MGC Pharmaceuticals is set to become the first medicinal cannabis company to be listed on the London Stock Exchange (LSE), following a strongly supported £6.5 million (circa A$12 million) share placement.

Co-founder and managing director of MGC Pharma Roby Zomer said: “This is something we have been working towards for over 18 months, realising our strategic ambition to be closer to our operations in Europe with greater access to key UK and European strategic investors.”

He added the funds will primarily be used to support the company’s growth ambitions and clinical research programs for its leading products.

The company will maintain a dual LSE and ASX listing.

Prior to launching Cannabiz, Martin was co-founder and CEO of Asia-Pac’s leading B2B media and marketing information brand Mumbrella, overseeing its sale to Diversified Communications in 2017. A journalist...