ECS Botanics has completed its first shipment of dried cannabis flower to UK medicinal cannabis distributor Lyphe Group.
ECS has received purchase orders from Lyphe for the UK market totalling more than A$500,000, which will be fulfilled over the coming months as product becomes available from the current harvest. More orders are expected during CY2022.
The company said it expects the UK and Europe to become a significant market for it during 2022 and 2023. It is performing additional ICH stability testing, required for product registration in many EU markets, which it plans to complete in the next six months.
Creso Pharma is in the final stages of development for a new hemp-based lozenge product, based on cannabidiolic acid.
The new product will be commercialised and sold as a food supplement in Europe and Latin America, where the company has existing sales relationships.
Creso said it expects to have initial samples to promote during the current quarter, with product available soon afterwards.
CEO and managing director William Lay added: “We are confident that the development of this new hemp flour-based lozenge will become the basis for the company to launch another strong product range which can be sold across international markets.”
Creso also told the ASX its acquisition of Colorado-based consumer packaged goods company Sierra Sage Herbs, which will give it a foothold in the US CBD market, is on track to complete in late March or early April 2022.