Creso Pharma's Subsidiary Secures $248,000 in Purchase Orders

A series of new purchase orders for Creso Pharma's (ASX:CPH) subsidiary, Mernova Medicinal, have secured the company over $248,000 and access to brick and mortar stores in New Brunswick.

Today, Creso Pharma Limited (ASX:CPH) announced that its wholly-owned Canadian subsidiary, Mernova Medicinal Inc. secured four new purchase orders worth A$248,682 of three separate strains of dried cannabis flower.

Mernova's dry cannabis flower was sold under the Ritual Green brand, and one of the orders was by Cannabis NB, the government-owned retail cannabis monopoly in the Atlantic Canadian Province of New Brunswick.

Cannabis NB's purchase order opens up Mernova to NB's 20 brick and mortar stores in New Brunswick as well as placing Mernova's products upon its digital platform.

Additionally, Mernova received two purchase orders from the Nova Scotia Liquor Corporation worth A$105,9231, one of which was for Mernova's Black Mamba strain, the latest premium quality offering to be sold under the Ritual Green brand.

Finally, the last purchase order was received from the Yukon, valued at A$44,9031, including a repeat order from Triple J's Canna Space and the first order from the Herbary.

According to Creso Pharma's latest press release, "Mernova advises that it continues to witness significant demand for its Ritual Green product range with a number of large retail locations across Canada currently being sold out, or having been sold out, of some, or all products. The Company expects a number of new POs to materialise in the coming weeks to satisfy the strong consumer demand."

The Company also states that it will offer hash products in future which will be sold under the Ritual Black brand, as well as pre-roll joints to be sold under the Ritual Sticks brand.

To receive our first PO from the Province of New Brunswick, as well as additional POs from the NSLC and the Yukon, is a great way for Mernova to start the year, and shows that 2021 should be promising for us.Mernova's Managing Director, Jack Yu

"New Brunswick is proving itself to be a rapidly growing market, with strong demand for cannabis, and we are excited to have Ritual Green products for sale online, and in stores province-wide," said Jack Yu.

"Sales in the Yukon are proving to be stronger than anticipated, with Triple J's Canna Space selling out of all Mernova products purchased in their initial order. We expect this trend to continue, given the high demand for our products, and look forward to filling a number of new POs expected

"In a major development, we are also excited to have launched our Black Mamba strain. We are very excited for our customer base to try our latest premium quality Ritual Green offering. There has been great interest in this strain, and we expect Black Mamba to be as well-received as the rest of the
Ritual Green family of products."

"These latest POs show that our Ritual Green brand products continue to gain traction and that we are developing a reputation for quality. Product sales on a province-by-province basis are progressing well, and we look forward to the imminent launch of our Ritual Sticks, and Ritual Black
brands. We are just getting started."

To learn more about Creso Pharma, visit the company HQ here.

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Louis O'Neill
Louis O'Neill

Louis is a writer based in Sydney with a focus on social and political issues. Having interviewed local politicians and entrepreneurs, Louis now focuses on cannabis culture, legislation & reform.