Creso JV prepped to launch pot-flavoured beers in Canada, Europe
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Creso Pharma Limited (ASX:CPH) has today informed the market that CLV Frontier Brands Pty Ltd (CLV), its equal one-third joint venture with UK-based Baltic Beer Company Ltd and Canadian TSX Venture incorporated LGC Capital, is schedule to have its first beers and tonics on sale in Europe and Canada during the northern hemisphere summer.
CLV is developing a bespoke and unique range of beers and tonics at its newly-built facilities in Europe, and has progressed into the brew testing phase.
Further, the TSX Venture Exchange has conditionally accepted LGC Capital’s joint venture investment in CLV, subject to LGC filing standard documentation with the Exchange.
Dr. Miri Halperin Wernli, co-founder and CEO of CPH commented on today’s news: “We see CLV as an exciting business partnership that we believe can add significant sales revenues to Creso Pharma over the coming years. Full details of the beer and tonic ranges will be released when CLV debuts its products and branding at a world-wide product launch.
“Europe will be the initial focus for sales, as Europe is the home market for the Baltic Beer Company’s multi award winning Viru beer. The company also plans to launch in Canada this summer,” she said.
However, how much of the market CPH is able to corner is speculative at this stage and therefore investors shouldn’t act on this fact alone, but should take all publicly available information into account and seek professional financial advice.
The unique selling point for CLV’s beers is the fact they contain terpenes, which carry the flavour and aroma of cannabis, without carrying THC, CBD or any other cannabinoids. The terpenes are extracted from various plant sources, all of which are food-grade, 100% natural and non-genetically modified (GMO) ingredients.
The terpenes added to CLV’s beers is pure and considered very safe for human consumption when added to products for flavor, having met the criteria of FDA/FEMA GRAS (Generally Recognized as Safe). The terpenes are added to the beverages at the post-fermentation stage in much the same manner as hop extracts are added.
Promisingly, the three companies comprising CLV will bring considerable market reach when it comes to commercialisation strategies, boasting networks across several continents between the three companies.
CPH’s growing pipeline of news
CPH has been busy across several areas of its business in recent months with news spanning acquisitions, product development and release, new strategic partnerships and more. Earlier this month, it updated the market around its heads of agreement for its proposed acquisition of Colombian medical cannabis group, Kunna S.A.S., and its parent company, Kunna Canada.
The company revealed last month that it plans to enter into the sports and osteoarthritic market with its innovative CBD-based cannaDOL® product range, comprising both oral nutraceuticals and functional cosmetics, by joining forces with FRIKE Technologies, the largest independent Swiss manufacturing group.
In February, CPH announced the completion of its acquisition of emerging Nova Scotia-based medicinal cannabis producer, Mernova Medicinal Inc, and accompanying formal entry into Canada — making it the only Australian cannabis company with direct exposure to the world’s largest legal medical cannabis market.
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