MGC Pharmaceuticals - MGC Derma sale completed
Key milestones for MGC Pharmaceuticals in 2019 include the launch of CannEpil sales in Australia, finalising contracts for the construction of a cannabis production and cultivation facility in Malta, and initiation of a Phase II study of CogniCann in dementia. The company has completed the sale of MGC Derma to CannaGlobal, which was announced in September. The transaction was restructured in November, which sees us reduce our valuation of the consideration to A$7.5m (vs A$12.5m). We adjust our valuation to A$135m (vs A$140m) due to the lower transaction valuation.MGC Pharmaceuticals as various inerest in seven prospective gold assets located in the Republic of Senegal, being the Lingokoto, Bouroubourou, Wassadou North and South, Woye, Garaboureya South and Balakonko gold projects.
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