April 28 (Reuters) - MGC Pharmaceuticals Ltd MXC.AX :
* SECURES COMMITMENTS FOR $3.5M PLACEMENT
* TO ISSUE ABOUT 129.6 MILLION NEW FULLY PAID ORDINARY SHARES AT $0.027 PER NEW SHARE
* PROCEEDS OF PLACEMENT WILL BE APPLIED TOWARDS PRODUCTION FOR CO'S CANNABINOID- BASED MEDICINES