Creso Pharma's wholly-owned Canadian subsidiary, Mernova Medicinal has secured fourteen new cannabis strains to support and increase growing customer demand for the Company’s craft cannabis products.
"The new plant genetics are expected to add to and improve upon the already high quality of Mernova’s current offerings," the Mernova team explains. "The new strains were secured from a Health Canada licensed supplier and the first plants are currently being grown at the Company’s state of the art facility in Nova Scotia."
The strains will be introduced and sold under Mernova’s current brand offerings, including the Ritual Green and Ritual Sticks brands, as well as additional Ritual brands to be launched in the future.
The introduction of these new strains follows considerable due diligence and market research undertaken by the Company. Each of the new strains were selected for quality and high-THC - with those received as live plants having a claimed THC content of between 20% and 34% - and they will be used to better target consumers seeking high quality, high THC products. The Company is confident that the new products will further build on Mernova’s strong brand recognition in the highly competitive Canadian market.
"Mernova is continuing to receive strong demand for its craft cannabis products across Canada. The Company is anticipating the receipt of a number of new purchase orders in the near term, as well as pursuing expansion opportunities with new and existing provincial partners."
Mernova’s Managing Director, Jack Yu said: “We acquired these new strains to ensure our competitiveness now and into the future. We have been seeking new genetics for awhile, so to be able to acquire strains of this quality, is very exciting. While the testing and growing out of the new strains continues, we are continuing work on product development initiatives to ensure that both Ritual Green and Ritual Sticks products containing the recently acquired genetics, are of the highest quality. “We have continued to witness strong demand for our current high-quality offerings and expect that the introduction of these new strains will further increase our brand recognition and sales, across Canada. Broadening our selection of offerings should also position us well for any potential US market expansion initiatives, and allow Mernova to potentially capture a share of what will potentially be the world’s largest cannabis market. Having more arrows in our quiver, so to speak, is always preferred.”