BUZZ-Australia's MGC Pharma rises; regulator approves cannabis-based cosmetic

Sun May 29, 2016 9:20pm EDT
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** Medical and cosmetics cannabis company MGC Pharmaceuticals Ltd rises as much as 9 pct to A$0.060

** Company gets Health Canada's approval for its MGC Derma Anti-Aging line of cannabidiol-based cosmetics products

** Company says it is negotiating distribution agreements in Canada

** Adds it is awaiting approval from Australian Therapeutic Goods Administration for the MGC Derma Anti-Aging line

** Stock has gained 111.5 pct this year as of Friday's close (Reuters Messaging: