- Creso Pharma (CPH) is looking to change its name to Melodiol Global Health to reflect its growth strategy
- Also as part of this strategy, Creso welcomes two new directors to its board following the resignation of Non-Executive Director and Founder Adam Blumenthal
- Ben Quirin and Jodi Scott reportedly bring extensive global experience to the company, which Creso will leverage to expand its international presence and drive product development
- Company shares closed 10 per cent lower at 3.6 cents
Creso Pharma (CPH) has announced it will be changing its name to reflect its rebranding and growth strategies.
The medicinal cannabis company has proposed to change its name to Melodiol Global Health, a decision that stemmed from some recent acquisitions and is part of the company’s goal to expand across the US and other key markets.
Creso Pharma will need to secure shareholder approval for the name change, which it will seek at an upcoming general meeting.
The company has also welcomed two new directors following the resignation of Non-Executive Director and Founder Adam Blumenthal.
Ben Quirin has joined the company as a Non-Executive Director. Mr Quirin brings 20 years of global experience in the telecom, technology and pharmaceutical sectors.
He also brings valuable expertise in the cannabis sector after being the Managing Director of Canopy Growth which, based on market cap, was the world’s largest cannabis company in early 2019.
Creso will leverage his experience to drive product and brand growth in different markets, with a particular focus on the Asia-Pacific region.
The company has also appointed Jodi Scott as Executive Director, as part of the recent acquisition of Sierra Sage Herbs.
Ms Scott has reportedly been “imperative” in establishing Sierra Sage Herbs and growing the group’s sales.
Creso Pharma said Ms Scott’s networks in the US and her expertise in product development, manufacturing and the North American market will be useful for the company.
CPH Managing Director William Lay said it was a pleasure to welcome Ben and Jodi to the board.
“Having worked with Ben previously at Canopy Growth, I have witnessed first-hand his ability to grow brands and products in new and emerging markets. Jodi’s appointment also solidifies the importance of SSH as one of the company’s major operating divisions,” Mr Lay said.
Creso Pharma said it was confident the new board appointments and change of name would provide a “strong foundation” for future merger and acquisition opportunities.
Company shares closed 10 per cent lower at 3.6 cents.