Creso Pharma's (ASX:CPH) wholly-owned Canadian subsidiary, Mernova Medicinal Inc., has been accepted to list seven new products in Nova Scotia and is testing dried flower batches with high total THC content, higher than the estimated industry average of 15%.
This acceptance and testing of high THC content has the potential to increase sales and provide Mernova with a competitive advantage against local and other competitors.
The new products are expected to arrive in the distribution centre on February 17, with a target date for the products to be in the market of March 13.
Creso Pharma has also issued ordinary fully paid shares in the capital of the company without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth).
The company has complied with the provisions of Chapter 2M of the Act and section 674 of the Corporations Act.