The attack-minded 20-year-old moves to Meadow Lane on a temporary basis in order to experience first-team football.
McGregor told Magpie Player: "It's a great feeling, I'm really excited to come and play here.
"I want to go and show that I can play at a good standard, League One is a great league and hopefully the manager will be watching back home.
"I hope that I can impress and get my name known down here as well."
McGregor scored for the Hoops in a pre-season friendly against Brentford and he is determined to make an impact south of the border.
He added: "I'm really confident because I played against Brentford and done well and scored.
"They're a good side in League 1 and probably should have been promoted last year, so I'm confident that I can come here and make an impact."
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