- Creso Pharma’s (CPH) Canadian subsidiary, Mernova Medical, has received a second purchase order from Nova Scotia Liquor Corporation (NSLC)
- The order is valued at C$138,960 (roughly A$146,870) and is for HPG13 and Lemon Haze which are two premium cannabis strains
- These strains are sold under Mernova’s Ritual Green brand with products now being sold across NSLC’s eCommerce platform and stores
- The first order was announced last month and the products have since generated strong sales and received positive feedback from customers
- Creso Pharma expects to receive more orders over the coming weeks and is planning to ramp up production to meet the demand
- Creso Pharma ended the day with shares trading 6.45 per cent higher for 3.3 cents
Creso Pharma’s (CPH) Canadian subsidiary, Mernova Medical, has received and delivered its second purchase order from Nova Scotia Liquor Corporation (NSLC).
NSLC is operated by the Government of Nova Scotia and is the only distributor of retail recreational cannabis in the province.
This order is valued at C$138,960 (roughly A$146,870) and follows on from the first NSLC order which was received around three weeks ago. The initial order was valued at C$180,000 (roughly A$190,228) and included the purchase of two premium strains: HPG13 and Lemon Haze.
These strains are sold under Mernova’s Ritual Green brand which is now being sold to consumers across NSLC stores and its eCommerce platform. So far, the products have generated strong sales and received positive feedback.
As a result of this, the latest order is for HPG13 at 20 to 25 per cent tetrahydrocannabinol (THC) and less than one per cent cannabidiol (CBD), and Lemon Haze at 20 to 25 per cent THC and less than one per cent CBD.
Creso Pharma believes the follow-up order is a testament to the success of the Ritual Green brand. The company also expects that additional orders will soon follow over the next few weeks and NSLC will become a loyal, recurring revenue stream.
“Our products are seen as very high quality, and we are confident that the launch of initial strains under the Ritual Green brand will help position Mernova as a leader in the production of locally grown, artisanal cannabis products, and lead to recurring purchase orders from the NSLC,” Mernova Managing Director Jack Yu said.
“We will continue to ramp up production, and adjust our planning and grow scheduling, which will allow us to meet the supply chain demands of the NSLC and other provincial purchasers,” he added.
Creso Pharma ended the day with shares trading 6.45 per cent higher for 3.3 cents.