So it would seem that Medical cannabis is finally coming to Czech republic after all.
MGC Pharmaceuticals Ltd (ASX: MXC) has relisted on the Australian Securities Exchange and will move ahead with a $5 million planned capital raising after the ASX confirmed that MGC’s acquisition of a European medical cannabis company does not constitute a change of nature or scale under Chapter 11 listing rules.
The funds will be used to expand MGC’s European operations and to acquire Panax Pharma s.r.o., a Czech-based company holding a medical cannabis breeding license with access to growing space in the Vukoz Research Institute of the Czech Ministry of the Environment.
Under the agreement, MGC Pharma will be issued 25% equity in Panax upfront, and a further 55% for funding the next year’s operational costs, up to a maximum of €700,000 to acquire total 80% equity of Panax.
Looks like the debate in parliament finally bore some fruit! A first for Czech politics perhaps :)
Of course, not everyone can get their fix of the green stuff, medical or not. So for now most people will have to rely on social networking or even directly contacting some people who are sympathetic to the plights of those needing medical marijuana.
MGC Pharmaceuticals Ltd (ASX: MXC) has relisted on the Australian Securities Exchange and will move ahead with a $5 million planned capital raising after the ASX confirmed that MGC’s acquisition of a European medical cannabis company does not constitute a change of nature or scale under Chapter 11 listing rules.
The funds will be used to expand MGC’s European operations and to acquire Panax Pharma s.r.o., a Czech-based company holding a medical cannabis breeding license with access to growing space in the Vukoz Research Institute of the Czech Ministry of the Environment.
Under the agreement, MGC Pharma will be issued 25% equity in Panax upfront, and a further 55% for funding the next year’s operational costs, up to a maximum of €700,000 to acquire total 80% equity of Panax.MGC Pharmaceuticals Ltd (ASX: MXC) has relisted on the Australian Securities Exchange and will move ahead with a $5 million planned capital raising after the ASX confirmed that MGC’s acquisition of a European medical cannabis company does not constitute a change of nature or scale under Chapter 11 listing rules.
The funds will be used to expand MGC’s European operations and to acquire Panax Pharma s.r.o., a Czech-based company holding a medical cannabis breeding license with access to growing space in the Vukoz Research Institute of the Czech Ministry of the Environment.
Under the agreement, MGC Pharma will be issued 25% equity in Panax upfront, and a further 55% for funding the next year’s operational costs, up to a maximum of €700,000 to acquire total 80% equity of Panax.
MGC Pharmaceuticals Ltd (ASX: MXC) has relisted on the Australian Securities Exchange and will move ahead with a $5 million planned capital raising after the ASX confirmed that MGC’s acquisition of a European medical cannabis company does not constitute a change of nature or scale under Chapter 11 listing rules.
The funds will be used to expand MGC’s European operations and to acquire Panax Pharma s.r.o., a Czech-based company holding a medical cannabis breeding license with access to growing space in the Vukoz Research Institute of the Czech Ministry of the Environment.
Under the agreement, MGC Pharma will be issued 25% equity in Panax upfront, and a further 55% for funding the next year’s operational costs, up to a maximum of €700,000 to acquire total 80% equity of Panax.
Looks like the debate in parliament finally bore some fruit! A first for Czech politics perhaps :)
Of course, not everyone can get their fix of the green stuff, medical or not. So for now most people will have to rely on social networking or even directly contacting some people who are sympathetic to the plights of those needing medical marijuana.
MGC Pharmaceuticals Ltd (ASX: MXC) has relisted on the Australian Securities Exchange and will move ahead with a $5 million planned capital raising after the ASX confirmed that MGC’s acquisition of a European medical cannabis company does not constitute a change of nature or scale under Chapter 11 listing rules.
The funds will be used to expand MGC’s European operations and to acquire Panax Pharma s.r.o., a Czech-based company holding a medical cannabis breeding license with access to growing space in the Vukoz Research Institute of the Czech Ministry of the Environment.
Under the agreement, MGC Pharma will be issued 25% equity in Panax upfront, and a further 55% for funding the next year’s operational costs, up to a maximum of €700,000 to acquire total 80% equity of Panax.MGC Pharmaceuticals Ltd (ASX: MXC) has relisted on the Australian Securities Exchange and will move ahead with a $5 million planned capital raising after the ASX confirmed that MGC’s acquisition of a European medical cannabis company does not constitute a change of nature or scale under Chapter 11 listing rules.
The funds will be used to expand MGC’s European operations and to acquire Panax Pharma s.r.o., a Czech-based company holding a medical cannabis breeding license with access to growing space in the Vukoz Research Institute of the Czech Ministry of the Environment.
Under the agreement, MGC Pharma will be issued 25% equity in Panax upfront, and a further 55% for funding the next year’s operational costs, up to a maximum of €700,000 to acquire total 80% equity of Panax.