budfoxfun
3 년 전
$COPHF Opportunity to Scale Recreational THC Offering Creso Pharma’s Mernova Medicinal Inc. is a licensed cannabis producer in Canada with Craft Designation from the Ontario Cannabis Store, and operates a facility scalable to 200,000 square feet. As the Canadian cannabis market continues to grow, The HighBrid Lab plans to conduct ongoing market reviews to expand Mernova Medicinal Inc.’s penetration and share.
The HighBrid Lab intends to take advantage of the relationships of its board and management team in the Canadian and US markets to pursue potential accretive acquisitions of US THC operators. Having a CSE-listed vehicle will allow the Combined Company to operate in line with state legislation and target US States where the adult use of cannabis is legal.
Recreational cannabis is legal for adult use in 17 states and Washington DC, and medical marijuana is legal in 36 states in the US, providing a number of near term, large market opportunities. In addition, The
HighBrid Lab plans to introduce Red Light Holland branded products within THC markets to continue building brand equity in advance of any potential future changes in the regulatory landscape for Psilocybin.
Trooperstocks
3 년 전
Full Press: Creso delivers second consecutive quarter of record revenue growth $COPHF
By Trevor Hoey. Published at Jul 1, 2021, in Small Caps
Creso Pharma Limited (ASX:CPH, FRA: 1X8) through its Swiss operations and wholly-owned Canadian subsidiary, Mernova Medicinal Inc. has achieved record sales growth for the June quarter.
This has added to the company’s growing revenue profile that has benefited from multiple purchase orders from various provinces, highlighting increased demand for Mernova’s products in Canada.
To date, Creso Pharma has generated a total of A$1,715,933 in revenue during the June quarter, which marks a 24% increase on the previous quarter (Q1 CY2021: A$1,385,000) and and a 451% increase on the previous corresponding period (Q2 CY2020: A$311,353).
The consistent quarter on quarter growth is underpinned by the strong demand for Mernova’s craft cannabis products and Creso Pharma’s animal and human health CBD products.
Mernova continues to aggressively pursue further near term sales opportunities prior to quarter end.
This provides confidence in the company's scalable recurring revenue model that will increasingly provide income visibility and predictability for the broader group.
Mernova has generated a total of A$1,040,454 in sales to date from purchases from various provinces including the Nova Scotia Liquor Corporation (NSLC), New Brunswick’s only legal cannabis retailer and the Yukon Liquor Corporation for its Ritual Green and Ritual Sticks pre-roll range.
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Robust demand for animal and human health products
The strong sales performance was assisted by increasing demand for Creso Pharma’s animal and human health CBD products.
Creso Pharma’s Swiss operations have contributed approximately CHF469,083 (A$675,479) to total quarterly revenue growth so far through the sale of the company’s high-quality CBD products for animals and humans.
Recent revenue growth is in line with the company’s strategy of increasing sales in existing key markets, ongoing international expansion and through the introduction of new products.
Creso Pharma has a positive outlook on sales growth, with the expectation that the Red Light Holland (RLH) merger could potentially provide multiple new near term market entries and scale-up opportunities
Enhanced regulatory conditions provide new opportunities
There has also been positive news on the regulatory front with Connecticut becoming the nineteenth state across the US to allow recreational cannabis use.
The state passed legislation on Tuesday, 22 June 2021, which allows people aged 21 and over to possess and consume marijuana beginning 1 July 2021.
The legislative shift is expected to lay the groundwork for a new cannabis industry in the state.
Government representatives anticipate that retail sales of recreational cannabis in the state will commence during 2022.
There has been movement in California as well as Senate Bill 519 (SB519) has now passed through the Californian State Assembly Committee on Public Safety, which is another pivotal step towards the legislation being enacted into law.
SB519 proposes that a wide range of psychedelic substances, including psilocybin, should be legal to use and possess for adults over the age of 21, as well as expunge prior criminal offences for use and possession.
The bill was introduced to progress a more health-focused approach to the use of psychedelic compounds and to address the current mental health crisis in the US. It also marks the ongoing push towards acceptance of psychedelic compounds as an alternative treatment route.
This provides another major market opportunity for Creso Pharma and Red Light Holland ahead of the potential merger to create The HighBrid Lab.
Both parties are currently exploring go to market strategies and opportunities to scale up Mernova’s offering to progress an entry into US markets.
It also favours acquisition target Halucenex.
The HighBrid Lab prepares to tackle US$41 billion US market
The US is anticipated to become the world’s largest cannabis market and reach a value of US$41 billion by 2025.
Creso Pharma is very well positioned through its operations and pending corporate developments to capitalise on this emerging market and unlock considerable value for shareholders.
Commenting on the outstanding sales growth and factors that are likely to provide sustained momentum, particularly in light of the proposed merger, non-executive chairman Adam Blumenthal said, “Recent sales growth across the group is very pleasing and provides a very strong foundation for the remainder of 2021 and beyond.
"We look forward to providing further updates on revenue growth from our existing operations through new product launches and ongoing international expansion efforts."
https://finfeed.com/small-caps/juniors/creso-delivers-second-consecutive-quarter-record-revenue-growth/
AddyStone
3 년 전
Latest news $COPHF - Increased revenue growth
Creso Pharma achieves second consecutive quarter of record
revenue growth
Creso Group revenue growth:
• Total revenue generated during the quarter ended 30 June 2021 (Q2 CY2021) of
A$1,715,933 – a 24% increase on the previous quarter (Q1 CY2021: A$1,385,000)
• Q2 CY2021 revenue marks a 451% increase on the previous corresponding period (Q2
CY2020: A$311,353)
• Strong sales growth witnessed through Swiss operations and wholly-owned Canadian
subsidiary Mernova Medical Inc.
• Multiple purchase orders (“PO”) from various provinces highlight increased demand for
Mernova’s products in Canada and scalable recurring revenue model
• Creso has a positive outlook on sales growth, with potential Red Light Holland (“RLH”)
merger providing multiple new near term market entries and scale up opportunities
• Sales growth represents the second quarter of consecutive record revenue for the Creso
Pharma Group
• Ongoing growth demonstrates Company’s strategy to create consistent revenue
generation across all business divisions
https://clients3.weblink.com.au/pdf/CPH/02390527.pdf