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Be the first with the news that moves the market- Creso Pharma’s (CPH) subsidiary Mernova Medicinal has achieved a market share of five per cent in Nova Scotia across all product formats
- The company is planning for continued growth as it expects to launch its Ritual Gold oil vape in the region by quarter three this year
- Mernova is also working to improve its growing process to increase plant yield and quality
- This includes investments in higher quality nutrition products, irrigation system upgrades and new FLUENCE SPYDR lighting
- Shares close 5.45 per cent higher today at 5.8 cents each
Creso Pharma’s (CPH) subsidiary Mernova Medicinal has achieved a market share of five per cent in Nova Scotia across all product formats.
The sales growth is attributed to the brand positioning of the Ritual Green as a premium product.
The company is planning for continued growth as it expects to launch its Ritual Gold oil vape in the region by quarter three this year.
Mernova is also working to improve its growing process to increase plant yield and quality. This includes investments in higher quality nutrition products, irrigation system upgrades and new FLUENCE SPYDR lighting.
The improvements will allow the company to increase volumes while decreasing cost per gram.
To assist with these growth initiatives, CPH appointed Executive Director Michelle MacKay as Managing Director of Mernova. She will manage all business and operational aspects of the subsidiary company.
Chief Executive Officer and Managing Director William Lay said the ongoing improvements to growing processes will allow Mernova to push towards profitability.
“To reach about 15 per cent market share within certain sub-categories is a testament to the quality of our products, and the hard work and dedication of our production staff and sales and marketing team,” he said.
“We look forward to taking our successful Nova Scotia approach and methodologies to other markets as we target further sales growth.”
Shares closed 5.45 per cent higher today at 5.8 cents each.
