Creso Pharma (ASX: CPH)
It has been a major month for Creso Pharma (ASX: CPH) as it continues to make potentially market moving announcements.
Its most recent announcement refers to an exclusive commercialisation agreement with the highly reputuable pharma company Doetsch Grether to market and distribute CPH’s cannaQIX®10 in Switzerland and Liechtenstein.
CPH has obtained the necessary approvals to market this hemp based nutraceutical product as a Food Supplement compliant with Swiss Federal food law.
The deal opens the gateway for CPH’s global commercialisation, as Switzerland is globally recognised as a reference country for regulations, quality and market.
An oversubscribed capital raising of A$15.5 million, with an additional minimum A$2 million to come via an SPP, will help CPH roll its products out globally, and accelerate the build of its cannabis growing facility in Nova Scotia Canada where construction has already started.
The funds will also help strengthen CPH’s position in the highly lucrative and growing hemp and cannabis Edibles space.
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Edibles could be a big market for CPH and it has already signed a partnership with Aeschbach Chocolatier, a Swiss high-end chocolate and confectionery company that has a significant presence in Europe, to create a range of unique, terpene infused premium Swiss chocolates.
CPH has also entered a JV arrangement to develop cannabis and hemp derived alcoholic and non-alcoholic beverages with Baltic Beer Company Ltd and LGC Capital Ltd (TSX-V: LG).
The news seems to be coming in at a constant flow and as CPH looks to roll out across Europe, Asia, North America and Australia, it seems we are witnessing the beginning of what could be a exponential growth in the global cannabis market.