilocybin Raw Mushroom material to its Slovenian research facility from Psyence Group Inc's ('Psyence') Southern Africa production site as part of the material transfer agreement signed between the two companies.

Under the agreement, MGC Pharma will perform an analysis on the materials with a view to assist Psyence in the development of new psilocybin products to take to market, through its GMP-certified research facility in Slovenia that was recently approved for psilocybin compounding [1] .

Psyence is a life science biotechnology company listed on the Canadian Securities Exchange (CSE:PSYG) and quoted on the OTCQB (OTCQB:PSYGF), with a focus on natural psychedelics. Psyence works with natural psilocybin products for the healing of psychological trauma and its mental health consequences. Psyence operates out of one of the world's first federally licensed commercial psilocybin mushroom cultivation and production facilities in Southern Africa and works to develop advanced natural psilocybin products for clinical research and development.

Psilocybin is a naturally occurring psychedelic prodrug compound produced by more than 200 species of fungi. Psyence focuses on developing propriety natural psilocybin drug development and treatment protocols with a focus on palliative care. The company cultivates natural psilocybin mushrooms (Psilocybe Cubensis) at its federally licensed facility.

Following MGC's successful audit of the Psyence production site to ensure that it meets the standards necessary to proceed with the export to MGC's European facilities, MGC has submitted and was granted the import approval of psilocybin. Psyence will complete the export on receipt of the export permit. Based on the analytical findings and results of the technical evaluation of the first delivery of 200g of Psilocybin Raw Mushrooms, MGC will develop analytical methods and stability testing to meet ICH guidelines.

Roby Zomer, CEO and Managing Director of MGC Pharmaceuticals, commented: "We are delighted to receive the first import approval of psilocybin under our collaboration with Psyence, which constitutes our first entry into the psilocybin market. This partnership marks a significant milestone for MGC Pharma following our recent approval for psilocybin research in our Slovenian facility and reinforces our commitment to growth and innovation.

"By joining forces with Psyence, we are combining our respective strengths and expertise to unlock new opportunities and deliver exceptional value to our customers. This collaboration enhances our ambitions to be one of the first companies to provide Psilocybin treatments alongside our plant-based treatments."

Tony Budden, Director of Strategy and Head of Production at Psyence added: " Psyence Production is pleased to collaborate with MGC Pharma in the research and development of standardized psilocybin containing products from our mushrooms. Having access to MGC's EU-GMP R&D lab, expert team and resources will help accelerate this process and we look forward to working together."


Authorised for release by the board of directors, for further information please contact:
Posted at 16/7/2023 15:53 by the mugger
FLC - 03 Jul 2023 - 17:02:46 - 4740 of 4814 MXC Moderated - MXC
Well they're still getting support from the institutions so there must be something in it. How many early stage pharmas book revenue?...not many. I saw Graft Polymer took a pounding today so wonder what's behind that.

FLC - 26 Jun 2023 - 16:39:43 - 4716 of 4814 MXC Moderated - MXC
Still here

FLC - 08 May 2023 - 09:28:33 - 4579 of 4814 MXC Moderated - MXC
I have to admit but a market cap of £12m does seem ridiculous especially with Malta just about to crank up to service what could be a huge US distribution. I think its the cash burn and future funding keeping the share price down but with this type of thing you never quite know what's around the corner. Defo worth a punt at this level so will be buying back in tomorrow...CHLL have trebled over the last few months and I reckon MXC are a much better bet.

FLC - 09 May 2023 - 22:06:56 - 4582 of 4814 MXC Moderated - MXC
What do any of us know sj, we're just the ones putting our money on the table and watching the share price go down ;-)
Posted at 12/4/2023 06:25 by heatseek77
Mgc Pharmaceuticals Share News - MXC
Current Price

0.00 0.0%
Bid Price Offer Price
0.42 0.45
High Price Low Price Open Price
Shares Traded Last Trade Market Cap (m)
0.00 01:00:00 13
MGC Pharmaceuticals Limited CannEpil(R) available by Named Patient Request in UK
Intraday Mgc Pharmaceuticals Chart
Intraday Mgc Pharmaceuticals Chart
11/04/2023 7:00am
UK Regulatory (RNS & others)


RNS Number : 7816V

MGC Pharmaceuticals Limited

11 April 2023

MGC Pharmaceuticals Ltd.

