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- Creso Pharma (CPH) has been placed in back-to-back trading halts while it considers, plans, and executes a capital raise
- The pharmaceutical cannabis company will remain in the halts until October 7 or when the announcement is made, whichever occurs first
- On September 21, Creso Pharma announced its subsidiary, Mernova Medicinal, had received an initial purchase order of C$180,000 (around A$188,694) from the Nova Scotia Liquor Corporation (NSLC)
- The purchase is for two of Mernova’s premium strains, HPG13 and Lemon Haze, but more products will be added to the product line as they become available
- These products will be launched under the brand name Ritual Green and sold through NSLC’s stores and eCommerce platform
- Shares in Creso Pharma last traded for 3.8 cents on September 29
Creso Pharma (CPH) has been placed in back-to-back trading halts while it considers, plans, and executes a capital raise.
The pharmaceutical cannabis company will remain in the halts until October 7 or when the announcement is made, whichever occurs first.
Further, Creso Pharma is yet to disclose how much it intends to raise and what it will use the funds for.
On September 21, Creso Pharma announced its subsidiary, Mernova Medicinal, had received an initial purchase order of C$180,000 (around A$188,694) from the Nova Scotia Liquor Corporation (NSLC).
The purchase is for two of Mernova’s premium strains, HPG13 and Lemon Haze, but more products will be added to the product line as they become available.
These products will be launched under the brand name Ritual Green and sold through NSLC’s stores and eCommerce platform.
Creso Pharma last entered a trading halt in May 2020 ahead of a $2.14 million capital raise.
Just under 36 million new shares were issued to new and existing sophisticated and professional investors at six cents each.
The company stated it would use the funds to accelerate growth across its existing CBD product lines, pay outstanding debt, and for general working capital.
Shares in Creso Pharma last traded for 3.8 cents on September 29.
