Creso Pharma Limited (ASX: CPH) develops and markets pharmaceutical-grade cannabis and hemp-based nutraceutical products along with the health treatments for human and animal in Australia, Canada, Israel, Colombia, and Switzerland. Its five key areas are Therapeutics, Animal Health, Nutraceuticals, Topicals, and Lifestyle.
In a recently announced annual report and highlighted about its current operations, new product line, financial statement, etc.
The group launched a new Joint Venture company with Baltic Beer Company and LGC Capital Limited on January 11, 2018. This development was intended to capitalize on the hemp-derived beverage and fast-growing cannabis markets. Creso Pharma came together with CLV Frontier Brands Private Limited on a JV to develop and commercialize a bespoke portfolio of cannabis as well as hemp-derived alcoholic and non-alcoholic beverages containing various ingredients such as terpenes, seeds, and extracts from cannabis and hemp plants.
With the United Kingdom-based Precision Healthcare Ltd, the company has secured a commercialization agreement to market and distribute Creso Pharma’s cannaQIX®10 and 50 hemp-based human health nutraceutical products in the UK on January 17, 2018. In the month of May, it entered into a binding agreement with Cohen Propagation Nurseries Ltd to access the strategically important Israeli medical cannabis market. With a Dutch company, Mediphos OTC Consumer Health BV, the company has signed a commercial agreement to distribute and market its cannaQIX® in the Benelux region, which is a CBD hemp-based human nutraceutical product.
In the month of June and July, Creso Pharma completed due diligence on Kunna Canada Ltd and Kunna S.A.S along with signing a commercial agreement with CB Distributors Limited (CANNZ Logistics) for the introduction of its unique CBD medicinal cannabis product cannaQIX®50 to New Zealand. To acquire 100% of Kunna Canada Ltd, and its wholly-owned subsidiary, medicinal cannabis group, Kunna S.A.S, the company has successfully completed its legal and technical due diligence.
In the month of August, the company signed a commercial agreement with the Hedoga Group to commercialise cannaQIX® in Austria and target Northern and Eastern European countries. The company also signed a commercial agreement with Pharmacare Europe based in the United Kingdom, to market and distribute its CBD hemp-based human nutraceutical product cannaQIX® in the United Kingdom and potentially in other European countries.
In October, the company signed a short-term Construction Finance Loan for A$2.7m to fast-track the completion of construction of the Mernova Medicinal Inc. facility in Canada.
In November, it signed an agreement with MedDepot Brazil for the import and delivery of Creso medicinal cannabis products in Brazil.
In December, it expressed its intention to dual-list on the Toronto Venture Exchange (TSX-V) Canada. The company completed the acquisition of Kunna Canada Ltd and its Colombian subsidiary Kuna SAS, which holds licences to cultivate, produce, manufacture, market and export cannabis derivatives and products using extracts in Colombia.
Creso Pharma has developed new products, which includes “cannaQIX®nite” to aid sleep, “cannaPEAL®” to introduce certain markets to the benefits of hemp seed oil-based products, and “cannaDOL®” to provide relief to athletes in the form of a topical application.
Under financial performance, its revenue increased by 136.1% to $578,222 in FY2018 from $244,910 in FY2017. Its other income increased by 57.55% to $153,358 in FY2018 from $97,341 in FY2017. Its net loss after tax increased to $16,845,686 in FY2018 from $15,076,076 in FY2017.
On stock information, at the market close on 4th April 2019, the stock of Creso Pharma was trading at $0.455, down 3.191%, with a market capitalization of ~$62.86 million. Its today’s high was noted at $0.475, and today’s low at $0.450 with daily volume of 323,566. Its 52 weeks high was noted at $0.885 and 52 weeks low at $0.300 with the average volume of ~309,800. Its absolute return of one year, six months, and three months are -34.72%, -13.76%, and -7.84%, respectively.
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.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.