MONTREAL and PERTH, Australia, Nov.
9, 2017 /CNW Telbec/ - Creso Pharma ("Creso"), the
Australian listed and Swiss based pharmaceutical company, and
Canadian listed LGC Capital Ltd. ("LGC"), jointly announce the
formation of a new and exciting strategic alliance intended to
create a vertically-integrated cannabis operation with a global
footprint spanning cultivation, IP generation, innovative product
development and commercialisation.
- In anticipation of the imminent launch of Creso's first
pioneering animal health product anibidiol in Switzerland and Lichtenstein as well as the
upcoming launch of its human health product cannaQIX in Q1 2018,
Creso is looking to aggressively expand its market reach.
- LGC brings potential access to the highest quality, competitive
supply of cannabis from southern Africa, a global logistics footprint and
capability to introduce Creso's innovative products to key markets
of Canada and Africa and other regions within LGC's growing
global footprint.
- Creso and LGC will engage in developing sales and distribution
of products jointly in Europe,
Canada, Latin America, Africa, Japan
and the Asia-Pacific region.
- Together, Creso and LGC will develop, produce and market
innovative human and animal health solutions addressing the growing
demand for cannabis and hemp-derived therapeutics, cosmetics,
nutraceuticals and lifestyle products.
- The combination of LGC's access to competitive-source cannabis
with Creso's Swiss-based expertise in product development and
market access is intended to deliver significant added value for
customers and consumers.
- The strategic alliance is designed to result in better access
to high quality cannabis-based consumer products globally.
Dr. Miri Halperin Wernli,
Co-Founder and CEO of Creso states: "By
combining our unique assets and strengths, we believe Creso and LGC
will create an integrated cannabis products' opportunity with a
global footprint, covering from seed to finished goods, greatly
benefitting patients and consumers."
David Lenigas, Founder and Co-Chairman of LGC commented:
"Creso operates under the highest GMP Swiss standards and all
of its products are manufactured, quality controlled and certified
in Switzerland. Creso's
team consists of globally-recognised pharma professionals and
this alliance between Creso and LGC is a terrific development for
both companies."
John McMullen, CEO of LGC states:
"This alliance will be both invaluable and complementary to
LGC's investment portfolio and growing global partnerships.
Together we will expand and strengthen Creso's commercial offerings
and LGC's ability to service the global hemp and cannabis markets
for humans and animals."
Creso and LGC have entered into a letter of intent which will
form the basis for the negotiating, drafting and signing by them of
a mutually-satisfactory Collaboration Agreement. The
Collaboration Agreement, which Creso and LGC expect to sign before
December 31, 2017, will set out in detail the terms and
conditions of their strategic alliance. The letter of intent
provides that any activities to be performed by LGC in connection
with the strategic alliance may be performed by LGC directly, or
indirectly through one or more of LGC's investee companies or
businesses.
The signing of the Collaboration Agreement is conditional upon
LGC and Creso having obtained all requisite regulatory approvals,
including those of the TSX Venture Exchange and Australian
Securities Exchange, respectively, to the extent applicable.
About LGC Capital Ltd.:
www.lgc-capital.com
LGC is a Canadian incorporated public company listed on the TSX
Venture Exchange (TSXV: LG). LGC's objective is to become a
diversified investment company with core holdings in businesses
that provide shareholders with exposure to a diverse range of high
growth businesses, products and services. To date, LGC has entered
into agreements for investments in private cannabis operations in
South Africa, Australia and Canada.
About Creso Pharma:
www.cresopharma.com
Creso Pharma brings pharmaceutical expertise and methodological
rigour to the world of medicinal cannabis and strives for the
highest quality in its products. It is the leader in medicinal
cannabis and cannabidiol (CBD) innovation and develops cannabis and
hemp-derived therapeutic-grade nutraceuticals and medicinal
cannabis products with wide patient and consumer reach for human
and animal health. Creso uses GMP development and manufacturing
standards for its products as a reference of quality excellence
with initial product registrations in Switzerland. It has worldwide rights for a
number of unique and proprietary innovative delivery technologies
which enhance the bioavailability and absorption of
cannabinoids.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements with
respect to LGC Capital Ltd. ("LGC") and Creso Pharma Limited
("Creso") and their respective operations, strategy, investments,
financial performance and condition. These statements generally can
be identified by use of forward-looking words such as "may",
"will", "expect", "estimate", "anticipate", "intends", "believe" or
"continue" or the negative thereof or similar variations. The
actual results and performance of LGC and Creso, including their
proposed strategic alliance described herein, could differ
materially from those expressed or implied by such statements. Such
statements are qualified in their entirety by the inherent risks
and uncertainties surrounding future expectations. Some important
factors that could cause actual results to differ materially from
expectations include, among other things, general economic and
market factors, competition, government regulation and the factors
described under "Risk Factors and Risk Management" in LGC's
Management's Discussion and Analysis for the fiscal year ended
September 30, 2016, as filed on SEDAR
(www.sedar.com). The cautionary statements qualify all
forward-looking statements attributable to LGC or Creso, as the
case may be, and persons acting on their behalf, respectively.
Unless otherwise stated, all forward-looking statements speak only
as of the date of this press release and neither LGC nor Creso has
any obligation to update such statements, except to the extent
required by applicable securities laws.
SOURCE LGC Capital Ltd