We would love to hear your thoughts about our site and services, please take our survey here.
It’ll be a big problem if the zillion of shares (in your words) are not subscribed to at anything under 99%! So we have no option but to accept the 80% discounted dilution for this latest (& hopefully last) tranche of funding. The Company needs money to continue, end of! As for the share consolidation it will not affect your shareholding value as long as you hold the minimum qty of 1,000 shares. No need to vote against this, by voting no you, me and everyone else will lose everything!
What makes you think the share consolidation is a problem? Why also do you think the SP will be 1p by the end of December?
31/07/2023 7:00am
UK Regulatory (RNS & others)
Mgc Pharmaceuticals (LSE:MXC)
Intraday Stock Chart
Monday 31 July 2023
Click Here for more Mgc Pharmaceuticals Charts.
TIDMMXC
RNS Number : 6410H
MGC Pharmaceuticals Limited
31 July 2023
MGC Pharma receives permission for first import of Psilocybin
31 July 2023
ASX Code: MXC
LSE Code: MXC
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
The answer to that is simple - DILUTION! The Company is still in development stages and therefore needs to raise capital until sales/profit stop the need to raise cash. The Company is indeed making progress and the foundations are being laid.
Good luck with your investment(s).
Where do you propose MGC get the money to fund their business, staff need paying, without staff no trials, trials need funding. No guarantees this will become fruitful but the chances are greater than lesser in my opinion. I'm afraid this is a long term hold.
off course their is rorker. there is only a very small & limited market on them as they are de listed. there will be no fireworks till they re list. matra are officially off the trading radar for the time being. don't think they are off the map though as they are actively working extremely hard bringing wells back on line and source new acquisition targets. expect another acquisition shortly if all goes to plan.
Why?
Please stop!!! Getting fed up with it. Stav you have said your piece now thats it!! Our opinions are ours you do not need to convince us otherwise. I stand by what i heard and saw. If you choose to think otherwise then so be it but stop trying to convince us we are all idiots for believing in the Company. Each to their own eh!!
I think there is a good chance of an update in the next 48hours.
Didn't read properly.
MB - who are still waiting? are you implying vlad will buy if the price is right?
i guess a few will appear over the next few weeks
Anyone got a price yet?????
Who's going to this one - any point?
Check out the website pics - Dallas with JR Ewing springs to mind - lol
You say that Kev but PH & NH messed up Soko not only that but they continued to drill without doing the proper 3d seismic. That was careless and it wasted company money and caused unecessary increased dilution. Barskiy with HIS money invested and used his experience which proved to be very successful, he carried out the 3D seismic and determined that the Soko field was not actually as generous as PH made it out to be. So he sold it for a handsome some of money. Then he took his time to source a financially (what looks like) sound acquisition. I don't get where you think he has made millions from Matra? And not everyone has lost! Please don't misunderstand me - i have never said the BoD were trustworthy. I just think the business model is ok. I hope you get a return on your investment and wish you good luck also.
I choose to remain upbeat. Do i believe in Barskiy's ability to grow a Company and make it profitable - Yes. Will i get a return on that - who knows. Is there a possibility - hell yes. Sadly Kev you cannot i repeat CANNOT catagorically say there is not an iota of hope. You need to ask yourself one question - does Barskiy want to succeed or does he want to be a sheister that somehow produces a deal that ONLY benefits himself whilst ensuring no PI gets a return. Having watched and listened to him, Lenski, Guest & Brandl I think there is hope. If Barskiy fires Brandl & Guest i will start to agree with you but as long as they remain on the board i feel that they are wanting to re list in the US.
Short presentation given by Maxim at the EGM today. hxxp://matrapetroleum.com/m/docs/MatraEGM23April2014.pdf If the reserves predicted prove to be producible, then MTA have got them at a very good price. Expectation is that 100 wells a year will be drilled over the next 3 years. $400k/well (4 to 5 days drill time per well). 10/15 boepd/well. Financing from production backed debt. MTA getting $18/mcf for the "gas" because it is so liquid rich. That certainly puts a gloss on the reserves numbers, which are predominantly gas based. MB is relocating his family to Houston, so is taking this activity very seriously. Relisting (almost certainly NYSE) when enterprise value is of the order of $200m. Hope is 2015.
Kev, i'm one of those people you claim to have confirmed that have been placated, but i fail to see how you can be so confident without all the facts and without attending the meetings. How do you think de listing benefits MB? Do you think he has a vendetta against PI's? Do you think staying on AIM is the way forward? Why? So you can sell your shares? That puts you on the same level as MB if you think it is all about him. Are you saying that all the research on valuations on different markets is a red herring? You needed to be there Kev! If someone makes an offer for the Company then all shareholders will be approached with the same priced offer. Don't forget he is governed by law as a CEO of a UK listed Company. I can understand why you think this is over equally as i think it's NOT over. C'est la vie
It's a tough call for sure! I think the de listing reason is genuine. Even if they re listed they would probably have had to suspend again. It's all about growth. MB still maintains his stance on growing the Company. I think they would have gone for a US listing regardless i.e.. dual listing with the view to de list from AIM. He still talks big and i believe he is focussed. Only time will tell. Will i sell my holding via JPJ - No!! My questions were answered in a professional manner. To put it bluntly i believe!!!!! (sounds corny)