Creso Pharma Secures Canadian License to Cultivate in Nova Scotia


Ryan Allway

February 27th, 2019

Exclusive, News, Top Story


Creso Pharma Inc.(ASX: CPH) is a commercial-stage company that operates in multiple parts of the burgeoning cannabis industry. With an existing line of health and wellness products, the company is actively generating revenue across European markets. The company’s recently granted license to cultivate in Nova Scotia provides additional exposure to Canada’s recreational and medical markets and vertically integrates its supply chain.

The company’s wholly-owned Mernova Medical Inc. subsidiary has completed a 24,000 sq. ft. cannabis cultivation facility that’s purpose-built to GMP standards. As a recently approved licensed producer, the company will be generating revenue that will appear in its 3rd quarter financial results. The facility is scalable to 200,000 sq. ft. over the long-term and management plans to focus on edibles in 2019.

Click here to receive an investor presentation and going public alert

After receiving a license to cultivate, the company became the only ASX-listed company that has 100% ownership of a Canadian licensed producer. The license enables the company to sell and distribute dried and fresh cannabis plants and seeds to other companies that hold licenses under the Cannabis Act. European GMP certification is expected within 180 days, enabling the products to be exported across Europe.

The company signed a three-year supply agreement earlier this year with TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF), where it committed to selling a minimum of 100,000 grams of cannabis flower per month. The deal provides an immediate revenue stream following its cultivation license and eliminates any uncertainty of distribution over time.

Capitalizing on Canada’s Shortage

Canada’s cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of adult-use cannabis last year. In the aftermath of legalization, there has been a chronic shortage of supply across the country. Many industry experts believe that the supply shortage will persist through 2022 as Health Canada works through a backlog of licensed producer applicants.

In addition to its Canadian facility, the company’s wholly-owned Kunna SAS subsidiary holds five licenses to cultivate cannabis in Colombia. The company plans to begin cultivation and extraction this year with initial revenue in the third quarter from Latin America end markets. Kunna was one of Colombia’s first medical cannabis companies in 2012, capitalizing on the country’s ideal climate for growing high-quality cannabis.

Colombia has upwards of six million medical cannabis patients, while regulators have green-lighted 40.5 tons of medical cannabis to be harvested for export purposes. These production levels could meet nearly half of global cannabis demand.

Click here to receive an investor presentation and going public alert

Rapidly Growing Revenue

Many cannabis companies are development-stage opportunities, but Creso Pharma has existing products on the market with growing revenue During the second half of 2018, the company started generating revenues which will increase as commercial partners reup orders, consumer demand is increasing, and new distribution channels are being set up across Europe.

The company’s innovative products apply cutting-edge buccal delivery methods to hemp CBD-infused products across both human and animal markets. For example, the company’s cannaQIX® products provide a cannabidiol (CBD) based full-spectrum hemp extract medicinal cannabis product available as a buccal lozenge to help manage pain.

 

 

 

 

 

 

 

 

 

 

Looking Ahead

Creso Pharma Inc.(ASX: CPH) represents a compelling investment opportunity. Investors can expect to see more meaningful revenue over the coming quarters as the company launches innovative new products, establishing new distribution channels, and ramps up its cannabis plant and seed cultivation. In addition, the company continues to create or acquire operations where there are commercially significant opportunities for its products, with a focus on nutraceuticals, therapeutics, topicals, lifestyle, and animal health segments.

Click here to receive an investor presentation and going public alert

Disclaimer  

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


Network Partners

Follow Us on Social Media

About CFN Media Group

CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.

Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer

loading