ASX-listed Creso Pharma has launched its range of Green Goo products in Canada with sales expected to begin through Amazon before the end of the year.
The brand, part of the Sierra Sage Herbs business acquired by Creso earlier this year, includes beauty, personal care and first aid products.
A dedicated Canadian e-commerce website has gone live with “pleasing sales volumes” while products are also expected to be sold through Amazon Canada during the current quarter.
Creso said “advanced discussions” were also underway with traditional retail groups over stocking the Green Goo range.
Chief executive William Lay described the Canada launch as a “logical progression” for Sierra Sage Herbs.
“The initial product launch is already yielding… pleasing revenue,” he said. “We anticipate that the pending launch on Amazon may underpin additional sales growth, while management continues to pursue ranging agreements with major retail groups across the country.”
Meanwhile, the firm’s wholly-owned Canadian subsidiary Mernova Medicinal has received Health Canada approval for an amended licence permitting the sale of cannabis extracts, electric vaporisers, edibles and topicals.
The amendment builds on Mernova’s original sales licence and gives it the opportunity to sell its craft cannabis products directly through all approved provincial partners and medicinal channels.
It will use the licence to enter new provincial markets it was previously unable to access due to contract manufacturing relationships.
CEO and managing director William Lay said the move provides the company with a “significant opportunity… to continue growing in the premium, craft cannabis space”.
Creso shares on the ASX are currently trading at A$0.027, down 32% over the past month. The company has a market capitalisation of $49.57 million.
Health & Happiness (H&H) chief technology officer Hanno Cappon has resigned as a non-executive director of Bod Australia following a fall in H&H’s stake in the cannabis firm.
Under an agreement between the two companies, the number of directors appointed by Bod’s distribution partner would fall from two to one if the shareholding fell below 10%.
It dipped below that threshold following Bod’s recent capital raise.
Cappon joined the Bod board in July 2021.
It leaves chief strategy and operations officer Akash Bedi as the sole director appointed by H&H.
Bod said it will “continue to assess additional director candidates”.
Cronos Australia has been told by the ASX that it no longer needs to report quarterly results following sustained profitable trading.
Under ASX rules, the company has released reports every three months since listing in November 2019.
But following several quarters of positive trading, Cronos applied for the requirement to be lifted.
“The company advises that the ASX has now confirmed that it has exercised its discretion to allow the company to be relieved of its obligations to file further quarterly reports,” it said.
Chief executive Rodney Cocks said: “The decision of the ASX is based on the positive net operating cash flows that the company has worked so hard to achieve.
“The company remains committed to providing its various stakeholders with details of its activities and the progress it is making to further grow its business and create shareholder value.”