Creso Pharma announced September 2022 quarterly update

Creso Pharma Limited (ASX:CPH)  has provided quarterly update for the period ended 30 September 2022.

During the quarter, the Company achieved several  operational and corporate milestones that will lay foundation for remaining CY2022 and beyond.

September 2022 quarter highlights:

1. Total group revenue increased 77% to AU$2,054,011 compared to the previous corresponding period.
2. Q3 revenue takes CPH’s unaudited YTD revenue to AU$6,368,319. This number is a record for the company.
3. Growth during the quarter was driven by sales into North America from Sierra Sage Herbs LLC and Mernova Medicinal Inc along with Creso Pharma Switzerland.
4. CPH signed non-binding term sheet secured to acquire Health House International Limited. This transaction will help the Company to expand internationally and also support revenue growth.
5. Health House generated AU$4.6 million in cash receipts during the quarter, driven by strong revenue performance in Australia.

Achievements:

1. Secured Heads of Agreement with Gotro Global Inc. to introduce SSH products into Singapore pet care market.
2. Recently acquired, Sierra Sage Herbs LLC signed a non-exclusive private label manufacturing deal with FSA Store Inc. to produce the group’s inaugural plant-based first-aid collection.
3. Creso Pharma Switzerland entered into a non-binding, non-exclusive Letter of Intent (LOI) with Providence Animal Health Korea Ltd to work towards the registration, importation as well as commercialisation of CPH’s anibidiol® product suite for the South Korean market. As per this LOI, the Company along with Providence Animal Health Korea will work in the direction of the registration, importation and commercialisation of CPH’s anibidiol® product suite.

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