Creso welcomes LGC Capital into strategic alliance
One of the most expansive (yet, least utilised) market niches to be found in the world today is medicinal cannabis. Medicinal cannabis products are becoming increasingly more accessible in parallel to government regulations softening across the developed world.
As you would expect, the liberation of previously cloistered markets, is breeding entrepreneurship and innovative methods of making medical cannabis a commercial morsel.
Creso Pharma (ASX:CPH) and TSX-listed LGC Capital (TSX-V.LG), have jointly announced the formation of a strategic alliance intended to create a vertically-integrated cannabis company with a global footprint spanning cultivation, IP generation and commercially-viable innovative products.
The agreement paves the way for the two companies to form a mutually-beneficial alliance, to develop innovative pharmaceutical solutions addressing the growing demand for cannabis and hemp-derived therapeutics, cosmetics, nutraceuticals and lifestyle products.
It is early stages in this agreement thus far so interested investors should seek professional financial advice if considering this stock for their portfolio.
Currently, the ‘nutraceuticals’ market is estimated to be worth around US$200 billion annually, and expected to reach US$205 billion by the end of 2017.
By focusing on unique and innovative product delivery mechanisms, Creso Pharma is developing cannabis and hemp therapeutic products, manufactured to the highest pharmaceutical GMP standard and delivered to the highest quality levels across the supply chain.
CPH has said that it will update the market with full details, terms and conditions of the agreement early next year. One key factor that may be play a part in supporting CPH’s internal development as well as attracting further investment capital to CPH, is the influence of David Lenigas, the current Founder and Co-Chairman of LGC .
Mr. Lenigas is a renowned Australian-based investor with past involvement in Artemis Resources (ASX:ARV), a Resources company that made instant market headlines for its recent gold discovery in WA (and also strategically backed by Lenigas’ investment company LGC).
Accompanying Creso’s alliance with LGC Capital, David Lenigas said, “Creso operates under the highest GMP Swiss standards and all of its products are manufactured, quality controlled and certified in Switzerland. Creso’s team consists of globally-recognised pharma professionals and this alliance between Creso and LGC is a terrific development for both companies.”