Creso Pharma Ltd’s (ASX:CPH) (FRA:1X8) wholly-owned Canadian subsidiary Mernova Medicinal Inc has received and delivered a second purchase order valued at C$138,960 from the Nova Scotia Liquor Corporation (NSLC).
The NSLC is operated by the Nova Scotia provincial government and is the sole distributor of retail recreational cannabis in Nova Scotia with the new order highlighting strong product demand in the Canadian recreational market.
It follows an initial order from the NSLC valued at C$180,00 for two of Mernova’s premium strains, HPG13 at 20-25% THC and <1% CBD, and Lemon Haze at 20-25% THC and <1% CBD, sold under the Ritual Green brand.
“Recurring purchase orders”
Mernova managing director Jack Yu said: “The second purchase order in as many weeks from the NSLC reinforces the significant demand that we are witnessing for our retail product offerings, and further highlights Creso Pharma and Mernova’s potential as a supplier to a rapidly growing recreational market.
“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.”
The Ritual Green recreational products now being sold through the NSLC’s stores and e-commerce platform with initial products being well received and generating strong sales.
“Launching new strains”
Mernova is ramping up production to meet increasing demands with additional POs expected in the near term.
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.
“Additional purchase orders and the launch of new strains are anticipated in the near term, and I look forward to updating shareholders upon these launches and additional sales.”