RE: Top Up19 Feb 2021 09:27
RRNS Number : 5498P
QUATERLY REVENUES ALREADY IN THE PIPLINE - LOW VALUATION ON THIS STOCK
MGC Pharmaceuticals Limited
18 February 2021
18 February MGC Pharmaceuticals Ltd
2021 Master Supply & Distribution agreement signed with Swiss
ASX Code: PharmaCan AG for exclusive worldwide [1] distribution
Key Highlights :
-- Minimum three (3) year exclusive worldwide(1) supply and distribution agreement signed with leading European nutraceuticals producer and distributor, Swiss PharmaCan AG, for the distribution of ArtemiC(TM) Rescue as a food supplement
-- This agreement follows the completion of a successful phase II double-blind, placebo-controlled clinical trial on 50 COVID-19 patients across Israel and India that met all its primary and secondary endpoints
-- Agreement includes minimum wholesale order quantity to MGC Pharma of 40,000 units of ArtemiC(TM) Rescue per quarter
-- Initial wholesale order of 10,000 units received by MGC Pharma, which has a total retail market value of US$850,000 for Swiss PharmaCan AG
-- MGC Pharma to also produce and provide daily dosage immune support supplement ArtemiC(TM) Support, for daily use.
-- Swiss PharmaCan AG to exclusively distribute ArtemiC(TM) Rescue and ArtemiC(TM) Support worldwide(1) , with specific focus on countries currently reporting high numbers of COVID-19
-- The Company has sufficient manufacturing capacity at its production facility in Slovenia to produce commercial scale batches of ArtemiC(TM) Rescue and ArtemiC(TM) Support for distribution by Swiss PharmaCan AG
-- Additionally, Swiss PharmaCan AG has already secured agreement with Relay Medical Corp. (CSE: RELA) and Glow LifeTech Ltd. for exclusive North American and Caribbean sales and distribution rights for ArtemiC(TM) Rescue and ArtemiC(TM)Prevention
-- Swiss PharmaCan AG has also secured ONASIS Holdings Corp. (OTC: ONSS) as Master Distributor of ArtemiC(TM) Rescue and ArtemiC(TM) Prevention through their channels in USA and Central America.
MGC Pharmaceuticals Ltd (ASX, LSE: MXC, 'MGC Pharma' or 'the Company'), a European based bio-pharma company specialising in the production and development of phytocannabinoid-derived medicines, is pleased to announce it has signed an exclusive master supply and distribution agreement (the ' Agreemen t') with leading European nutraceutical producer and distributor, Swiss PharmaCan AG (" SPC ") for the sale and distribution of the Company's food supplement ArtemiC(TM) Product line. ArtemiC(TM) incorporates SPC's MyCell Enhanced(TM) delivery system technology.
ArtemiC(TM) is a clinically tested food supplement (nutraceutical, dietary supplement, natural health product) containing four natural based ingredients consisting of Artemisinin, Curcumin, Boswellia serrata, and Vitamin C.
This Agreement represents the first sales of ArtemiC(TM) as a food grade product and provides MGC Pharma direct access to the large