MGC Pharmaceuticals Limited announced private placement of 275,000,000 common shares at a price of ?0.02 per share for gross proceeds of ?5,500,000 on November 29, 2021. The transaction will include participation from institutional and family office investors from the UK and USA including a US based fund, comprising both new and existing shareholders. The investors will acquire 10% stake in the company. The placement funds will be received by the company on December 3, 2021 and the company will settle the placement shares on December 6, 2021.