Creso Pharma Limited’s (ASX: CPH) wholly-owned Canadian subsidiary, Mernova Medicinal Inc., has become one of a select group of cannabis producers to be awarded Craft Designation by the Ontario Cannabis Store (OCS).
The OCS is a crown agency solely owned by the Province of Ontario. It reports directly to the Ministry of Finance and is the province’s only retailer and wholesaler of legal recreational cannabis.
The OCS has created a specific category for craft cannabis products available to consumers in Ontario. To qualify, dried-flower and pre-roll products must be hand-trimmed, hang-dried, and hand-packaged.
This designation is an important achievement for Mernova and will provide the Company with much broader visibility in a competitive market. This special designation also highlights the superior quality of Mernova’s products.
The company continues to achieve strong sales growth across Ontario. Currently, Mernova’s HPG13, Lemon Haze, and Clementine Punch strains are sold out across multiple dispensaries in the province.
Mernova’s Managing Director, Jack Yu, said Ontario represents a large addressable market for Creso Pharma. The province is one of the largest recreational cannabis markets in Canada and Mernova expects ongoing growth through the region.
Ritual Green products are currently available to over 600 stores in Ontario, and available to the public directly through the OCS online sales platform. Management are continuing to monitor potential patterns and shifts in the distribution of cannabis in Ontario, and are ready to adjust as necessary.
Our focus has always been on quality over all else and being awarded OCS Craft Designation is a direct result of this strategy,” Mr Yu said.
“To be one of the only companies to be awarded OCS Craft Designation in Ontario is major validation of the hard work and effort put in by our operations team, and the resulting artisanal quality of our products.
We do things the right way, combining science and artisanal methods to produce some of the finest cannabis available. We don’t compromise on quality, and we’re becoming recognized within the industry because of it.
“We are confident that this new category will help further differentiate us from the competition, enhance our brand, and provide increased brand exposure and brand awareness, which should result in much broader visibility within the market.”
“We are continuing to witness strong sales growth across all provinces, which is a testament to the quality of our products. We will continue to work with dispensaries and distributors on a province- by-province basis, in a push to maximise sales.”