{"id":10294,"date":"2024-05-29T23:14:07","date_gmt":"2024-05-29T23:14:07","guid":{"rendered":"https:\/\/economicherald.net\/?p=10294"},"modified":"2024-05-29T23:14:07","modified_gmt":"2024-05-29T23:14:07","slug":"stable-material-revenue-generating-business-melodiols-canadian-subsidiary-maintains-strong-progress","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=10294","title":{"rendered":"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress"},"content":{"rendered":"

Mernova finalises additional product development activities across edibles, vapes and dabbers
\nAgreements made with contract growers to supplement existing cannabis capacity given strong demand
\nQ2 FY24 purchase orders of $1.56m to date, highlighting ongoing strength of Ritual Brand<\/p>\n

\u00a0<\/p>\n

Special Report: Cannabis play Melodiol Global Health says Canadian subsidiary\u00a0Mernova continues to make strong operational progress, with strong demand prompting additional product development and agreements with contract growers to supplement existing capacity.<\/strong>\u00a0<\/strong><\/p>\n

Melodiol Global Health (ASX:ME1)<\/strong><\/a>\u00a0says Mernova has finalised product development activities in recent weeks across a variety of new products including edibles, vapes and dabbers which will be sold under its market-leading Ritual Brand.<\/p>\n

The extra products are in addition to those previously announced across the three ranges earlier this month<\/a> and highlight ongoing strength of Melodiol\u2019s Ritual brand.<\/p>\n

The new products include:<\/p>\n

Edibles<\/strong> \u2013 Sour Lemon Raspberry gummies, 100% THC, 5mg THC\/unit, pack of two gummies
\nSour Mango Orange gummies, 1:1 THC:CBD, 5mg THC and 5mg CBD per unit, pack of two gummies
\nVapes<\/strong> \u2013 New flavour Valley Apple Crisp, 1g vape
\nNew flavour \u2013Blueberry Grunt, 1g vape
\nDabbers<\/strong> \u2013 Black Mamba and Sugarb Bomb punch pipette products, ranging from 83% to 88% THC.<\/p>\n

\u00a0<\/p>\n

Extra cannabis material to supplement strong demand<\/strong><\/h2>\n

ME1 has also reached agreements with two contract growing companies to supply additional cannabis material to supplement supply given currently strong demand.<\/p>\n

Muise Cannabis will supply the company with Lemon Haze flower, a strain that Mernova already produces.<\/p>\n

Culture Des Summets will supply a new cultivar, Blue Pave, which is a highly touted high THC indica strain which Mernova will market to existing markets.<\/p>\n

ME1 says as Mernova\u2019s reputation continues to grow in the Canadian market, it continues to innovate with new products and supply opportunities to capitalise on demand.<\/p>\n

Cannabis is legalised in Canada for both medicinal and recreational use with Mernova now having a presence in all of Canada\u2019s major provinces, with additional market entries pending.<\/p>\n

The company continues to witness strong demand across the Canadian recreational cannabis marketplace, underpinning company revenue.<\/p>\n

During Q2 FY24 to date, Mernova has received purchase orders for $1.56m. The strong performance follows unaudited Q1 FY24 revenues of $1.75m, and FY23 revenues of $6.9m.<\/p>\n

\u00a0<\/p>\n

\u2018Stable, material revenue generating business\u2019<\/strong><\/h2>\n

CEO and Managing Director, Mr. William Lay says Mernova continues to be a strong performing subsidiary for ME1.<\/p>\n

\u201cMernova has developed into a stable, material revenue generating business unit for ME1,\u201d Lay says.<\/p>\n

\u201cOn the back of this success, we are excited that the team is exploring new product launches and contract growers to continue capitalising on demand.\u201d<\/p>\n

In what could be a further boost for ME1 and other ASX cannabis stocks the\u00a0U.S. Drug Enforcement Administration (DEA)<\/strong><\/a>\u00a0is considering reclassifying cannabis as a less dangerous drug.<\/p>\n

The proposal would recognise\u00a0the medical uses of cannabis but wouldn\u2019t legalise it for recreational use.<\/p>\n

