Cannabis company Creso Pharma Limited ( ASX: CPH ) announced the notice of general meeting which is to be held on 16th October 2018, at West Perth, Australia. It is to receive shareholder’s approval for completing the acquisition transaction with Kunna Canada Limited along with its Columbian wholly owned subsidiary Kunna S.A.S.
There have been several international Cannabis companies making an effort to pierce into Latin America market. Following this global trend of Cannabis companies, Creso moved to first execute the acquisition transaction with medicinal cannabis group Kunna Canada Limited in July 2018.
With this acquisition Creso becomes the only Australian-listed medicinal cannabis company that has the license to cultivate medical cannabis in Columbia and a direct exposure to Columbian market. This takeover is anticipated to result into the export of 40.5 tons and above of medicinal cannabis oil by 2019.
Creso Pharma is expected to complete the Kunna acquisition by mid-October 2018, subject to shareholder’s approval.
In an unaudited consolidated financial statement for the six-month ended 30 June 2018, the company posted net loss and comprehensive loss of US$94,379 compared to US$88,039 in previous corresponding period. As at 30 June 2018, unaudited balance of cash was $30, 292. CPH share price has gone up by 2.679% to $0.575 on 14 September 2018 (2:28 PM AEST). The stock has seen the performance change of -1.75% over the past one year.
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a company’s prospect.
One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”
ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.
Click here to get your free report.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.