Creso Pharma subsidiary plans to introduce new lines of super-potent pot
Health & Biotech
Health & Biotech
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Creso Pharma (ASX:CPH)’s Canadian subsidiary Mernova Medicinal is introducing 14 new cannabis strains as demand builds for its artisanal hang-dried craft products.
Mernova has secured new strains of cannabis from a Health Canada licensed supplier after considerable due diligence and market research – exactly what you’d expect from a company run by a dedicated cannabis connoisseur.
Four of the new strains were obtained in live plant form and have a claimed THC content of between 20 and 34 per cent – allowing Mernova to better target consumers seeking high-quality, potent weed.
The new genetics will add upon the already high quality of Mernova’s pot, which is sold under the “Ritual Green” brand and is gaining a dedicated following across Canada.
The strains will also be sold as “Ritual Sticks” (pre-rolled joints) and other “Ritual” brands soon to be launched in the future.
“We acquired these new strains to ensure our competitiveness now and into the future,” says Mernova managing director Jack Yu.
“We have been seeking new genetics for a while, so to be able to acquire strains of this quality is very exciting.
“While the testing and growing out of the new strains continues, we are continuing work on product development initiatives to ensure that both Ritual Green and Ritual Sticks products containing the recently acquired genetics are of the highest quality.”
Yu says that broadening the company’s selection of offerings will not only position Mernova well for sales across Canada, but also possibly in the United States.
The US House of Representatives on Thursday approved a bill containing several limited cannabis and drug reforms, with more far-reaching measures up for consideration soon.
(They would also need to pass the Senate, where they’ll face a tougher time, but there’s no question that cannabis legalisation is gaining steam in the US.)
“Broadening our selection of offerings should also position us well for any potential US market expansion initiatives, and allow Mernova to potentially capture a share of what will potentially be the world’s largest cannabis market,” Yu says.
“Having more arrows in our quiver, so to speak, is always preferred.”
This article was developed in collaboration with Creso Pharma, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.