Morning update from MGC9 Mar 2021 09:24
Convertible Note and Option Conversions - Appendix 2A
MGC Pharmaceuticals Ltd (ASX: MXC, ‘MGC Pharma’ or ‘the Company’), refers to:
1. The issue of 36,250,000 ordinary shares following conversion of Convertible Notes currently
held by Mercer Street Global Opportunity Fund LLC. The Convertible Notes converted had a total
face value of $725,000, and following the conversion there are now 3,850,000 Convertible Notes
on issue with a face value of $1.00 each.
The Company does not intend to draw down on any further funds from its Convertible Note Facility
with Mercer.
2. The issue of 1,931,943 ordinary shares following the exercise of Listed Options at $0.045 to
raise $86,937.
3. The Company wishes to advise 5,000,000 performance rights have lapsed as the performance