Creso Pharma Limited’s (ASX:CPH) wholly owned, Canada-based subsidiary Mernova Medicinal Inc. has received an initial Purchase Order for the purchase of two of its premium strains, HPG13 and Lemon Haze.
A Licensed Producer in Nova Scotia, Canada, Mernova’s initial orders from the Nova Scotia Liquor Corporation (NSLC) are valued at C$180,000.
The NSLC is operated by the Nova Scotia Provincial government and is the sole distributor of retail cannabis in Nova Scotia.
This important milestone marks the imminent launch of Mernova’s Ritual Green brand of high-quality cannabis products into Canada’s rapidly growing recreational markets. Entering Canada’s retail markets diversifies Mernova’s revenue streams and builds on an established and growing wholesale product sales pipeline.
Mernova’s Managing Director, Jack Yu, said the company’s retail recreational cannabis products will be launched under the brand name ‘Ritual Green’ and will initially be sold through the NSLC stores and e-commerce platform.
The first product available to recreational customers will be Mernova’s high-quality dried flower in its natural form. Additional high-quality products will be added to the product line as they become available.
Mernova’s Managing Director Jack Yu said: “Receiving this initial PO is the first step to Mernova establishing itself as a trusted supplier of high-quality, locally grown, artisanal cannabis products to the NSLC.”
To meet the supply chain demands of the NSLC and other provincial purchasers, we are adjusting our grow scheduling, while simultaneously ramping up production of our highest quality strains” Mr Yu said.
“We plan on taking full advantage of this opportunity to build our brand and brand loyalty, in our home province of Nova Scotia and I look forward to providing further updates in the near-term.”
He said Creso Pharma will continue to provide regular updates on both retail and wholesale sales and on additional expansion opportunities available to Mernova across both the recreational and medicinal cannabis markets.
Mernova is also making considerable progress towards securing EU Good Manufacturing Practice (GMP) certification and further updates will be provided as this process advances.
