MGC Pharma Enters Australian Market With $1.4M Purchase Of Medicinal Cannabis Clinic

Bio-pharma company MGC Pharmaceuticals (ASX: MXC) (OTCPK: MGCLF) has purchased Medicinal Cannabis Clinic (MCC) for $1.4 million.

MGC inked the deal — $1 million worth of its shares and $400,000 in cash — with MCC’s parent company Cannvalate to fully-acquire the Australia-based medicinal cannabis company.

Under the deal, MGC will also obtain MCC’s doctor and patient network.

MGC set up a new subsidiary to control MCC’s assets, data, and intellectual property.

MGC co-founder …

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