MGC Pharmaceuticals Ltd provide an update that it has now been given approval by Maltese Government for full medical cannabis production and cultivation facility in Malta and to construct a 4,000m2 stateof-the-art medical cannabis production and cultivation facility.
MXC as at today, is one of five companies, and the only company from Australia, to be awarded a full medical cannabis production and cultivation contract. This is following the recent approval by the government agency Malta Enterprise Corporation of the Company’s Medical Cannabis Project and Business Plan submission.
Under the agreement, the Company will be permitted to produce all THC and CBD strains of medical cannabis, expanding the commercial opportunity for MXC to develop additional medical cannabis pharmaceutical products into key European and global markets, which derive benefits from THC in addition to CBD.
The Company will be required to comply with all Maltese medical cannabis licences and permits to operate the facility, as required in the normal course of business for all medical cannabis operations globally, which are subject to final legislative changes, which once passed, will permit the cultivation, production and commercialisation of medical cannabis in Malta.
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