Cannabis company Creso Pharma announces New Zealand distribution agreement

The Motley Fool, By James Mickleboro, Aug. 6, 2019

The Creso Pharma Ltd (ASX: CPH) share price could be on the rise this morning after the cannabis company released a positive update.

What did Creso Pharma announce?

This morning Creso Pharma announced the signing of a comprehensive distribution agreement with Medleaf Therapeutics for the exclusive distribution of Creso’s cannaQIX 50 and 10% CBD Oil in New Zealand.

CannaQIX 50 is Creso Pharma’s proprietary buccally formulated cannabidiol lozenge which is designed to support the management of chronic pain.

According to the release, the agreement is effective until December 31, 2022 and expands the range of medicinal cannabis products which MedLeaf initially anticipated to source through Creso Pharma. It includes minimum purchase targets and Creso can terminate the agreement with six months’ notice if these targets are not met. …

This announcement is just the latest in a series of positive developments in the industry this year from Creso and rivals such as Althea Group Holdings Ltd (ASX: AGH) and Auscann Group Holdings Ltd (ASX: AC8). This could make it worth keeping a very close eye on the industry in FY 2020.

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