The Directors present their report on MGC Pharmaceuticals
Limited (“the Company”) and its controlled entities (“the Group”)
for the nancial year ended 30 June 2018.
The names of Directors in ofce at any time during
or since the end of the year are:
Directors have been in ofce since the start of the nancial year
to the date of this report.
Joint Company Secretaries
Rachel Kerr held the position of Company Secretary for the full
nancial year. On 1 January 2018, Kate Sainty was appointed
Joint Company Secretary & both retain their role as Joint
Company Secretary to the date of this report.
Principal Activities
The Company is a European based BioPharma company
with many years of technical, clinical and commercial
experience in the medical cannabis industry. The Company’s
founders are key gures in the global medical cannabis
industry, and the core business strategy is to develop and
supply high quality Cannbinoids based pharmaceutical
products for the growing demand in the medical
markets in Europe, Australasia and North America.
Operating Results
The consolidated loss of the Group from continued operations
amounted to $8,990,470 (2017: $8,502,025).
Dividends Paid or Recommended
No dividends have been paid or declared for payment during, or
since, the end of the nancial year.
Signicant Changes in State of Affairs
In the opinion of the directors, there have been no signicant
changes to the state of affairs of the Group during the year other
than those disclosed elsewhere in the nancial report or the
notes thereto.
Directors Report