Creso Pharma’s Mernova formally recognised as a supplier in Ontario

By Trevor Hoey. Published at Dec 16, 2020, in ASX Biotechs

In a highly promising commercial development, Creso Pharma Limited’s (ASX:CPH) wholly-owned Canadian subsidiary, Mernova Medicinal Inc. has secured an agreement with the Ontario Cannabis Retail Corporation (OCRC), operating as the Ontario Cannabis Store (OCS), formally recognising Mernova as a supplier.

This is a major achievement for the company as it highlights Mernova’s rapid progress in Ontario, Canada’s largest recreational cannabis market.

Ontario Cannabis Store is a crown agency, solely owned by the Province of Ontario.

It reports directly to the Ministry of Finance and is Ontario’s only online retailer and wholesaler of legal recreational cannabis.

The group provides legal, clearly labelled cannabis to a large customer base through Health Canada authorised suppliers.

Under the agreement, Mernova will supply OCS with a range of its high quality, indoor grown, hand trimmed, hang dried, cured, artisanal cannabis strains HPG13, Lemon Haze and Mimosa, which will be sold through established online channels under Mernova’s Ritual Green Brand.

The receipt of the agreement follows an initial notice to purchase from the group received last week, and management expects purchase orders to materialise imminently.

While volume commitments are yet to be finalised, Creso Pharma anticipates strong sales growth through Ontario.

Ontario accounts for more than 30% of sales in Canada

The province is Canada’s largest recreational market, and in September sales of regulated cannabis in Ontario totalled C$77.9 million, more than 30% of the total monthly sales volumes generated across Canada (September 2020 monthly sales in Canada were C$253.6 million).

Mernova is working closely with the OCRC and OCS to progress the sale of its Ritual Greens products throughout Ontario, and managing director, Jack Yu said: “This is a huge step forward towards selling our high-quality products in Canada’s largest market.

‘’To be able to compete in a market with over C$385 million in sales between April 2019 and March 2020, which continues to grow, is a huge opportunity for us and we look forward to firmly establishing ourselves as one of the premier cannabis producers in the country.

“We look forward to greatly expanding the reach and distribution of our Ritual Green products so that more consumers can experience the premium products that Creso Pharma and Mernova have to offer.’’


Where to invest $1,000 right now


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 Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com 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.

Finfeed.com 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.

Finfeed.com 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!

X