Creso Pharma
ASX-listed Creso Pharma has entered the Canadian market with its Green Goo product line, with sales through Amazon expected to begin before year's end.
The brand, which sits within the Sierra Sage Herbs business acquired by Creso earlier this year, covers beauty, personal care and first aid products.
A dedicated Canadian e-commerce site is now live and generating what the company described as "pleasing sales volumes", with the Amazon Canada rollout also anticipated within the current quarter.
Creso said it is in "advanced discussions" with traditional retail groups about carrying the Green Goo range in stores.
Chief executive William Lay called the Canadian launch a "logical progression" for the Sierra Sage Herbs business.
"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."
Separately, the company's wholly-owned Canadian subsidiary Mernova Medicinal has obtained Health Canada approval for an amended licence that now covers the sale of cannabis extracts, electric vaporisers, edibles and topicals.
The updated licence expands on Mernova's existing sales authorisation and opens the door to selling its craft cannabis products directly through all approved provincial partners and medicinal channels.
The company intends to use the licence to move into provincial markets that had previously been off-limits due to its contract manufacturing arrangements.
CEO and managing director William Lay said the development gives the company 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.
Bod Australia
Health & Happiness (H&H) chief technology officer Hanno Cappon has stepped down as a non-executive director of Bod Australia after H&H's shareholding in the cannabis company dropped below a key threshold.
An agreement between the two companies stipulated that H&H's board representation would reduce from two directors to one if its stake fell below 10%.
That threshold was breached following Bod's recent capital raise.
Cappon had been on the Bod board since July 2021.
H&H's chief strategy and operations officer Akash Bedi now remains as the sole H&H-appointed director on the board.
Bod said it will "continue to assess additional director candidates".
Cronos Australia
The ASX has informed Cronos Australia that it is no longer required to file quarterly financial reports, a change made possible by the company's sustained profitability.
ASX listing rules had required the company to submit reports every three months since it listed in November 2019.
After recording several consecutive quarters of positive trading, Cronos applied to have that obligation removed.
"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."
