Creso Pharma has secured another wholesale purchase deal from Univo
Information
7th October 2020

Creso Pharma has secured another wholesale purchase deal from Univo

Isai Allison
Creso Pharma has secured an over six hundred thousand US dollar purchase order from Univo. Univo, Israel's pharmaceutical company has worked with Creso before the present deal, this is their second purchase order. Dried and hand cropped medicinal cannabis flowers will be sent to Israel. The deal will see an expansion of Creso's market into the fast-growing Israeli market. Creso Pharma which is fully owned by the Canadian Mernova Medicinal Ltd will leverage this opportunity for its cannabis market. The buyer has permits for the whole chain of supply for medical cannabis ranging from cultivation to disposal at the retail level.

Creso's CEO Dr

Creso's CEO Dr. Halperin stated that the buyer has links to various pharmacies and patients in Its country. The deal will provide significant growth potential for his company in Israel. It is a good growth opportunity for the company to continue penetrating the market with its hand dried cannabis flowers. He continues to state that the deal with Univo has proven that its product is of good quality. Israel is identified as an expanding market for medicinal cannabis and the continued demand shows product satisfaction by the consumers.

Creso Pharma has secured another wholesale purchase deal from Univo

Payment will be made in stages with an initial twenty-five percent being paid in cash after export license approval by Health Canada. This will be followed by another twenty-five percent paid after receipt of the product at the airport. The remaining half of the payment will be made within thirty working days of the product delivery to Univo's factory in Israel. This delivery process of the goods is expected to be complete within one month upon acquisition of an export license from Health Canada. A delay in export license approval can delay the entire process but it cannot go beyond two months.

Mernova Medicinal ltd is looking into solidifying its Canadian retail and wholesale selling platforms. This is one of its projects and the launch expected to happen in the near term. Dr. Halperin said that the launch will be inspiring progress for the company at large.

The company is doing research on how to enter the Canadian consumer chain for various spurs for its awaited launch. It will be a great opportunity for Mernova to penetrate the local consumer chain as it will be like a smooth business without the need for export permits and other business procedures that are needed for export. Medicinal cannabis finds use in a prescription for various medical reasons.

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