Creso Pharma (ASX: CPH) has launched its joint venture company with Canadian cannabis investor, LGC Capital Ltd (TSXV: LG), and British brewer, Baltic Beer Company Ltd, to capitalise on the emerging cannabis and hemp-derived beverage markets.
This newly formed JV company, which is called CLV Frontier Brands Pty Ltd, plans to develop and globally commercialise a bespoke portfolio of cannabis and hemp-derived alcoholic and non-alcoholic beverages containing various ingredients, seeds, extracts and terpenes from hemp and cannabis plants.
Both CPH and LGC will initially contribute EUR150,000 (A$228,734) in start-up capital to CLV, and Baltic Beer Company will contribute the equivalent sum by way of services to the company.
The JV participants have already identified potential distribution partners in Europe, far East Asia, Central and Latin America, Canada, Africa, Australia and New Zealand. CLV will have vast commercialisation reach spanning multiple continents, leveraging the expansive networks of all three companies.
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