CannaGlobal Acquires MGC Derma

Cannabis-based cosmetics business, MGC Derma has been acquired by Canadian investment company, CannaGlobal. 

Prior to the acquisition, MGC Derma was the part of the MGC Pharmace­uticals company. 

According to Reuters, the total consideration for the sale is a 10% equity interest in CannaGlobal and an exclusive five-year supply agreement.