MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC), a specialist in plant-inspired medicines, has announced changes to its board and UK advisers, reflecting a shift in its business plan.
Effective 1 June, chairman Brett Mitchell and non-executive director Nativ Segev will step down as the company moves its focus away from the medicinal cannabis sector towards a more 'pharmaceutical-centric' business strategy.
Dr Stephen Parker, currently a non-executive director, will step up to become interim chair. In accordance with regulatory requirements, a new Australian non-executive director will also be appointed.
Adding to these changes, Oberon Capital has been named joint broker in the UK, effective immediately, operating alongside Peterhouse Capital.
In addition, the group has enlisted IFC Advisory as its new UK-based public and investor relations advisers.
Managing director Roby Zomer said: "The changes to our key advisers reflect the ongoing work we have undertaken in advancing our pharmaceutical strategy both in the UK and in Australia.
"I would like to thank founding board members, Nativ and Brett, for their efforts and support as we have grown the company over the past eight years, and we will continue to value Brett's insight in his new role as an advisor to the board."