Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Mernova’s Strong Progress Continues

by May 9, 2024
May 9, 2024
Mernova’s Strong Progress Continues

Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to advise that its wholly owned Canadian subsidiary, Mernova, continues to make strong operational progress.

Highlights:

Additional product launches across various provinces in addition to those previously announcedAgreement with Best Kind Edibles signed for manufacturing of cannabis edibles as an extension to existing product suiteQ2 confirmed purchase orders of $1.3m to date, highlighting ongoing strength of Ritual brand at the midpoint of the quarterPurchase orders follow unaudited Q1 revenues of $1.75m and FY23 full year revenues of $6.9m

In recent weeks, Mernova has achieved further new product launches, in addition to those announced on 2 April 2024. These include:

ManitobaTwo new products listed, Sacred Sage 3.5g and Sacred Sage 3×0.5gNova Scotia Liquor CommissionFrench Cookies 12×0.5g pre rolls one time offer approvedOntario Cannabis StoreBlack Mamba 12×0.5g pre-rolls now approvedNew BrunswickBlack Mamba / French Cookies / Halifax Sage combo pack approvedNewfoundland9 SKUs pending for June launchPrince Edward Island, Limited Edition Program for the following productsFrench cookies 3.5gHalifax Sage 3.5gBlack Mamba 3.5gBlack Mamba / French Cookies / Halifax Sage combo packBlack Mamba / Sugar Bumb Punch pre rolls combo paclkYukon Liquor Commission approved 6 new SKUs for launch in May 2024Grape Cream Cake pre rolls 3×0.5g, 7×0.5g, 10×0.5g and 12×0.5g formatsSugar Bomb Punch Vape 1.0gBlack Mamba Bubble Has Infused Blunt 1×1.0g

These results indicate the demand for the Ritual brand’s growing suite of products and strains. As an update to the 2 April 2024 announcement, Mernova has now signed a supply agreement with Best Kind Edibles for manufacturing of cannabis edibles (2x5mg) which will launch in the fall of 2024. During Q2 to date, Mernova has received purchase orders for $1.3m (C$1.2m at current C$ to A$ of 1.11) of product. This strong start to the quarter follows unaudited Q1 revenues of $1.75m, and FY23 revenues of $6.9m.

Management commentary:

CEO and Managing Director, Mr William Lay said: “Mernova continues to deliver strong revenue figures and we are very proud of the team for their ongoing commitment to high quality cannabis. We look forward to generating further purchase orders as new products and formats become available.”


Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
What Rising Volatility Means to the Current Market
next post
ChemX – Investor Presentation

Related Posts

Aether Global Innovations Corp. Signs Profit and Intellectual...

September 7, 2023

Potash Fertilizers: What’s the Difference Between SOP and...

January 2, 2024

Fireweed Drills Best Intersection to Date at Boundary...

January 10, 2024

Mike Larson: Bullish on Gold into 2024, Patient...

September 19, 2023

How Would a New BRICS Currency Affect the...

February 15, 2024

Trump and FLOTUS Dive into Crypto With Meme...

January 21, 2025

Copper Price 2023 Year-End Review

January 2, 2024

Radiopharm Theranostics to Participate in the D. Boral...

May 7, 2025

Wildfires Interrupt Mining Operations in Quebec

June 12, 2023

Falco Resources: Canadian Explorer in the Rouyn-Noranda Mining...

April 27, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

    • Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

    • Run Your Stock Portfolio Like a Pro Sports Team

    • Leadership Rotation Could Confirm Corrective Phase

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    Categories

    • Business (1,223)
    • Investing (2,504)
    • Politics (3,699)
    • Stocks (1,616)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved