MGC Pharmaceuticals : Proposed issue of Securities - MXC

Proposed issue of securities

Announcement Summary

Entity name

MGC PHARMACEUTICALS LTD

Announcement Type

New announcement

Date of this announcement

Thursday April 8, 2021

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
n/a	Unlisted share options exercisable at GBP0.01475 each on	26,440,678
	or before 31 March 2023
n/a	Performance Rights	64,200,000
Proposed +issue date
Wednesday June 9, 2021

Refer to next page for full details of the announcement

Proposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

MGC PHARMACEUTICALS LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2	Registered Number Type	Registration Number
ACN	116800269
1.3	ASX issuer code
MXC

1. The announcement is New announcement
2. Date of this announcement

Thursday April 8, 2021

1.6 The Proposed issue is:

A placement or other type of issue

Proposed issue of securities

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Proposed issue of securities

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 - Are any of the following approvals required for the placement or other type of issue?

+Security holder approval

Court approval

Lodgement of court order with +ASIC

ACCC approval

FIRB approval

Another approval/condition external to the entity

Yes

7A.1a Conditions
Approval/Condition	Date for determination	Is the date estimated or	** Approval
+Security holder approval	Wednesday June 9, 2021	actual?	received/condition met?
Estimated

Comments

57m Performance rights to be issued in accordance with ASX announcement dated 09 April 2021 and 7.2m Performance rights as per ASX announcement dated 25 February 2021.

Approval/Condition	Date for determination	Is the date estimated or
+Security holder approval	Wednesday March 31, 2021	actual?
Actual
Comments

• Approval received/condition met?

Yes

Options to Turner Pope as per Resolution 4 approved at the General Meeting dated 31 March 2021

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?

New class

Will the proposed issue of this +security include an offer of attaching +securities?

No

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

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Proposed issue of securities

Have you received confirmation from		Will the entity be seeking quotation
ASX that the terms of the proposed		of the 'new' class of +securities on
+securities are appropriate and		ASX?
equitable under listing rule 6.1?		No
No
ASX +security code		+Security description
New class-code to be confirmed		Unlisted share options exercisable at GBP0.01475 each on or before 31 March
		2023
+Security type
Options

Number of +securities proposed to be issued

26,440,678

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?

No

Please describe the consideration being provided for the +securities

In lieu of brokering services relating to LSE Placement.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date?

Yes

Options details
+Security currency	Exercise price	Expiry date
GBP - Pound Sterling	GBP 0.0147	Friday March 31, 2023

Details of the type of +security that will be issued if the option is exercised

MXC : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

26440678

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02346947-6A1022098?access_token=8 3ff96335c2d45a094df02a206a39ff4

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Proposed issue of securities

Is the proposed security a 'New	Will the proposed issue of this
class' (+securities in a class that is	+security include an offer of
not yet quoted or recorded by ASX)	attaching +securities?
or an 'Existing class' (additional	No
securities in a class that is already
quoted or recorded by ASX)?
New class

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?

No

ASX +security code

New class-code to be confirmed

Will the entity be seeking quotation of the 'new' class of +securities on ASX?

No

+Security description

Performance Rights

+Security type

Performance options/rights

Number of +securities proposed to be issued

64,200,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

Performance rights to be issued in accordance with ASX announcement dated 09 April 2021.

Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities

Will all the +securities issued in this class rank equally in all respects from their issue date?

Yes

Performance options/rights details
+Security currency	Exercise price	Expiry date
AUD - Australian Dollar	AUD 0.0000	Wednesday April 1, 2026

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