Key points:• Acquisition of Mernova Medicinal Inc (Mernova) for C$10.1 million (A$10.2 million) in cash and equity.
• Creso Pharma
(ASX:CPH) becomes the only Australian cannabis company with direct exposure to the world’s largest legal medical cannabis market.
• Delivers on Creso’s strategy of establishing a Canadian presence and the pursuit of opportunities in the medicinal cannabis space, with added exposure to the huge recreational cannabis market anticipated to open up in 2018.
• Enables Creso to vertically integrate its supply and production chain by building its own Good Manufacturing Process growing and extraction facilities.
