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MGC Pharmaceuticals is developing cannabis-based pharmaceutical products, initially in Australia and Europe. It has cannabis-growing operations in Europe and plans to supply cannabis-based active pharmaceutical ingredients (API), as well as developing registered pharmaceutical products for refractory epilepsy and dementia. MGC has signed a binding term sheet for the sale of its MGC Derma cannabis-based cosmetics business to Cannaglobal for up to C$15m (A$16m). We arrive at an initial valuation of A$140m or A$0.11 per share.

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