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Creso Pharma granted back-to-back trading halts ahead of capital raising news

Mernova’s retail cannabis brand ‘Ritual Green’ will be launched and sold through the NSLC’s stores and e-commerce platform while retail sales through other province stores and online platforms may follow.

Creso Pharma Ltd - Creso Pharma requests back-to-back trading halt ahead of capital raising
Creso Pharma is continuing to provide regular updates on both retail and wholesale sales

Creso Pharma Ltd (ASX:CPH) (FRA:1X8) has been granted a back-back trading halt by the ASX while the company plans and executes a capital raising.

The trading halt will remain in place until the beginning of trade on Wednesday, October 7, or when an announcement is released to the market, whichever occurs earliest.

First retail order from Nova Scotia

On September 21, the company’s wholly owned subsidiary Mernova Medicinal Inc received an initial purchase order worth C$180,000 from the Nova Scotia Liquor Corporation in Canada for two of its premium strains, HPG13 and Lemon Haze.  

This milestone marks the imminent launch of Mernova’s Ritual Green brand of high-quality cannabis products into Canada’s rapidly growing recreational markets.

The NSLC is operated by the Nova Scotia Provincial Government and is the sole distributor of retail cannabis in the province of Nova Scotia while Mernova is a licensed producer in the province.

Entering Canada’s retail markets diversifies Mernova’s revenue streams and builds on an established and growing wholesale product sales pipeline. 

Quick facts: Creso Pharma Ltd

Price: 0.21 AUD

Market: ASX
Market Cap: $199.37 m

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