For H1FY17, Creso Pharma Ltd Significant progress for animal and human health nutraceuticals
Significant progress for animal and human health nutraceuticals: For H1FY17, Creso Pharma Ltd (ASX: CPH) posted a net loss after tax of A$3.53 million including a non‐cash cost of A$1.19 million for share‐based payment expenses associated with options and performance rights issued during the period. CPH has successfully completed a placement to institutional and professional investors by raising A$8.8 million, while a Share Purchase Plan raised an additional A$1 million. The funds raised under the Placement and SPP are being used to fast‐track the commercialisation of the Company’s cannabinoid‐derived animal and human health nutraceuticals and other medical cannabis products and to expand the development pipeline. Further, the group has reported for significant progress with regards to the development and commercialisation plans for the first animal and human health nutraceutical products. It is also the first company to successfully import medicinal cannabis products in Australia.
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