Creso Pharma: Posts 77pc revenue jump in Q3

Creso Pharma Posts 77pc revenue jump in Q3

• Creso Pharma (CPH) reports a 77 per cent year-on-year (YoY) jump in group revenue to $2.05 million for the September quarter
• This result takes Creso’s unaudited year-to-date revenue to roughly $6.4 million, which already exceeds 2021
• The medicinal cannabis company says its subsidiaries “continued to perform pleasingly”, and it welcomed its initial revenue from recently-acquired Sierra Sage Herbs
• Creso also signed a term sheet to acquire Health House International over the quarter, which reportedly generated $4.6 million in cash receipts during the quarter
• Meanwhile, CPH has announced it’s raising up to $7.6 million through two separate convertible notes arrangements to support marketing and sales, Halucenex’s phase two clinical trial, and to review and complete any merger and acquisition opportunities
• CPH shares are down 6.45 per cent to trade at 2.9 cents at 3:51 pm AEDT