FOR SOPHISTICATED AND PROFESSIONAL INVESTORS ONLY - Creso was created to bring pharmaceutical expertise and methodological rigour to the world of cannabis and deliver quality products to people and animals everywhere
Creso was created to bring pharmaceutical expertise and methodological rigour to the world of cannabis and deliver quality products to people and animals everywhere. Founded by a team of highly-experienced pharmaceutical executives, Creso set out to leverage cutting edge science and research to develop, register and commercialise innovative cannabis and hemp derived products.
Creso has commercialised a range of products in human and animal health and has nine new products across both portfolios ready for launch in 2020. It has distribution agreements in a number of countries including Australia, New Zealand, the UK, South Africa, Switzerland, Brazil, and Israel.
Creso owns a 24,000sq ft fully GMP cannabis growing facility in Nova Scotia, Canada and has been granted a processing licence from Health Canada. First revenues from Mernova commenced in July 2019 and the facility is approaching full production capacity.
Please refer to the Company's ASX announcements for further information about the Company.
- The issue price is A$0.06 (6 cents) per share to raise an estimated minimum of A$1.25 million, accepting oversubscriptions up to an aggregate maximum of A$2.097 million
- Issue price is:
- 14.5% discount to the 10 day VWAP
- 15.5% discount to the 30 day VWAP
- $400k of the placement is cornerstoned as follows:
- $100k combined by Creso Pharma’s Board of Directors (subject to shareholder approval)
- $300k by two US institutional investors
- Group revenues for Q1’20 amounted to A$1.153M, compared to A$151k for Q1’19
- Mernova senior management team strengthened with the appointment of Jack Yu as Managing Director and Isaac Allen as Vice President (both ex- Canopy Growth)
- Flagship cannaQIX® product line exceeds 2.5 million lozenges sold globally – representing over 100,000 packs sold since its launch in April 2018
- Development underway of a new hemp-derived animal health product targeted at equines and large animals – launch planned for H2 2020
- New CBD hemp tea to be available in Q3 2020 – further extending the cannaQIX product line
Term Sheet and Application Details will be emailed to Wholesale investors.