Through its partnership with Health House International Pty Ltd (Health House), Creso was the first company to successfully import medicinal cannabis products into Australia under the new Federal Government legislation. The company continued to expand its partner network with the company announcing it has signed a Letter of Intent (LOI) with Cannapharm AG, a Swiss based medicinal cannabis producer, for the exclusive distribution rights of its medicinal cannabis products to seven counties throughout Asia Pacific and Latin America. The products may be branded as Creso Pharma products. After successfully registering hemp extract in the European Feed Materials Registry, the company is on track to launch its two hemp-based animal health products, anibidiol® 2.5 for small companion animals and anibidiol® 80 for large companion animals, by year-end. The company is seeking to launch the Swiss Vitamin (SwissVit) nutraceutical product range throughout Asia Pacific and Latin America in 2018. The SwissVit range will include nutritional supplements using the INNutriGel Soft Gum™ technology. The company has over $10m in cash after raising $8m through the issue of 11.6m shares at $0.69 per share in March. A further $1m was raised through a Share Purchase Plan (SPP). The company has a strong capital position after the capital raising with no debt. While the company has taken significant steps to put themselves in a position to be a significant player in the emerging hemp extract and medicinal cannabis market, the company is in the early stages of growth and is operating in a highly competitive market. With the company undergoing product development and currently generating low levels of revenue, an investment in the company remains speculative
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