Mernova will begin selling its dried and fresh cannabis products under the sales licence to provincially and territorially authorised retailers for medical purposes.
() (OTCMKTS:COPHF) (FRA:1X8) will begin cannabis sales in Canada after the grant of a sales licence from Health Canada to Creso’s related body corporate Mernova Medical Inc.
Due diligence has been completed on the activities and Mernova will now look to begin selling its dried and fresh cannabis products under the sales licence to provincially and territorially authorised retailers for medical purposes.
This ability to sell products directly into the medicinal and rapidly growing recreational markets in Canada is an important commercial development for Mernova.
The first available recreational product will be Mernova’s high-quality dried flower in its natural form with additional high-quality products to be added to the product suite as they become available.
“Rapidly expanding market”
Cresco Pharma co-founder and CEO Dr Miri Halperin Wernli said: “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.
“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.
“I look forward to providing further updates on sales progress over the coming weeks.”
Shares are up almost 10% to A5.6 cents.
Creso Pharma will continue to provide regular updates on both retail and wholesale sales as material purchase orders are received.
GMP manufacturing standards
The company ses GMP (Good Manufacturing Practice) development and manufacturing standards for its products as a reference of quality excellence with initial product registrations in Switzerland.
It has worldwide rights for several unique and proprietary innovative delivery technologies which enhance the bioavailability and absorption of cannabinoids.
Creso’s products include anibidiol® which assists in the health and wellbeing of animals, cannaDOL® which is a CBD-based topical gel for the skin, and cannaQIX® which aims to reduce stress and pain.