MGC Pharmaceuticals Ltd. (`MGC Pharma' or `the Company') announced that it has received an import approval permit for the importation of ArtemiCTM Rescue into India. ArtemiCTM Rescue is MGC Pharma's proprietary nutraceutical, and part of its ArtemiCTM range of products which has been proven in a Phase II Clinical Trial to help alleviate symptoms associated with COVID-19. The nutraceutical, developed by MGC Pharma and incorporating distribution partner, Swiss PharmaCan AG's (`SPC'), award winning MyCellTM technology, has undergone a small batch trial import, and has passed all required regulatory motions to enable the sale of the product in India, with the grant of a Food Safety and Standards Authority of India license.

Additionally, it has passed the Indian Customs' import requirements, resulting in the approval for the sale of ArtemiCTM Rescue across India. This approval will further expand the global footprint for the sale and distribution of ArtemiCTM Rescue. MGC Pharma received approval for the import permit of ArtemiCTM Rescue with the assistance of a local partner, Carino Water Solutions & Energy (`Carino').

With India's population of approximately 1.38 billion, and soaring COVID-19 infections, the receipt of these approvals is a major step forward in the development of global markets for the sale of ArtemiCTM Rescue. MGC Pharma, SPC, and Carino will be continuing to seek approvals for ArtemiCTM Rescue as a nutraceutical in a number of countries in order to provide support to COVID-19 patients by alleviating their symptoms. In conjunction with this, MGC Pharma is making progress on the long-term development of its Investigational Medicinal Product, CimetrATM, through ongoing clinical studies and applications for Emergency Use Authorisation in India, and other National Regulatory and Medical Agencies currently underway, including seeking FDA approval in the United States. In September 2021, MGC Pharma announced that it was seeking Emergency Use Authorisation in India for CimetrATM for the treatment of patients with COVID-19.

This process is ongoing, with a further patient study required to be conducted in India to confirm the efficacy of the product for local patients currently underway. ArtemiCTM Rescue is a clinically tested food supplement (nutraceutical, dietary supplement, natural health product) containing four natural based ingredients consisting of Artemisinin, Curcumin, Boswellia serrata, and Vitamin C. In a Phase II double-blind, placebo-controlled Clinical Trial on 50 patients with COVID-19, ArtemiCTM Rescue demonstrated the following advantages: A full safety and efficacy profile with no drug-adverse events; The ability to prevent deterioration of COVID-19 patients and achieve faster clinical improvement; The ability to assist in reducing the pressure on the medical system and support coping with hospitalized patients; The ability to reduce symptoms and pain associated with COVID-19; and The versatility to be used in the community as well as in hospitals.