Creso Pharma’s Mernova secures first sale for Ritual Sticks

By Hannah Goldman. Published at Mar 19, 2021, in ASX Biotechs

Creso Pharma Limited (ASX:CPH, FRA: 1X8) has announced three new purchase orders for its wholly-owned Canadian subsidiary, Mernova Medicinal Inc, with a total value of C$177,122.40 (A$183,019.55).

Included in these purchase orders is the first purchase order for Mernova’s Pre-roll Joint range, sold under the Ritual Sticks brand.

Valued at C$70,560.00 (A$72,890.241), this sale marks the official launch of the product line in Canada, with the new Pre-roll Joints to be available to consumers in the coming weeks.

Ritual Sticks products are expected to add additional revenue stream for Mernova, with additional orders expected in the near term.

Mernova’s new Ritual Sticks product range.

The Ritual Sticks offering is comprised of new Pre-roll Joints which utilise the company’s top-quality indoor grown, hand trimmed, hang dried, cured, artisanal, craft cannabis.

To produce the line of Pre- roll Joints, Mernova exclusively utilises only the same high-quality cannabis that is sold under the Ritual Green brand. The launch follows considerable product development initiatives, as well as a lengthy registration process with Health Canada.

Ritual Sticks Unlocks Significant Addressable Market

The pre-roll Joint market provides a number of opportunities for Mernova and potential new customer base.

The Ritual Sticks range will provide products for people that do not know how to roll their own joints, or simply want to avoid the inconvenience of rolling joints themselves, and will benefit from the convenient nature of the Company’s new offering.

Ritual Sticks will also be sold at a lower price point than Mernova’s Ritual Green line and serve as an entry level product that makes it more affordable for people to try Mernova’s high-quality strains. The expectation is that once people try the products, a significant number will become repeat customers.

Purchase Orders highlight Mernova’s growing brand recognition

The additional PO’s highlight Mernova’s growing brand recognition and shift to recurring revenue model.

The second PO is from NSLC and is valued at C$61,022.40 (A$63,037.66) for its Black Mamba and Mimosa strains, sold under the Ritual Green brand. This PO demonstrates the strong uptake of Ritual Green in Nova Scotia, which is a large addressable market for the Company.

The third PO, valued at C$45,540 (A$47,043.96) was from Cannabis NB for the Company’s Ritual Green strains Lemon Haze and Mimosa. Cannabis NB is the government-owned retail cannabis monopoly in the Atlantic Canadian Province of New Brunswick. It has an established footprint of 20 retail outlets and an online channel which generate significant cannabis sales.

Mernova continues to witness strong growth through sales across all provinces.

The Company anticipates that the recent launch of Ritual Sticks will add another revenue stream to Mernova’s growing sales profile. Additional POs for new and existing product ranges are expected in the near term.

Mernova’s Managing Director, Jack Yu commented on the purchase orders: “Receiving our first PO for our Ritual Sticks brand of Pre- roll Joints is a major achievement for Mernova, and is the result of considerable R&D to select the right equipment and develop our processes.

"We wanted to produce the best Pre-roll joints possible, and are very excited to get our new products in the hands of customers in the coming weeks, so that they can provide their feedback.

“One thing that sets us apart is that we use only the same high-quality cannabis as sold under our Ritual Green brand of dried flower. We expect these products to open a much broader market for Mernova, as they are priced as entry-level products, which should help introduce our products to a much larger customer base, and they offer a level of convenience that many will appreciate.

“Mernova continues to witness very strong sales growth and the additional purchase orders received recently are validation of this. Our brand recognition has increased considerably over the last few months, particularly in Nova Scotia, and Mernova has generated a reputation as one of the best craft cannabis growers in Canada. Most importantly, our ongoing sales growth has put the business on a fast track towards a stable, and recurring revenue-generating model.

“We expect demand for our products to continue, particularly with the introduction of our Pre-roll Joint range, and we look forward to updating shareholders on new purchase orders 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!