Issue of Shares

MGC Pharmaceuticals Ltd.

Issue of Shares

8 December 2021

ASX, LSE: MXC

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') advises that it has released the following announcements on the ASX's Market Announcement Platform today in relation the issue of securities in MGC Pharma.

1. Appendix 2A - Application for quotation of securities - Capital Raising

MGC Pharma has requested quotation on the ASX of 275,000,000 MGC Pharma shares issued to investors under the UK Placing announced on 30 November 2021.

A copy of the Announcement can be found at the following URL:

https://www.asx.com.au/asxpdf/20211208/pdf/453yd9g6rhhr80.pdf

2. Appendix 2A - Application for quotation of securities - Extension of Convertible Notes maturity date

750,000 MGC Pharma shares were issued under a previously announced agreement to extend the maturity date of A$2,100,000 final tranche Convertible Notes (Notes) held by Mercer Global Opportunity Fund LLC (Mercer), by 12 months, to 24 November 2022.

A copy of the Announcement can be found at the following URL:

https://www.asx.com.au/asxpdf/20211208/pdf/453ydfchtt2z37.pdf

-Ends-

Authorised for release by the Chairman, for further information please contact:

About MGC Pharma

MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based bio-pharma company developing and supplying affordable standardised phytomedicines to patients globally. The Company's founders were key figures in the global medical cannabis industry and the core business strategy is to develop and supply high quality phytocannabinoid derived medicines for the growing demand in the medical markets in Europe, North America and Australasia. MGC Pharma has a robust product offering targeting two widespread medical conditions - epilepsy and dementia - and has further products in the development pipeline.

Employing its 'Nature to Medicine' strategy, MGC Pharma has partnered with renowned institutions and academia to optimise cultivation and the development of targeted phytocannabinoid derived medicines products prior to production in the Company's EU-GMP Certified manufacturing facility.

MGC Pharma has a number of research collaborations with world renowned academic institutions, and including recent research highlighting the positive impact of using specific phytocannabinoid formulations developed by MGC Pharma in the treatment of glioblastoma, the most aggressive and so far therapeutically resistant primary brain tumour.

MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland and has a global distribution footprint via an extensive network of commercial partners meaning that it is poised to supply the global market.

Follow us through our social media channels:

Twitter: @MGC_Pharma

Facebook: @mgcpharmaceuticals

LinkedIn: MGC Pharmaceuticals Ltd.

Instagram: @mgc_pharma