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Medlab Clinical (ASX:MDC) - CEO, Dr Sean Hall - The Market Herald
CEO, Dr Sean Hall
Source: Medlab
  • Medicinal cannabis company Medlab Clinical (MDC) has completed the first order for its newly developed hybrid cannabinoid, Mg Optima Relax + CBD
  • This order consists of 5000 units and will be shipped to nutritional supplement company Cultech in the United Kingdom
  • Medlab first executed an agreement with Cultech in December last year to expand into the U.K. market
  • This product contains magnesium and CBD with magnesium known to reduce stress and restless legs, and onset sleep
  • The combination of both helps reduce these symptoms even more
  • At market close Medlab's share price is up 7.14 per cent and shares are trading for 15 cents each

Medicinal cannabis company Medlab Clinical (MDC) has completed the first order for its newly developed hybrid cannabinoid, Mg Optima Relax + CBD.

This order, which consists of 5000 units, will be shipped to nutritional supplement company Cultech in the United Kingdom.

In December 2019, Medlab executed an exclusive distribution agreement with Cultech to expand into the U.K.

This agreement concerned two of Medlab's products, ORSBiotic, a patented probiotic rehydration formulation, and NanoCBD, a new cannabinoid product containing magnesium (mg) and CBD.

Magnesium is known to reduce stress and restless legs, and onset sleep. The combination of magnesium and CBD, as seen in Mg Optima Relax + CBD, helps reduce these symptoms more.

"This is our first meaningful export for this trade agreement, and I see this as a start of great potential as we develop U.K. markets," CEO Dr Sean Hall commented.

"This product is not for Australia because of our laws relating CBD use, but primed for other global legal markets. We would envisage a more global play regarding this product, as most Westerners are well versed in the benefits of magnesium, and hence it's relatively easy to understand the synergistic benefits of combining magnesium and CBD," he said.

At market close Medlab's share price is up 7.14 per cent and shares are trading for 15 cents each in a $37.68 million market cap.


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