Next Investors logo grey

Creso Pharma’s Mernova receives initial purchase order


Published 21-SEP-2020 10:04 A.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Creso Pharma Limited’s (ASX:CPH; FRA:1X8) wholly-owned subsidiary, Mernova Medicinal Inc. (Mernova), a Licensed Producer of cannabis products with its operations based in Nova Scotia, Canada, has received an initial purchase order (PO) valued at C$180,000.

The order was received from the Nova Scotia Liquor Corporation (NSLC) for the purchase of two of its premium strains, HPG13 and Lemon Haze.

The NSLC is operated by the Nova Scotia Provincial government and is the sole distributor of retail cannabis in Nova Scotia.

This important milestone marks the imminent launch of Mernova’s Ritual Green brand of high-quality cannabis products into Canada’s rapidly growing recreational markets.

Entering Canada’s retail markets diversifies Mernova’s revenue streams and builds on an established and growing wholesale product sales pipeline.

Ritual Green to be sold through NSLC stores and e-commerce platforms

Mernova’s retail recreational cannabis products will be launched under the brand name ‘Ritual Green’ and will initially be sold through the Nova Scotia Liquor Corporation’s (NSLC) stores and e-commerce platform.

The first product available to recreational customers will be Mernova’s high-quality dried flower in its natural form.

Additional high-quality products will be added to the product line as they become available.

The Ritual Green HPG13 product is illustrated below.

28 - CPH.PNG

Further recreational and medicinal opportunities for Mernova

Highlighting the significance of this development in terms of building a strong brand in the group’s home province, Mernova’s managing director Jack Yu said, “Receiving this initial PO is the first step to Mernova establishing itself as a trusted supplier of high-quality, locally grown, artisanal cannabis products to the NSLC.

“To meet the supply chain demands of the NSLC and other provincial purchasers, we are adjusting our grow scheduling, while simultaneously ramping up production of our highest quality strains.

“We plan on taking full advantage of this opportunity to build our brand and brand loyalty, in our home province of Nova Scotia and I look forward to providing further updates in the near-term.”

Creso Pharma’s management said that it will continue to provide regular updates on retail and wholesale sales, as well as expansion opportunities available to Mernova as referred to by Yu.

Mernova is also making considerable progress towards securing EU (European Union) Good Manufacturing Practice (GMP) certification, a development that could be a significant share price catalyst for Creso Pharma.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.