Creso Pharma Limited (ASX:CPH) Chief Operating Officer John Griese provides an update on the company's product portfolio, including its joint venture with CLV Frontier Brands to sell terpene-infused beer under the brand name OBMJ (Old Boy Mary Jane).
Jessica Amir: Thanks for tuning into the Finance News Network. Today I’m joined by Creso Pharma Limited (ASX:CPH) Chief Operating Officer, John Griese.
Hi John and thanks for joining us from Southern California, and welcome to FNN.
John Griese: Hi Jess, it’s great to be here.
Jessica Amir: Firstly John, can you just walk us through the business?
John Griese: Creso Pharma is an Australian company that has a base of operations in Switzerland. We produce a number of different products for humans and animals. Our core product is called cannaQIX, it’s a nutraceutical and our animal product is called anibidiol. And that’s a complementary feed that’s provided to your pets. Our CEO and founder is a doctor and a scientist, and she surrounded herself with a number of highly technical advisers. Our aim is to produce pharma grade cannabis based products.
Jessica Amir: Can you tell us a little bit more about each of the categories: therapeutics, nutraceuticals, animal health and topicals?
John Griese: Therapeutics are really products that need to be delivered with the assistance of a physician. Typical therapies don’t always treat typical ailments and cannabinoid based therapies can sometimes help, when other strategies don’t work. Our cannaQIX50 is a therapeutic product that will be distributed in New Zealand, by the end of this year.
Our nutraceuticals are for more casual use and are considered over-the-counter products. They’re often used to treat stress and pain. Our cannaQIX10 is a product that’s used for that purpose, and it’s considered a food supplement. So it doesn’t necessarily need to go through all the regulatory requirements, of a medicinal product.
Our animal product anibidiol is similar to a cannaQIX, but designed specifically for animals. And it helps treat stress and anxiety in animals and also pain and discomfort for aging animals. And finally, our lifestyle products are more for the sheer enjoyment. So we have beverages and chocolates that are being introduced to the market today, as well.
Jessica Amir: So Creso Pharma isn’t a cannabis company?
John Griese: We’re primarily a CBD company derived from hemp, but we do have cannabis cultivation operations in Canada, Colombia and Israel. We’re a vertically integrated business with a very seamless supply chain. Eventually these cultivation operations will be providing raw ingredients, for both CBD and THC infused products, in our portfolio.
Jessica Amir: Now to your portfolio John, any new products on the horizon?
John Griese: We’ve got a lot of activity going on. I assume you’ve heard in the news of a lot of the acquisitions that have been taking place, between alcoholic beverage companies and cannabis companies. Constellation Brands (NYSE:STZ) made a big acquisition in Canada, Molson Coors (NYSE:TAP) made a big acquisition. Well Creso Pharma is actually ahead of the curve. We’re in a joint venture with a company called CLV Frontier Brands and we have a beer coming to market, in October. And it’ll be kicked off at the London Boutique Bar Show. So we’re really excited about our terpene-infused beer, that beer branding is called OBMJ, Old Boy Mary Jane and it’s a phenomenal product.
We’re also introducing a fine Swiss chocolate, it’s also infused with turpenes. And that’s with the partnership with Felchlin and the Felchlin Chocolatiers in Switzerland. Our state of the art cultivation facility in Nova Scotia will be introducing their brand of dried flower, called Ritual Green, in January of this year. And we have a number of other innovations in the pipeline that I can’t talk about right now. But it furthers our mission towards being an edible cannabis product leader.
Jessica Amir: How are these products all getting to the market?
John Griese: Creso Pharma has some incredible distribution partners. We’re doing business today with a company called Virbac (EPA:VIRP), one of the largest veterinary supply companies in the world. They currently distribute our anibidiol pet product throughout Switzerland. And we expect our relationship with Virbac to continue and to grow, and see distribution in other countries throughout Europe. We just signed an agreement with PharmaCare in the UK. PharmaCare is a large health products distributor. They’re going to distribute our products in the UK and we’re hoping to access the rest of their global network, over time as well.
Jessica Amir: Now to your finances John and the share price. How is the business tracking?
John Griese: We think we’re positioned extremely well right now. We get exposed to a lot of pure cannabis companies out there and we think we have a leg up. Creso Pharma has products in distribution today. We’re generating revenue; we’re in a number of countries around the globe. We have assets in Colombia, in Canada that are debt free. So we really feel strongly that Creso Pharma is of great value.
Jessica Amir: John Griese, thank you so much for the update and for joining us from Southern California.
John Griese: Thank you very much Jessica, thanks for having me.