Creso Pharma’s subsidiary Sierra Sage Herbs is broadening its geographical footprint into Canada as the company moves to be a leader in the North American cannabis OTC health product market.

The wholly owned US subsidiary of Creso Pharma (ASX:CPH) Sierra Sage Herbs (SSH) has broadened its international footprint following the launch of Green Goo products across Canada.

The Green Goo range includes beauty, personal care, first aid and animal products, and has been launched through dedicated Canadian ecommerce website www.greengoo.ca.

A total of 11 stock keeping units (SKU) are now being sold online in Canada. Creso CEO, William Lay said the website has already generated pleasing sales volumes, highlighting the product appeal and demand for Green Goo across Canada.

“The introduction of the Green Goo range in Canada is a logical progression for Sierra Sage Herbs,” he said.

“The initial product launch is already yielding units experiencing pleasing revenue, with multiple stock keeping considerable demand.”

 

Range to launch on Amazon

SSH is also preparing to launch the range through Amazon Canada in the coming weeks to increase additional exposure and sales growth.

In addition, the company is participating in advanced discussions with large traditional retail groups to stock the Green Goo product range across the country.

The expansion into Canada follows considerable work undertaken alongside the country’s regulatory body, Health Canada.

The company recently announced it had received approval from Health Canada for an amended cannabis 2.0 licence permitting the sale of cannabis extracts, electric vaporisers, edibles and topical products.

Following the success of Green Goo, SSH has also started an application with Health Canada to register its Southern Butter and Good Goo ranges for sale in the country.

The development highlights Creso’s ongoing commitment to broadening its geographical presence, and positioning Sierra Sage Herbs as a leader in the rapidly growing North American OTC health products market, which had a value of US$62.8 billion in 2021.

“We anticipate that the pending launch on Amazon may underpin additional sales growth, while management continues to pursue ranging agreements with major retail groups across the country,” said Lay.

 

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.

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