You are here

Home 🌿 Medical Cannabis News 🌿 MGC Pharma Executes Czech Republic Medical Cannabis Deal 🌿

MGC Pharma Executes Czech Republic Medical Cannabis Deal

Warning message

The subscription service is currently unavailable. Please try again later.
Submitted by Marijuana News on Thu, 12/15/2016 - 08:53

A SX-listed MGC Pharmaceuticals has executed a new and materially better binding heads of agreement to acquire Czech-based medical cannabis company Panax Pharma in a move likely to be a big boost to MGC’s production and research capabilities.

In an update to the market on Thursday, MGC said that following due diligence it had executed the revised acquisition agreement, which would see the Perth-based company acquire up to 100 per cent of Panax –a highly connected player in the Czech Republic’s medicinal cannabis industry.

Importantly, Panax holds research access rights to the Czech Republic’s Institution of Experimental Botany of Academy of Sciences, which has a cannabis breeding licence from the Ministry of Health in the Czech Republic. The new deal gives MGC Pharma access to these facilities for its medical cannabis research.

The acquisition, which enables MGC to commence research operations in January 2017, also means the company will likely be able to...

READ MORE: 
Business News
e-mail icon Facebook icon Twitter icon LinkedIn icon Reddit icon
Rate this article: 
Region: 
Australia
Czech Republic
Europe

This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.


420 Intel is Your Source for Marijuana News

420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.

420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.

Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.

You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.