AUSTRALIAN-LISTED medicinal cannabis company Creso Pharma continues to grow its presence overseas, this time taking its first steps into the lucrative Canadian cannabis market.
Creso and Canadian cannabis producer Mernova Medicinal have inked a deal that will see Creso acquire the Nova Scotia-based production company for A$10.2m worth of cash and equity.
The deal will allow Creso Pharma, which has offices in Perth, Sydney and Switzerland, to produce its own medicinal cannabis products in Canada, a country already known for allowing the export of medicinal cannabis products into the Australian market.
Under Canadian legislation Creso would also be able to export to a number of other countries that accept medicinal cannabis imports.
Canada also anticipates legalisation of cannabis for recreational use from 01 Jul 2018.
The above article was sent to subscribers in Pharmacy Daily's issue from 28 Jul 17
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