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CannaGlobal Acquires MGC Derma

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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.