Gowling WLG's corporate team has advised Turner Pope Investments (TPI) Limited, as the broker, on MGC Pharmaceuticals Ltd's listing on the Main Market of the London Stock Exchange plc (LSE), raising £6.5 million.
MGC Pharmaceuticals Ltd is a European based and Australian listed bio-pharma company, specialising in the production and development of phytocannabinoid-derived medicines. The listing will make MGC the first medicinal-cannabis company to be admitted to the Main Market of the LSE.
Turner Pope is a boutique stockbroker, providing investment services to corporate and high net worth private clients. Premier Miton and Chelverton Asset Management participated in the fundraising.
Gowling WLG's legal advisory team comprised of Samantha Myers (Corporate), Charles Bond (Corporate) Ian Mason (FS Regulation) and John Cooper (Public Law & Regulation).
Samantha Myers, head of Gowling WLG's UK Cannabis Group and who led the transaction, said: "We are delighted to have been involved in the first Main Market listing of a medicinal-cannabis company, advising Turner Pope on the corporate and regulatory aspects of this momentous transaction. The statement released by the FCA last September was welcome news and we look forward to seeing more cannabis-related companies come to market ".
MGC's listing is live on the LSE as of 9 February 2021.
Gowling WLG has a leading team of experts across Canada and the UK, focused on helping a wide-range of cannabis industry participants to manage risk and find success across a number of fronts. The transatlantic team is currently acting on a number of cannabis related mandates.