News Articles for Argent BioPharma

You might be forgiven for thinking commodities such as gold and Lithium are hot right now but MGC Pharma were literally knocked over in the rush during their recent medical cannabis capital raising. They went to market for just $3.5m at 4.4c a share but received $11m worth of bids into their book which was managed by Sanlam Private Wealth Pty Ltd.

ASX listed medical cannabis company MGC Pharma has spread its wings into the Czech Republic after inking a deal to acquire Panax Pharma, a company that holds a medical cannabis breeding license in that country. Most licenses restrict the amount of THC in the plant however Panax comes with a license that is considerably more generous with regard to THC, potentially opening up new opportunities for MGC Pharma.

The developer of a gun safety device has become the fifth Israeli company in the technology or medical cannabis sectors to pursue a listing on the ASX through either an IPO or a reverse takeover of a moribund WA mining company.

Australia's fledgling medicinal cannabis market continues to gain momentum, with MGC Pharmaceuticals planning an entry.

The market appetite for backdoor listings of tech stocks continues unabated, with Magnolia Resources securing $7 million in funding commitments and Potash Minerals becoming the fifth exploration company from Western Australia to head down the tech path this month.

MGC Global, which is currently the takeover target of Perth-based Erin Resources, has signed a $60 million agreement to sell its cosmetic cannabis product to a European cosmetic production company.

A wearable technology company founded by Perth entrepreneur Justin Miller and an Israeli medical cannabis company are the latest businesses planning to join the rush of backdoor listings on the ASX, though the news is not all positive with Voyager Global Group becoming the seventh company forced to cancel an announced deal in the past 18 months.