Stocks of the Hour: MGC Pharmaceuticals, Vitura Health, Labyrinth Resources

MGC Pharmaceuticals (ASX:MXC) announced that their Malta production facility has been granted formal EU-Good Manufacturing Practice (GMP) certification. In response, Roby Zomer, Managing Director and CEO commented, “[this] further enhances the MGC production capabilities for its future expansion, guaranteeing its ability to supply large volumes of its products to its customers and distribution partners.” Shares are trading 12.5 per cent higher at 0.9 cents.

Vitura Health (ASX:VIT) and Canadian-based PharmAla Biotech (CSE:MDMA) have established a 50:50 joint venture, called Cortexa, which aims to become the leading supplier of psychedelics for research and therapeutic use in Australia. In announcing the Joint Venture, Vitura CEO, Rodney Cocks, said: “Vitura is proud that one of the world’s leading players in the Psychedelic space has joined forces with us with the objective to establish Cortexa as the leading MDMA and Psilocybin supplier in the Australian market.” Shares are trading 13.51 per cent higher at 42 cents.

Labyrinth Resources (ASX:LRL) announced very highgrade assays from its first drilling program at its 51% owned Comet Vale gold project in WA. Labyrinth Chief Executive Matt Nixon said: “The mineralisation is open in all directions and we are very eager to test for down dip extensions in the next round of drilling.” Shares are trading 16.67 per cent higher at 1.4 cents.
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Source: Finance News Network