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

Interviews

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 presents the Market Outlook and company news. She joined FNN in January 2017. She has been in broadcast journalism for over five years. She has worked as a journalist with Sky News Business, ABC 1 and ABC24. She has also worked in regional Australia for Prime 7 and WIN News. She is also a qualified financial planner and a Masters of Applied Finance student.