Said it before will say it again..there is no valuation which is a joke .I even contacted ASX regarding this and that was more of a joke.
ASX would like to thank you for making the time and effort to bring these matters to its attention. These types of communications are an important source of intelligence for ASX in performing its role of monitoring and enforcing compliance with the ASX Listing Rules.
On 13 November 2018, MXC released an announcement entitled “Definitive Agreement signed for sale of MGC Derma” which summarised the transaction. One of the amendments to the transaction disclosed in that announcement is that, contrary to MXC’s statements in the initial announcement released on 27 September 2018, CannaGlobal is no longer seeking to be listed on a Canadian exchange, and therefore will remain a private company. Accordingly, CannaGlobal is not valued via the same methodology value as it would have been had it been listed. You will need to review MXC’s next accounts for the period 30 June 2019 for the value of the 10% equity interest in CannaGlobal.
MXC Price at posting:
3.9¢ Sentiment: None Disclosure: Held
