Creso Pharma Ltd’s (ASX:CPH) (FRA:1X8) wholly-owned Canadian subsidiary Mernova Medicinal Inc has become one of a select group of cannabis producers to be awarded Craft Designation by the Ontario Cannabis Store (OCS).
Craft designation is for a select few craft cannabis products that meet the criteria to qualify and are available for Ontario consumers.
This designation is an important achievement for Mernova and will provide broader visibility in a competitive market while also highlighting the quality of Mernova’s products.
The OCS is a crown agency solely owned by the Ontario province and it reports directly to the Ministry of Finance.
It is the province’s only retailer and wholesaler of legal recreational cannabis and has created a specific category for craft cannabis products available to consumers in Ontario.
Validation of hard work
Mernova’s managing director Jack Yu said: “Our focus has always been on quality over all else and being awarded OCS Craft Designation is a direct result of this strategy.
“To be one of the only companies to be awarded OCS Craft Designation in Ontario is a major validation of the hard work and effort put in by our operations team, and the resulting artisanal quality of our products.
“We do things the right way, combining science and artisanal methods to produce some of the finest cannabis available.”
Strong sales growth
The company continues to achieve strong sales growth across Ontario and currently its HPG13, Lemon Haze and Clementine Punch strains are sold out across multiple dispensaries in the province.
Ontario represents a large addressable market for Creso Pharma as the province is one of the largest recreational cannabis markets in Canada and Mernova expects ongoing growth through the region.
Yu said: “We are continuing to witness strong sales growth across all provinces, which is a testament to the quality of our products.
“We will continue to work with dispensaries and distributors on a province-by-province basis, in a push to maximise sales.”
Ritual Green products
Ritual Green products are available to more than 600 stores in Ontario and available to the public directly through the OCS online sales platform (https://ocs.ca/).
The company’s management is continuing to monitor potential patterns and shifts in the distribution of cannabis in Ontario and is ready to adjust as necessary.
Yu said: “We are confident that this new category will help further differentiate us from the competition, enhance our brand, and provide increased brand exposure and brand awareness, which should result in much broader visibility within the market.
“We don’t compromise on quality, and we’re becoming recognized within the industry because of it.”
Story by ProactiveInvestors
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