Creso Pharma’s Mernova receives esteemed award

By Trevor Hoey. Published at May 17, 2021, in Small Caps

In a development that will effectively make Creso Pharma Limited (ASX:CPH, FRA: 1X8) wholly-owned Canadian subsidiary Mernova Medicinal Inc. one of a select group of licensed cannabis producers the group has been awarded Craft Designation by the Ontario Cannabis Store (OCS).

The OCS is a crown agency solely owned by the Province of Ontario, and it reports directly to the Ministry of Finance, being the province’s only retailer and wholesaler of legal recreational cannabis.

The OCS has created a specific category for craft cannabis products available to consumers in Ontario.

To qualify, dried-flower and pre-roll products must be hand-trimmed, hang-dried and hand-packaged.

Mernova’s managing director Jack Yu was praiseworthy of his operational team in terms of their commitment to optimum quality production control in saying, “Our focus has always been on quality over all else and being awarded OCS Craft Designation is a direct result of this strategy.

"To be one of the only companies to be awarded OCS Craft Designation in Ontario is a major validation of the hard work and effort put in by our operations team, and it reflects the resulting artisanal quality of our products.

‘’We do things the right way, combining science and artisanal methods to produce some of the finest cannabis available.

‘’We don’t compromise on quality, and we’re becoming recognised within the industry because of it.’’

Award is expected to provide competitive advantages

This designation is an important achievement for Mernova and will provide Creso Pharma with much broader visibility in a competitive market.

It also highlights the superior quality of Mernova’s products as the company continues to achieve strong sales growth across Ontario.

On this note, Yu said, "We are confident that this new category will help further differentiate us from the competition, enhance our brand, and provide increased brand exposure and brand awareness, which should result in much broader visibility within the market.”

Currently, Mernova’s HPG13, Lemon Haze, and Clementine Punch strains are sold out across multiple dispensaries in the province.

Ontario represents a large addressable market for Creso Pharma, and as it is one of the largest recreational cannabis markets in Canada there is an expectation of Mernova achieving ongoing growth through the region.

Ritual Green products are currently available to over 600 stores in Ontario, while also being available to the public directly through the OCS online sales platform.

Management is continuing to monitor potential patterns and shifts in the distribution of cannabis in Ontario in order to adjust to the varying dynamics.


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 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