Medical cannabis company Creso Pharma has announced further progress on its path of gradual growth and expansion with this morning's news that it has strengthened its market presence in Israel and the Middle East via a commercial agreement with SuperMedic.
The deal will see Creso's cannaQIX range of hemp-based products launched, marketed and distributed in multiple Middle East countries with the additional nutraceutical products also made available for sale.
The first line of products will be based on hemp seed oil to comply with existing Israeli regulations and to remain within the remits of its operating licence. According to the terms of the deal, Creso and SuperMedic have agreed to commence their commercial relationship by launching a product that raises awareness of the cannQIX brand.
The cannaQIX range of products for the Israeli market are hemp seed oil-based nutraceuticals using Creso's proprietary delivery technology and containing organic hemp seed oil with vitamins and zinc.
The deal between Creso and SuperMedic adds yet another notch to its development path which has already seen several milestones achieved so far this year.
The construction of Mernova Medicinal's cannabis growing facility, the completion of Creso's acquisition of Kunna S.A.S. in Columbia and Creso's decision to appoint a Chief Operations Officer for the Americas in June, are all "important milestones" in Creso's stated strategy to expand its presence in North and South America – two leading markets for the cannabis industry forecasted to be worth around US$48 billion combined, by 2028.