MGC Pharmaceuticals - Corporate Update - Board and UK Adviser Changes

Argent BioPharma

30/05/2023 07:01

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RNS Number : 9890A  MGC Pharmaceuticals Limited  30 May 2023

 

Corporate Update - Board and UK Adviser Changes

30 May 2023

ASX/LSE: MXC

 

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') a European based
pharmaceutical company specialising in the production and development of plant
inspired medicines, announces the following changes to the Board and its lead
UK advisers, as a further development in its pharmaceutical business plan.

 

Mr Brett Mitchell and Mr Nativ Segev, will step down from the Board,
reflecting the changing direction of the Company as MGC Pharmaceuticals moves
away from the medicinal cannabis sector toward a more pharma-focused business
strategy effective 1 June 2023. Dr Stephen Parker, currently Non-Executive
Director of the Company, will replace Mr Mitchell as interim Non-Executive
Chair.  The Company will appoint a new Australian non-executive director
ensuring compliance with section 201A(2) of the Corporations Act and the ASX
Listing Rules.

 

Oberon Capital has been appointed as joint broker in the UK with immediate
effect alongside Peterhouse Capital.

 

IFC Advisory has been appointed as the Company's new UK-based Public and
Investor Relations advisers. The IFC team have in-depth experience in the
pharmaceutical sector and will support MGC in its stated forward trajectory.

 

Roby Zomer, Managing Director and CEO of MGC Pharmaceuticals, commented: "The
changes to our key advisers reflect the ongoing work we have undertaken in
advancing our pharmaceutical strategy both in the UK and in Australia."

 

"I would like to thank founding Board members, Nativ and Brett, for their
efforts and support as we have grown the Company over the past 8 years, and we
will continue to value Brett's insight in his new role as an advisor to the
Board."

-Ends-

Authorised for release by the board of directors, for further information
please contact:

 MGC Pharmaceuticals Ltd                                                     MGC Pharmaceuticals Ltd

 Roby Zomer                                                                  Arron Canicais / Rowan Harland

 CEO & Managing Director                                                     Joint Company Secretaries

 +61 8 6382 3390                                                             +61 8 6382 3390

 info@mgcpharma.co.uk (mailto:info@mgcpharma.co.uk)                          info@mgcpharma.co.uk (mailto:info@mgcpharma.co.uk)
 UK Brokers                                                                  UK Brokers

 Peterhouse Capital                                                          Oberon Capital

 Charles Goodfellow / Lucy Williams / Duncan Vasey                           Aimee McCusker / Adam Pollock

 +44 207 469 0930                                                            +44 203 179 5300

 cg@peterhousecap.com (mailto:cg@peterhousecap.com) / lw@peterhousecap.com   aimeemccusker@oberoninvestments.com
 (mailto:lw@peterhousecap.com)                                               (mailto:aimeemccusker@oberoninvestments.com) adampollock@oberoninvestments.com
                                                                             (mailto:adampollock@oberoninvestments.com)
 UK IR/PR Advisers

 IFC Advisory

 Graham Herring / Tim Metcalfe / Zach Cohen

 +44 203 934 6630

 mgcpharma@investor-focus.co.uk (mailto:mgcpharma@investor-focus.co.uk)

About MGC Pharma

MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based
pharmaceutical company, focused on developing and supplying accessible and
ethically produced plant inspired medicines, combining in-house research with
innovative technologies, with the goal of finding or producing treatments to
for unmet medical conditions.

 

The Company's founders and executives are key figures in the global
pharmaceuticals industry and the core business strategy is to develop and
supply high quality plant inspired medicines for the growing demand in the
medical markets in Europe, North America and Australasia.

 

MGC Pharma has a robust development pipeline targeting two widespread medical
conditions and has further products under development.

 

MGC Pharma has partnered with renowned institutions and academia to optimise
the development of targeted plant inspired medicines, to be produced in the
Company's EU-GMP Certified manufacturing facilities.

 

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

 

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