Creso Pharma Announces Launch of JV for Cannabis-Derived Beverage Market

Creso Pharma Limited (ASX:CPH) announced that it has formally launched its new joint venture company with LGC Capital Ltd (TSXV: LG) and Baltic Beer Company Ltd (“Baltic Beer Company”) to capitalise on the fast-growing cannabis and hempderived beverage markets.

The joint venture company – CLV Frontier Brands Pty Ltd (“CLV”) – intends 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.

The launch of CLV follows the announcement in November 2017 of a binding letter of intent between the three parties and the formation of the joint venture company. The parties have now executed a formal binding joint venture agreement that more specifically outlines the rights and obligations of the parties.

Under the terms of the joint venture, both Creso and LGC will initially contribute €150,000 in startup capital to CLV and Baltic Beer Company will contribute the equivalent sum by way of services to the company.

It is proposed that CLV will immediately start developing an initial premium four-beer range containing unique cannabis terpene mixes as well as other innovative ingredients.

These unique terpenes will carry the flavor and aroma of cannabis and will provide a sensual cannabis experience but the beverages will not contain any THC or CBD or any other cannabinoids.


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