\u00a0<\/em><\/p>\n

This article was developed in collaboration with Melodiol, a Stockhead advertiser at the time of publishing. <\/em>\u00a0<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post \u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Mernova finalises additional product development activities across edibles, vapes and dabbers Agreements made with contract growers to supplement existing cannabis capacity given strong demand Q2 [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":10295,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\n\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=10294\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Mernova finalises additional product development activities across edibles, vapes and dabbers Agreements made with contract growers to supplement existing cannabis capacity given strong demand Q2 [more...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/economicherald.net\/?p=10294\" \/>\n<meta property=\"og:site_name\" content=\"Economic Herald\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-29T23:14:07+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress\",\"datePublished\":\"2024-05-29T23:14:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294\"},\"wordCount\":538,\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/ME1-Melodiol-update-c9cw8B.jpeg\",\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294\",\"url\":\"https:\\\/\\\/economicherald.net\\\/?p=10294\",\"name\":\"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress - Economic Herald\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/ME1-Melodiol-update-c9cw8B.jpeg\",\"datePublished\":\"2024-05-29T23:14:07+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/economicherald.net\\\/?p=10294\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294#primaryimage\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/ME1-Melodiol-update-c9cw8B.jpeg\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/ME1-Melodiol-update-c9cw8B.jpeg\",\"width\":2121,\"height\":1193},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/?p=10294#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/economicherald.net\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#website\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"name\":\"Economic Herald\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/economicherald.net\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#organization\",\"name\":\"Economic Herald\",\"url\":\"https:\\\/\\\/economicherald.net\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"contentUrl\":\"https:\\\/\\\/economicherald.net\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/cropped-cropped-economicheraldlogo-1.png\",\"width\":850,\"height\":760,\"caption\":\"Economic Herald\"},\"image\":{\"@id\":\"https:\\\/\\\/economicherald.net\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress - Economic Herald","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/economicherald.net\/?p=10294","og_locale":"en_US","og_type":"article","og_title":"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress - Economic Herald","og_description":"Mernova finalises additional product development activities across edibles, vapes and dabbers Agreements made with contract growers to supplement existing cannabis capacity given strong demand Q2 [more...]","og_url":"https:\/\/economicherald.net\/?p=10294","og_site_name":"Economic Herald","article_published_time":"2024-05-29T23:14:07+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/economicherald.net\/?p=10294#article","isPartOf":{"@id":"https:\/\/economicherald.net\/?p=10294"},"author":{"name":"","@id":""},"headline":"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress","datePublished":"2024-05-29T23:14:07+00:00","mainEntityOfPage":{"@id":"https:\/\/economicherald.net\/?p=10294"},"wordCount":538,"publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"image":{"@id":"https:\/\/economicherald.net\/?p=10294#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/ME1-Melodiol-update-c9cw8B.jpeg","articleSection":["Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/economicherald.net\/?p=10294","url":"https:\/\/economicherald.net\/?p=10294","name":"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress - Economic Herald","isPartOf":{"@id":"https:\/\/economicherald.net\/#website"},"primaryImageOfPage":{"@id":"https:\/\/economicherald.net\/?p=10294#primaryimage"},"image":{"@id":"https:\/\/economicherald.net\/?p=10294#primaryimage"},"thumbnailUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/ME1-Melodiol-update-c9cw8B.jpeg","datePublished":"2024-05-29T23:14:07+00:00","breadcrumb":{"@id":"https:\/\/economicherald.net\/?p=10294#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/economicherald.net\/?p=10294"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/?p=10294#primaryimage","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/ME1-Melodiol-update-c9cw8B.jpeg","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2024\/05\/ME1-Melodiol-update-c9cw8B.jpeg","width":2121,"height":1193},{"@type":"BreadcrumbList","@id":"https:\/\/economicherald.net\/?p=10294#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/economicherald.net\/"},{"@type":"ListItem","position":2,"name":"\u2018Stable, material revenue generating business:\u2019 Melodiol\u2019s Canadian subsidiary maintains strong progress"}]},{"@type":"WebSite","@id":"https:\/\/economicherald.net\/#website","url":"https:\/\/economicherald.net\/","name":"Economic Herald","description":"","publisher":{"@id":"https:\/\/economicherald.net\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/economicherald.net\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/economicherald.net\/#organization","name":"Economic Herald","url":"https:\/\/economicherald.net\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/","url":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","contentUrl":"https:\/\/economicherald.net\/wp-content\/uploads\/2023\/10\/cropped-cropped-economicheraldlogo-1.png","width":850,"height":760,"caption":"Economic Herald"},"image":{"@id":"https:\/\/economicherald.net\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/10294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10294"}],"version-history":[{"count":0,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/posts\/10294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=\/wp\/v2\/media\/10295"}],"wp:attachment":[{"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economicherald.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}