Creso Pharma Secures New US$625,000 Purchase Order for Medicinal Cannabis

By Trevor Hoey. Published at Jul 10, 2020, in ASX Biotechs

Creso Pharma Limited’s (ASX:CPH;FRA:1X8) wholly-owned subsidiary Mernova Medicinal Ltd has received a US$625,000 purchase order for its premium, cured and hand-trimmed dried medicinal cannabis flower from Univo Pharmaceuticals Ltd (TLV: UNVO).

This is the second wholesale purchase order received from Univo, the first being in April, and this provides Creso with the opportunity to leverage Univo’s extensive distribution networks into the rapidly growing Israeli market.

Israel is a pioneer in the global medicinal cannabis market, which has been estimated to be worth US$62.7 billion by 2024.

Listed on the Tel Aviv Stock Exchange, Univo is a medicinal cannabis company which has licenses for the entire supply chain including cultivation, production, research and development and distribution.

As a backdrop, Creso Pharma uses GMP (Good Manufacturing Practice) development and manufacturing standards for its products as a reference of quality excellence with initial product registrations in Switzerland.

The company has worldwide rights for a number of unique and proprietary innovative delivery technologies which enhance the bioavailability and absorption of cannabinoids.

Delivery within one month

Under the terms of the Purchase Order announced today, Mernova will ship four of its premium strains of cured, hand-trimmed, dried medicinal cannabis flower, to Univo in Israel.

An initial 25% of the order value will be paid in cash upon receipt of the export license from Health Canada, a further 25% will paid upon receipt of goods at TLV Ben Gurion Airport, and the remaining 50% of the order value will be paid within 30 business days of the goods being delivered at Univo’s factory in Israel.

Delivery is expected to be completed within one month, subject to the grant of an export permit by Health Canada.

The Purchase Order cannot be terminated by Univo, but Univo has the right to reject the product and receive a partial refund if any material defects are identified within 21 business days of delivery.

Entry into Canada imminent

Commenting on the significance of this order in terms of expanding Creso Pharma’s market presence in this high-growth area, chief executive and co-founder Dr. Miri Halperin Wernli said, “Following our initial entry into the Israeli market in April this year, we are delighted to have received another significant purchase order from Univo which further strengthens our penetration into this growing market.

“Univo has an impressive distribution network, including significant connections to pharmacies and patients in Israel, so this truly is a tremendous growth opportunity for Creso.

“Israel is widely recognised as one of the more progressive and active cannabis markets globally and Univo’s acceptance and continued demand for our cannabis is a major testament to the quality of our product and the expertise of the Mernova team.

“As wholesale demand for our products continues to solidify, we are also preparing for Mernova’s launch into the Canadian retail market which is another exciting near-term opportunity.

‘’With several value catalysts on the horizon I look forward to providing further updates from across the business in the near-term.”

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!