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Creso Pharma (ASX:CPH) - CEO & Co Founder, Dr Miri Halperin Wernli
CEO & Co Founder, Dr Miri Halperin Wernli
Source: Star Investing
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  • Creso Pharma (CPH) can begin cannabis sales in Canada after its subsidiary, Mernova Medicinal, received a grant of sales licence from Health Canada
  • All legal due diligence has been completed and Mernova can now begin selling its dried and fresh cannabis products to authorised retailers
  • This licence is valid until February 2022 and it can be renewed once it has expired
  • The ability to sell is extremely beneficial for Mernova as it significantly increases its customer base and revenue stream
  • Creso Pharma is up a slight 1.96 per cent and shares are trading for 5.2 cents each

Creso Pharma (CPH) can begin cannabis sales in Canada after its subsidiary, Mernova Medicinal, received a grant of sales licence from Health Canada.

All legal due diligence has been completed and Mernova can now begin selling its dried and fresh cannabis products to authorised retailers.

This licence is valid until February 2022 and it can be renewed once it has expired.

The ability to sell directly into the rapidly growing market is an important commercial milestone for Mernova as it significantly grows the company’s customer base.

Additionally, this diversifies Mernova’s revenue stream and builds on a growing sales pipeline.

The first product to be available will be Mernova’s dried flower. Additional products will be added once they become available.

This product will be labelled ‘Ritual’ and will be sold though Nova Scotia Liquor Corporation’s (NSLC) stores and e-commerce platform.

“We are pleased to have completed this due diligence process very quickly as it now allows us to shift our attention back to selling our high-quality cannabis products,” CEO and Co-Founder Dr Miri Halperin Wernli said.

“Mernova has an exciting opportunity ahead to cement a robust retail footprint in what is a rapidly expanding Canadian market and we are moving promptly to capture this value for our shareholders,” she added.

Creso Pharma is up a slight 1.96 per cent and shares are trading for 5.2 cents each at 2:08 pm AEST.

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