Creso Pharma (ASX:CPH) acquires Canadian-based Mernova Medicinal


by Jessica Amir

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. 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She was a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked as a financial planner and real estate agent.