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 is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including 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 in financial planning for over six years with leading wealth managers and in real estate.