Creso Pharma delivers third order of Ritual Green brand

By Trevor Hoey. Published at Oct 27, 2020, in ASX Biotechs

Creso Pharma Limited’s (ASX:CPH; FRA: 1X8) wholly-owned Canadian subsidiary, Mernova Medicinal Inc. a licensed producer in Nova Scotia, has received and successfully delivered its third purchase order (PO) from the Nova Scotia Liquor Corporation (NSLC).

The third PO is for 20 cases of Mernova’s ‘Mimosa’ (15-20% THC, less than 1% CBD) strain which is Mernova’s value brand now launched under the Ritual Green brand.

The introduction of the strain will allow Mernova to pursue a much larger addressable market, targeting consumers who are seeking premium quality at a more reasonable price-point.

This marks the third PO received from the NSLC in the last four weeks, with the two previous orders for the company’s premium strains, HPG13 (20-25% THC, < 1% CBD), and Lemon Haze (20-25% THC, < 1% CBD) continuing to sell well.

Creso is very confident that it will continue to receive purchase orders from the NSLC of its Mimosa and premium quality strains, allowing the company to build on the C$320,000 in revenue it has generated in the last month from the NSLC.

Mernova benefiting from e-commerce sales

Mernova’s Ritual Green products are sold through NSLC stores and e-commerce platform.

The additional purchase order serves as further confirmation of the success of the Ritual Green brand of high-quality cannabis products in the rapidly growing Canadian retail recreational market.

Mernova continues to make significant inroads into the Nova Scotia recreational market with its diverse products offering premium quality at a competitive price point.

Commenting on recent sales developments and the prospect of maintaining this momentum, Mernova managing director Jack Yu said, “Securing this additional purchase order from the NSLC is a significant achievement, and further validates the success of the recent Ritual Green product launch.

“Our products continue to garner very positive feedback from customers and we are confident that the Mimosa strain will unlock a large portion of the market that we can capitalise on in the near term.

“We look forward to updating shareholders on progress in Nova Scotia, additional strain launches under the Ritual Green product range, and further orders to be finalised in the near term.”

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