March 2023 Quarterly Activities and Cash Flow

Consolidated statement of cash flows	Current quarter $A'000	Year to date (9 months) $A'000
1.	Cash flows from operating activities	567	3,388
1.1	Receipts from customers
1.2	Payments for	(328)	(1,564)
	(a) research and development
	(b) product manufacturing and operating costs i) cost of sales / inventory	(38)	(2,098)
	ii) operating costs	-	(2)
	(c) advertising and marketing	(185)	(510)
	(d) leased assets	-	-
	(e) staff costs	(1,310)	(4,362)
	(f) administration and corporate costs (including product registrations)	(1,146)	(3,993)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	-	44
1.5	Interest and other costs of finance paid	-	(0)
1.6	Income taxes paid	-	(2)
1.7	Government grants and tax incentives	-	1,160
1.8	Other (GST/VAT refund)	-	619
1.9	Net cash from / (used in) operating activities	(2,440)	(7,320)

2.	Cash flows from investing activities	Current quarter $A'000	Year to date (9 months) $A'000
2.1	Payments to acquire:
	(a) entities	-	-
	(b) businesses	-	-
	(c) property, plant and equipment	(20)	(723)
	(d) investments	-	-
	(e) intellectual property (f) other non-current assets	- -	- -
2.2	Proceeds from disposal of:	-	-
	(a) entities
	(b) businesses	-	-
	(c) property, plant and equipment	-	-
	(d) investments	-	-
	(e) intellectual property (f) other non-current assets	- -	- -
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other (cash acquired through assets acquisition)	-	-
2.6	Net cash from / (used in) investing activities	(20)	(723)

3.	Cash flows from financing activities	Current quarter $A'000	Year to date (9 months) $A'000
3.1	Proceeds from issues of equity securities (excluding convertible debt securities)	-	-
3.2	Proceeds from issue of convertible debt securities	1,582	6,948
3.3	Proceeds from exercise of options	-	-
3.4	Transaction costs related to issues of equity securities or convertible debt securities	-	-
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans and borrowings	-	-
3.8	Dividends paid	-	-
3.9	Other (loan entity which where control was gained after quarter-end)	-	-
3.10	Net cash from / (used in) financing activities	1,582	6,948

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Name of entity
MGC PHARMACEUTICALS LTD
ABN		Quarter ended ("current quarter")
30 116 800 269		31 March 2023

4.	Net increase / (decrease) in cash and cash equivalents for the period	Current quarter $A'000	Year to date (9 months) $A'000
4.1	Cash and cash equivalents at beginning of period	1,134	1,886
4.2	Net cash from / (used in) operating activities (item 1.9 above)	(2,440)	(7,320)
4.3	Net cash from / (used in) investing activities (item 2.6 above)	(20)	(723)
4.4	Net cash from / (used in) financing activities (item 3.10 above)	1,582	6,948
4.5	Effect of movement in exchange rates on cash held	60	(476)
4.6	Cash and cash equivalents at end of quarter	315	315

5.	Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A'000	Previous quarter $A'000
5.1	Bank balances	290	1,077
5.2	Call deposits	26	56
5.3	Bank overdrafts	-	-
5.4	Other (provide details)	-	-
5.5	Cash and cash equivalents at end of quarter (should equal item 4.6 above)	315	1,134

6.	Payments to related parties of the entity and their associates	Current quarter $A'000
6.1	Aggregate amount of payments to related parties and their associates included in item 1	172
6.2	Aggregate amount of payments to related parties and their associates included in item 2	-
	Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.

7.	Financing facilities available Note: the term "facility' includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity.	Total facility amount at quarter end $A'000	Amount drawn at quarter end $A'000
7.1	Loan facilities	-	-
7.2	Credit standby arrangements	-	-
7.3	Other (please specify)	14,600	6,948
7.4	Total financing facilities	14,600	6,948
7.5	Unused financing facilities available at quarter end	-	7,652
7.6	Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.
$14.6M Convertible note facility with Mercer Street Opportunity Fund LLC. Refer to ASX announcement on 29 July 2022 for further information.

Financing facilities available
Note: the term "facility' includes all forms of financing arrangements available to the entity.

Compliance statement

Companies

UK 100

Latest directors dealings

8.	Estimated cash available for future operating activities	$A'000
8.1	Net cash from / (used in) operating activities (Item 1.9)	(2,440)
8.2	Cash and cash equivalents at quarter end (Item 4.6)	315
8.3	Unused finance facilities available at quarter end (Item 7.5)	7,652
8.4	Total available funding (Item 8.2 + Item 8.3)	7,967
8.5	Estimated quarters of funding available (Item 8.4 divided by Item 8.1)	3.3
	Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as "N/A". Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5.
8.6	If Item 8.5 is less than 2 quarters, please provide answers to the following questions:
	1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?
	Answer: N/A
	2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

	Answer: N/A
	3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
	Answer: N/A
	Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered.