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- MGC Pharmaceuticals (MXC) places its shares in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until December 2 or when more details are released, whichever occurs first
- On November 25, MGC Pharma completed production of the €650,000 (A$1.02 million) ArtemiC order from Swiss PharmaCan
- ArtemiC is MGC’s natural, immune-modulation formula that is made up of vitamin C and herbal extracts used to treat anti-inflammatory illnesses
- Shares in MGC Pharma last traded at 4.1 cents on November 29
MGC Pharmaceuticals (MXC) has placed its shares in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until December 2 or when more details are released, whichever occurs first.
MGC Pharma is yet to disclose how much it intends to raise or what it will use the money for once received.
On November 25, MGC Pharma completed production of the €650,000 (A$1.02 million) ArtemiC order from Swiss PharmaCan.
ArtemiC is made up of artemisinin, a drug from a fern-like plant that is used against malaria, and curcumin, a chemical that aids in anti-inflammatory and antioxidants.
It is then mixed with vitamin C and Boswell serrata, a herbal extract used to treat inflammatory illnesses.
Additional ArtemiC orders are set to continue following the grant of the Certificate of Free Trade in Germany and the European Union in September 2021.
Shares in MGC Pharma last traded at 4.1 cents on November 29. The company has a $99.33 million market cap.
