Creso falls under pharmaceuticals, biotechnology & life sciences industry group and is engaged into registering, developing, and commercialising pharmaceutical-grade cannabis and hemp-based products.
On its agreement with TerrAscend:
To meet consumer demand for cannabis product, the company has committed a big portion of its capacity to TerrAscend by singing three-year supply agreement with TerrAscend Canada. As a home-grown Nova Scotia cultivator, the company expects to receive preferred placement, Creso is in ongoing discussions with the NSLC (Nova Scotia Liquor Corp) retail network. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
‘In its quietly building a diverse global enterprise and strategic plan the company is ticking off each step. The company’s proprietary branded products such as Creso’s CBD based anibidiol in human and Nutraceuticals cannaQIX and animal health only few cannabis companies are currently commercial in countries across Europe, said John Griese, Creso Chief Operating Officer.
Out of their Windsor Nova Scotia facility, the company has recently completed a greenfield, state-of-the-art build. The building is designed to operate at the peak of efficiency and is built to GMP standard. Capable of expanding to 200,000 square foot of growing space is the 24,000 square foot facility which is on a land parcel.
With the capacity to yield more than 4,000 kgs of cannabis annually, it currently accommodates a two-tier grow room structure.
Chief Executive Officer of TerrAscend, Dr. Michael Nashat, commented ‘To support the imminent regulations of infused edible products, the raise will also fund the phase two expansion of value-added production in Windsor Nova Scotia. To support TerrAscend’s growth route and commitment to the best-in-class formulations and products the company’s state-of-the-art production facility makes them an ideal partner.’
Because of a long history of positive conversations with TerrAscend is this agreement. The revenues confirm a successful entrance into the Canadian cannabis space for their dried flower supports. As quoted by the Chief Executive.
About Creso Pharma:
The company’s product swiss made novel has the full spectrum, hemp-based products produced and developed in Switzerland for global distribution and the offering includes Lifestyle, Topicals, Human Therapeutics, Nutraceuticals, and Animal Health. The company launched and sold in Switzerland, UK, NL Human Health nutraceutical products. Further expansion into 14 additional countries in progress with animal Health complementary feed products launched and sold in Switzerland. GMP manufactured with certified Swiss Made labels. With high absorption and bio-availability, the company has provided innovative Delivery Systems. Creso has market authorizations in place with health authorities. It requires no need for prescription with medical and OTC access. The pipeline of unique products in advanced development.
The company has access to advanced Swiss-made human and animal edible product technology and branding with opportunities for licensing, importation, product development, and co-branding. The company engages experts with a staff of scientists with experience in drug innovation, clinical treatment, and commercialization in biomedical research, pharmaceutical R&D. For supply, the company has opportunities to import low-cost product from Colombia and Israel and availability to supply flower in 2019.
The distribution provides access for Canadian products in Europe MD Network and has global reach through distribution partners and global licenses. The company has not just well developed European medical network but also licenses in South America – access to SE Asia. It has existing products, tech capabilities & a vast product pipeline. The company currently holds a clean balance sheet with zero debt.
Global partners include Virbac Group, Domaco, Pharmacare Europe, Doetsch Grether, and Mediphos.
The Creso Pharma Limited ACN 609 406 911, recently announced the private placement with EverBlu Capital as a lead manager. To raise an estimated minimum of A$3 million through the issue of 6,666,667 Fully Paid Ordinary Shares in the company by private placement is the company’s indicative placement type and size. The company can accept oversubscriptions, and in the placement offer, 1 Option for every 3 Shares will also be issued to investors.
With an exercise price of A$0.80 per share and expiring on 21 August 2020, the placement options are expected to be listed under the same terms as existing listed company options. The Indicative Issue Price is A$0.45 per Fully Paid Ordinary Share. 16.7%% to the last close Price of A$0.54 on 21 January 2019, 16% to the 5 Day VWAP and 16.4% to the 15 Day VWAP, are represented by the issue price the following discounts to the following ASX market prices per share.
The company’s dual listing on the TSXV is expected to be completed in Q1 2019. For the company’s 24,000sq ft fully GMP cannabis growing facility in Nova Scotia, Canada, the company Creso has applied for a production license. With five licenses granted to cultivate, process and export medical cannabis Creso’s Colombian acquisition is complete. The company is commercializing cannaQIX and the anibidiol® range products with Pharma partnering companies and with global veterinary pharma company respectively.
The current shares on Issue are 124,187,665 and current listed options on Issue are 55,142,710 and the expected placement opening date is 9 am, 22 January 2019 with shares and options to be issued on 29 January 2019. The performance shares are 1,909,093 and performance rights are 14,896,000.
It indicates that the funds will be used for supporting the sales and Marketing of existing products in Europe, marketing and sales in Canada, to repay a portion of the debt, Working Capital, the expenses of the placement but can alter the same. The current listed options on Issue are 55,142,710 and current unlisted options on Issue are 7,926,250. The indicative new options to be Issued pursuant to the placement are 2,222,222 and the indicative total options on Issue at Completion of the placement 65,291,182.
Creso Pharma Limited (ASX: CPH) traded flat on the day as at January 22, 2019, and the current price is $0.540. The market capitalization as at January 22, 2019 stands at $67.06 million. The performance for the last one month has been 50.00% and the performance for last six months has been negative 18.18% and last one year it has been -48.08%.
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.