CannEpil(R) now available by Named Patient Request in UK

11 April 2023



-- CannEpil(R) , MGC Pharma's Investigational Medicinal Product ("IMP") is now available in the United Kingdom by Named Patient Request to be prescribed by doctors on The General Medical Council ("GMC") specialist register across the UK.

-- The products will be supplied in order to meet the needs of an individual patients where an unmet medical need exists .

-- The availability via Named Patient Request follows the announcement [1] that MGC Pharma is providing CannEpil(R) to an observational trial supported by the I am Billy Foundation.

-- CannEpil(R) is in the process of a clinical development programme for patients suffering from Refractory (or Drug-Resistant) Epilepsy.
Posted at 26/8/2022 07:43 by looneytune
Application for quotation of +securities
Announcement Summary
Entity name
Announcement Type
New announcement
Date of this announcement
Friday August 26, 2022
The +securities to be quoted are:
Total number of +securities to be quoted
ASX +security code
Security description
Number of +securities to be quoted
Issue date
Refer to next page for full details of the announcement
Application for quotation of +securities
1 / 6

Application for quotation of +securities
Part 1 - Entity and announcement details
1.1 Name of entity
We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.
1.2 Registered number type
1.3 ASX issuer code
1.4 The announcement is
New announcement
1.5 Date of this announcement
Registration number
Application for quotation of +securities
2 / 6

Application for quotation of +securities
Part 2 - Type of Issue
2.1 The +securities to be quoted are:
2.2 The +securities to be quoted are:
Additional +securities in a class that is already quoted on ASX ("existing class")
2.3c Have these +securities been offered under a +disclosure document or +PDS?
2.3d Please provide any further information needed to understand the circumstances in which you are applying to have these +securities quoted on ASX, including why the issue of the +securities has not been previously announced to the market in an Appendix 3B
The securities have been issued in lieu of payments to employee/consultants of the Company in order for the Company to preserve working capital. Approval to issue the securities was received after business hours on the 25/8/22, as such an Appendix 3B was not deemed necessary as an Appendix 2A would be released on the same day as the Appendix 3B.
2.4 Any on-sale of the +securities to be quoted within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of:
The publication of a cleansing notice under section 708A(5), 708AA(2)(f), 1012DA(5) or 1012DAA(2)(f)
Application for quotation of +securities 3 / 6

Application for quotation of +securities
Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B
Additional +securities to be quoted in an existing class
ASX +security code and description
Issue date
Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class?
Issue details
Number of +securities to be quoted
Are the +securities being issued for a cash consideration?
Please describe the consideration being provided for the +securities
The securities are being issued to employees/consultants for services rendered in lieu of cash payment.
Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted
Any other information the entity wishes to provide about the +securities to be quoted
The purpose(s) for which the entity is issuing the securities
To pay for services rendered
Please provide additional details
The securities are being issued to employees/consultants for services rendered in lieu of cash payment.
Application for quotation of +securities 4 / 6

Application for quotation of +securities
Part 4 - Issued capital following quotation
4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)
Total number of ASX +security code and description +securities on issue
Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:
(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)
4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)
ASX +security code and description
Total number of +securities on issue
Application for quotation of +securities
5 / 6

Application for quotation of +securities
Part 5 - Other Listing Rule requirements
5.2 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1?
5.2b Are any of the +securities being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
5.2b.1 How many +securities are being issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?
5.2c Are any of the +securities being issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?
5.1 Are the +securities being issued under an exception in Listing Rule 7.2 and therefore the issue does not need any security holder approval under Listing Rule 7.1?
Application for quotation of +securities 6 / 6
Mgc Pharmaceuticals share price data is direct from the London Stock Exchange

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