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IN BRIEF: MGC Pharma receives AUD800,000 funding from Mercer Street

Wed, 28th Dec 2022 09:45

MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Secures AUD800,000 in funding under USD10 million convertible securities financing facility agreement signed with Mercer Street Global Opportunity Fund LLC, a fund managed by Mercer Street Capital Partners. Under the terms of the facility, MGC will issue Mercer 586,432 convertible notes with a face value of USD1.0 each. The company said the funding will be used as working capital for "ongoing operations", including its clinical trials programme.

Current stock price: 0.66 pence, down 1.5% in London on Tuesday

12-month change: down 68%

By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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MXC.L Share News (MXC)

IN BRIEF: MGC Pharma receives AUD800,000 funding from Mercer Street

Midatech Chair Rolf Stahel retires; Stephen Parker named as successor

TRADING UPDATES: Avation extends easyJet lease; Abingdon wins deal

IN BRIEF: MGC Pharmaceuticals finds partner for Indian market launch

EXECUTIVE CHANGES: Carnival promotes COO & UK chief Weinstein to CEO

TRADING UPDATES: Itaconix fundraise; Graft Polymer, MGC in patent wins

TRADING UPDATES: Rambler ups production; SRT Marine anticipates loss

TRADING UPDATES: Strong recovery from Revolution Bars, Vitec

DIRECTOR DEALINGS: Atalaya Mining execs sells GBP2.4 million in shares

IN BRIEF: MGC Pharmaceuticals consideration shares sold to cover tax

TRADING UPDATES: MJ Hudson and Tandem see results ahead of views

MGC Pharmaceuticals wins food supplement import approval in India

TRADING UPDATES: Silver Bullet faces cyber attack; Zoltav to delist

TRADING UPDATES: Zambeef sales continue climb; Watchstone files claim

SMALL-CAP WINNERS & LOSERS: MGC Pharma up as on track to hit targets

TRADING UPDATES: Big Yellow boosts payout; Grafenia loss narrows

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IN BRIEF: MGC Pharma receives AUD800,000 funding from Mercer Street

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