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 the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.