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IN BRIEF: MGC Pharma receives USD550,000 more from Mercer Street

23rd Sep 2022 13:43

MGC Pharmaceuticals Ltd - Perth, Australia-based medicinal cannabis company - Receives a further USD550,000 under the USD10 million financing agreement signed with Mercer Street Global Opportunity Fund LLC, a fund managed by Mercer Street Capital Partner. Under the terms of the agreement, announced in July, MGC Pharma will now issue Mercer 605,000 convertible notes with a face value of USD1.00 each. The funds received will be used to fund MGC's ongoing operations such as clinical trials.

Current stock price: 0.89 pence

12-month change: down 72%

By Chris Dorrell; [email protected]

Copyright 2022 Alliance News Limited. All Rights Reserved.

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