CPH’s subsidiary Hemp Industries receives approval to sell new range of hemp extract products in Czech Republic
Creso Pharma (ASX:CPH) today announced its subsidiary Hemp Industries has received regulatory approval for the sale of its new range of hemp extract-based products called ‘diCBDium’ in the Czech Republic.
It’s a significant move which will pave the way for the company to begin selling the product range to 396 pharmacies in the country, offering the THC-free diCBDium in three different concentrations of CBD (the acronym for cannabidiol, the products’ key ingredient) at 3%, 5% and 10%.
Creso Pharma has established itself as a leader in cannabidiol innovation, and is developing cannabis and hemp derived therapeutic grade CBD nutraceuticals and medical cannabis products across both human and animal health sectors.
Today’s development is the first of what the company hopes will be a string of similar announcements over the next six months, as it advances negotiations with other potential distributors in Slovakia, Austria and Central Europe.
Yet, CPH does remain a speculative investment and professional financial advice should be sought for those considering this stock for their portfolio.
Hemp Industries is also expecting a third order of its Hemp Protein from one of Slovakia’s largest bakeries, Pekarne Liptovsky Hradok (PLH) with the order being used to produce several top-quality protein bar products. These bars are to be sold in leading grocery chains like Tesco and Kaufland.
Hemp Industries has previously supplied PLH with a 500kg shipment of hemp protein in August 2016 and a 700kg shipment in December 2016.
Hemp’s non-THC diCBDium product line is used for regulating health and disease, physiological functions, supporting the central and peripheral nervous systems and in peripheral organs.
“Hemp Industries continues to build its profile as the leading supplier in the region of hemp extract and hemp protein products and this new range provides another opportunity for the Company to grow its customer base and revenues,” said Creso Pharma Chairman and Co-Founder Boaz Wachtel.
“We anticipate strong demand for the new range both in our existing markets and we also hope to build additional demand through distribution relationships in new markets across Central Europe.”
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Maven Capital Pty Ltd (AFSL No. 418504). 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.
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.