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
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