Creso’s Canadian Subsidiary Sees $494,000 In Additional Orders

Creso Pharma (ASX: CPH) this morning announced that its Canadian subsidiary, Mernova Medicinal, has obtained an additional four purchase orders. The orders come from three separate provincial board, and have an aggregate value of $494,131.

The first two purchase orders come the Ontario Cannabis Store, or OCS, marking the first such orders from the largest province within Canada. In total, the PO’s for the province amount to $343,331, representing a strong initial step into the largest cannabis market within the country. Delivery of product is to begin in the coming weeks, with Ritual Green branded products to be sold through the retailer.

Also secured was an additional purchase order from Cannabis NB, amounting to $81,800 for further Ritual Green products. This marks the second order received from the government entity, following the first received earlier this month for $94,800.

The final order comes from that of the Nova Scotia Liquor Corporation, the ninth such order received from the provincial board. Valued at $69,000, the order is for the firms Lemon Haze strain, which is to be delivered by the end of the month.

“We anticipate that purchase orders will continue to grow in frequency, size and volume, especially with the launch of our latest premium, artisanal, craft strain, Black Mamba. To support the launch and increase brand awareness, Mernova has initiated a number of branding and sales campaigns, including on social media, in coordination with high profile Canadian influencers.”

Jack Yu, Managing Director of Mernova

A number of growth initiatives are reportedly pending for the subsidiary as well, including the firms entry into the hash market as well as the launch of Mernova’s pre-roll joint range. The company is reportedly also working towards a number of licensing arrangements.

Creso Pharma last traded at $0.23 on the ASX.


FULL DISCLOSURE: Creso Pharma is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Creso Pharma on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Why Copper Juniors Could Explode After This Trade War Move | Christian Easterday – Hot Chili

Silver Is Rarer Than Gold, And the Market’s Waking Up | Shawn Khunkhun – Dolly Varden Silver

Gold Will Hit North of $4,000: Who’s Actually Producing? | Shane Williams – West Red Lake

Recommended

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Related News

Bruce Linton: Will Cannabis Be Descheduled Under Biden? – The Daily Dive

Today on the Daily Dive, we get the opportunity to sit down with Bruce Linton,...

Tuesday, February 9, 2021, 01:30:00 PM

US Cannabis: How Will New York Play Out? – The Daily Dive Featuring Bruce Linton

Joining back on the Daily Dive is Bruce Linton, founder and former CEO of Canopy...

Tuesday, September 28, 2021, 01:30:00 PM

Creso Pharma Enters Psychedelics Space With Acquisition Of Canadian Firm

Creso Pharma (ASX: CPH) this morning announced that it will be entering the psychedelic space,...

Monday, March 15, 2021, 09:07:46 AM

Creso: The Only ASX-Listed Licensed Producer – The Daily Dive feat Jorgi Wernli

Today on The Daily Dive, we sit down with Jorge Wernli, Commercial and Market Access...

Wednesday, February 10, 2021, 01:30:00 PM

Creso Pharma Enters LOI For Product Distribution In The USA

Creso Pharma (ASX: CPH) is the latest issuer to enter the US cannabis market. The...

Monday, March 1, 2021, 07:25:54 AM