Creso signs Distribution Agreement with Burleigh Heads Cannabis and secures import permit for the introduction of its medicinal cannabis product, cannaQIX® 50 to Australia
April 30th, 2019
- Creso Pharma confirms receipt of an import permit for its first shipment of it’s innovative therapeutic product cannaQIX® 50 to Australia to be sold as a therapeutic product via approved channels
- Comprehensive Distribution Agreement signed with Burleigh Heads Cannabis, one of Australia’s leading medicinal cannabis distribution companies
- Creso and Burleigh Heads Cannabis agree to explore the introduction of additional therapeutic/medicinal products from Creso’s pipeline of new products to be produced by Creso at its production facilities globally
Creso Pharma Limited (ASX:CPH, FRA:1X8) (the “Company” or “Creso”) is pleased to announce that it has signed an exclusive Distribution Agreement with Burleigh Heads Cannabis, one of Australia’s foremost medicinal cannabis distribution companies, to geographically expand the distribution of its innovative therapeutic medicinal cannabis products into Australia.
Creso and Burleigh Heads Cannabis have received the necessary regulatory acceptance for the first shipment of Creso’s flag-ship medicinal cannabis product, cannaQIX® 50, to be imported in Q3 2019 as a therapeutic product for sale via approved channels.
Dr. Miri Halperin Wernli, Creso Pharma’s CEO and co-founder said, “We are delighted to announce the formal signing of this milestone Distribution Agreement for Australia. Burleigh Heads Cannabis and CDA Clinics Australia are rapidly expanding their patient reach, bringing an excellent channel for our innovative products.”
Mr Guy Headley, Director of Operations is excited to formalise the exclusive Distribution Agreement with Creso. “We are impressed with Creso’s commerciality and the collaberative nature in which the agreement was reached. We are excited to provide Creso Pharma with an avenue to market which in turn providies Australian patients and doctors with another quality product option to utilise in patient care. We look forward to working with Creso Pharma as they develop further products in the coming months.”
About cannaQIX® 50 in medicinal cannabis
cannaQIX 50® is Creso’s proprietary buccally formulated cannabidiol (“CBD”) lozenge which is designed to support the management of chronic pain. Each cannaQIX 50® lozenge contains 50mg of CBD from full spectrum hemp plant extracts along with niacin, vitamins B6, B12, C, and zinc in a standardized pharma-grade formulation produced in Switzerland. cannaQIX 50® comes in packs of 30 lozenges in a proprietary delivery formulation designed for buccal absorption and to dissolve in the mouth. This method works faster and more efficiently than tablets or capsules which need to be swallowed and have a high percentage of their ingredients broken down when absorbed through the intestine and passed first through the liver. By being dissolved in the mouth, the active ingredients enter the blood stream directly, avoiding this first pass through the liver. cannaQIX 50® has been developed to Good Manufacturing Practice standards and is produced in Switzerland by Creso’s partner Swiss-based food and pharma development company, Domaco, Dr. med Aufdermaur AG (“Domaco”) to the highest Swiss quality with a “Swiss Made” label.
About Creso Pharma
CresoPharma.com (ASX: CPH)
Creso Pharma brings the best of cannabis to better the lives of people and animals. It brings pharmaceutical expertise and methodological rigor to the cannabis world and strives for the highest quality in its products.
It develops cannabis and hemp derived therapeutic, nutraceutical, and life style products with wide patient and consumer reach for human and animal health. Creso uses GMP development and manufacturing standards for its products as a reference of quality excellence with initial product registrations in Switzerland. It has worldwide rights for a number of unique and proprietary innovative delivery technologies which enhance the bioavailability and absorption of cannabinoids.
About Burleigh Heads Cannabis and Cannabis Doctors Australia (CDA) Clinics
CDA Health Pty Ltd, through its subsidiaries, Burleigh Heads Cannabis Pty Ltd and Cannabis Doctors Australia Pty Ltd provides a market entry solution to local and international businesses seeking to gain access to Australia’s Medical Cannabis market.
Burleigh Heads Cannabis is a fully licensed Medical Cannabis wholesaler which utilises its secure cold-chain facility on the Gold Coast and national pharmacy partner network to provide local and International producers a streamlined importation and distribution service throughout Australia.
CDA operates CDA Clinics, doctor-led Medical Cannabis clinics throughout Australia through its network of physical clinics and TeleHealth consultation services. CDA Clinics is one of, if not the first clinic group to pass the key milestone of 1000 SAS B patient approvals and 1500 prescriptions since launching in October 2018.
CDA Health through CDA clinics and Burleigh Heads Cannabis provide an attractive opportunity for quality producers to effectively introduce innovative products to Australian patients.
CDA Health is embarking on an equity raise offer through crowdfunding, with a goal to remain a strong, adaptive and independently owned mainstay of the Australian Medical Cannabis industry. If you would like to register your interest, please head to www.cdaclinics.com.au/investors.
About Domaco, Dr. med Aufdermaur AG
CresoPharma.com (ASX: CPH)
Domaco, Dr. med Aufdermaur AG is a Swiss-based food and pharma development company that owns the rights to a number of innovative delivery systems used to administer active ingredients through galenic forms which is a way of preparing and compounding medicines in order to optimise their absorption.
Forward Looking statements
This announcement contains forward-looking statements with respect to Creso and its respective operations, strategy, investments, financial performance and condition. These statements generally can be identified by use of forward-looking words such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intends”, “believe” or “continue” or the negative thereof or similar variations. The actual results and performance of Creso could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition and government regulation.
The cautionary statements qualify all forward-looking statements attributable to Creso and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this announcement and Creso has no obligation to up-date such statements, except to the extent required by applicable laws.
Corporate Queries: EverBlu Capital Level 39, Aurora Place 88 Phillip Street, Sydney NSW 2000 E: [email protected] P: +61 2 8249 000
Follow Us on Social Media
About CFN Media
CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
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/.