MGC Pharmaceuticals Ltd.

Compliance Filing of UK subsidiary FY21 Accounts

27 May 2022

ASX, LSE: MXC

MGC Pharmaceuticals Ltd (ASX, LSE: MXC, 'MGC Pharma' or 'the Company'), would like to advise the market on the status of the filing of its MGC Pharma UK subsidiary accounts to year end 30 June 2021 at Companies House, following the completion and lodgement of the Group's audited accounts on 30 September 2021.

Through the appointment and handover process of the Company's new CFO, there was an administrative oversight in the filing of Company's subsidiary MGC Pharma UK Ltd 2021 accounts at Companies House. This has now been recently identified by the new Chief Financial Officer as part of a compliance review for all the Group's operating entities and local compliance filings, and is now in the process of being rectified with Companies House for our UK subsidiary, which will be completed week commencing 30^th May 2022.

The Company's 2021 Full Year Audited Annual Report and Accounts can be viewed on the company's website:

https://mgcpharma.eu/investor-centre/reports/

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About MGC Pharma

MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based bio-pharma company developing and supplying affordable standardised phytomedicines to patients globally.  The Company's founders were key figures in the global medical cannabis industry and the core business strategy is to develop and supply high quality phytocannabinoid derived medicines for the growing demand in the medical markets in Europe, North America and Australasia. MGC Pharma has a robust product offering targeting two widespread medical conditions - Epilepsy and Dementia - and has further products in the development pipeline. 

Employing its 'Nature to Medicine' strategy, MGC Pharma has partnered with renowned institutions and academia to optimise cultivation and the development of targeted phytocannabinoid derived medicines products prior to production in the Company's EU-GMP Certified manufacturing facility.  

MGC Pharma has a number of research collaborations with world renowned academic institutions, and including recent research highlighting the positive impact of using specific phytocannabinoid formulations developed by MGC Pharma in the treatment of glioblastoma, the most aggressive and so far therapeutically resistant primary brain tumour.

MGC Pharma has a growing patient base in Australia, the UK, Brazil and Ireland and has a global distribution footprint via an extensive network of commercial partners meaning that it is poised to supply the global market. 

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