Maltese companies acquire manufacturing facility for medicinal cannabis production

Tista' taqra bil- Malti.

The Maltese companies ‘MPXI Malta’ and ‘Bortex Group’ have completed an acquisition of a cannabis distributor which will allow them to produce, package and distribute medicinal cannabis products.

The two companies obtained the last shares of ‘Alphafarma’ Operations from the vendor Alpha Farma Limited, as well as the lease for a ‘GMP ready’ facility in Mriehel. This also includes the acquiring of its manufacturing certification for the value of €1.5 million.

In addition to the purchase and acquiring of the company, 1m ‘MPXI Shares’ have also been issued along with 300,000 common share purchase warrants. These are currently valued at $0.63 per MPXI Share for a five year period.

Malta Enterprise has also issued MPXI Malta a letter of intent which will allow them import, produce, sell and distribute a number of medicinal cannabis products derivatives within Malta and the European Union market. The company will then be able proceed following its completion of a ‘Malta Licence’. This document would be issued from the Malta Medicines Authority after the company completes a EU-GMP certificate for a cannabis manufacturing facility.

MPXI is expected to invest €3m in the facility and the manufacturing and packaging equipment as well as the company’s working capital.

Bortex is understood to be providing support and oversight to MPXI, specifically towards getting the manufacturing facility set up using its local expertise. Bortex has received 836,375 MPXI Shares.

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