{"id":7818,"date":"2024-04-02T00:34:54","date_gmt":"2024-04-02T00:34:54","guid":{"rendered":"https:\/\/economicherald.net\/?p=7818"},"modified":"2024-04-02T00:34:54","modified_gmt":"2024-04-02T00:34:54","slug":"melodiols-mernova-gains-more-traction-in-canada-revenues-increase-new-products-launched","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=7818","title":{"rendered":"Melodiol\u2019s Mernova gains more traction in Canada: revenues increase, new products launched"},"content":{"rendered":"<p>Special Report: Melodiol Global\u2019s subsidiary Mernova continues to gain traction in Canada as the company launches new cannabis products across various markets.<\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/melodiol-global-health-me1\/\" target=\"_blank\" rel=\"noopener\">Melodiol Global Health Limited (ASX:ME1)<\/a>\u2019s wholly-owned Canadian subsidiary, <strong>Mernova<\/strong>, has continued its gain traction on the back of strong demand for its growing suite of products and strains.<\/p>\n<p>Mernova has successfully received approvals to launch a variety of new SKUs and strains across several provincial markets in Canada.<\/p>\n<p>Following these approvals, Mernova has listed new SKUs in recent weeks, which include:<\/p>\n<p><strong>Nova Scotia Liquor Commission:<\/strong><\/p>\n<p>Halifax Sage 1g dried flower, launching April 2024<br \/>\n5g pre-rolls, launching April 2024<br \/>\nRitual Dooble Dooble Indica MixerPack(two Black Mamba pre-roll and twoSugar Bomb Punch pre-rolls), launching July 2024<br \/>\nRitual Dooble Dooble Sativa MixerPack (two French Cookies pre-rolls and two Halifax Sage pre-rolls), launching July 2024<\/p>\n<p><strong>Ontario Cannabis Store:<\/strong><\/p>\n<p>Currently in round two submission approval for the following new SKUs (both launching summer 2024)<br \/>\nSugar Bomb Punch 3.5g dried flower<br \/>\nBlack Mamba 12\u00d70.5g pre-rolls<\/p>\n<p><strong>Prince Edward Island, with imminent purchase orders:<\/strong><\/p>\n<p>5g pre-rolls for Halifax Sage, French Cookies and Black Mamba o 1g vapes for both Black Mamba and Sugar Bomb Punch<br \/>\n1g Black Mamba Bubble Hash Infused Blunt<br \/>\n5g French Cookies Bubble Hash Infused pre rolls<\/p>\n<p><strong>Yukon Liquor Commission, launching April 2024:<\/strong><\/p>\n<p>Sacred sage 3.5g and 7.0g dried flower<br \/>\nSacred Sage 3\u00d70.5g pre rolls<\/p>\n<p>\u00a0<\/p>\n<h2>Mernova\u2019s strong position in Canada<\/h2>\n<p>Cannabis is legalised in Canada for both medicinal and recreational use, and Mernova has a presence in around 60% of Canada\u2019s provinces, with additional market entries pending.<\/p>\n<p>Mernova continues to witness strong demand across the Canadian recreational cannabis marketplace.<\/p>\n<p>In the first two months of FY24, Melodiol Global generated unaudited\u00a0 group revenue of $3.1 million, with <a href=\"https:\/\/stockhead.com.au\/health\/melodiol-subsidiaries-contribute-3-1-million-revenue-in-first-two-months-of-2024\/\" target=\"_blank\" rel=\"noopener\">Mernova a strong contributor.<\/a><\/p>\n<p>That progress has continued.\u00a0 During Q1 2024, Mernova generated unaudited revenues of $1.75m, up 13% on the pcp.<\/p>\n<p>Mernova has also generated purchase orders for delivery in Q2 2024 of $373,000, indicating a strong start to the quarter.<\/p>\n<p>ME1\u2019s <strong>CEO<\/strong> and Managing Director, William Lay says he continues<em> t<\/em>o be highly impressed with the performance of Mernova.<\/p>\n<p>\u201cA step change in the size of quarterly revenues occurred during FY23 and demand continues to be strong.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2>Looking ahead<em>\u00a0<\/em><\/h2>\n<p>Mernova is highly focused on analysing market trends in each of its existing markets and tailoring new products to capture demand.<\/p>\n<p>As part of this initiative, Mernova plans to launch its first edible product, and will provide further updates on this in due course.<\/p>\n<p>Mernova is also developing two new strains for markets later in the year; Month Blanc and Dark Star. It\u2019s also working on developing new flavoured vaporisers with a scheduled launch of Q3 2024.<\/p>\n<p>The company has signed an agreement with Optimus Cannabis Inc., a local Nova Scotia based pharmacy, to further increase sales.<\/p>\n<p>Currently, Optimus is ordering a variety of dried flower and pre-roll products, and Mernova expects further orders from Optimus imminently including vaporiser products.<\/p>\n<p>\u201cIn order to continue its momentum, Mernova\u2019s management has continued to innovate new products and strains and pursue their listing in a variety of markets.<\/p>\n<p>\u201cWe look forward to providing further updates on Mernova in due course,\u201d said Lay.<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Melodiol Global Health, a Stockhead advertiser at the time of publishing. <\/em><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/melodiols-mernova-gains-more-traction-in-canada-revenues-increase-new-products-launched\/\">Melodiol\u2019s Mernova gains more traction in Canada: revenues increase, new products launched<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Special Report: Melodiol Global\u2019s subsidiary Mernova continues to gain traction in Canada as the company launches new cannabis products across various markets. Melodiol Global Health <a href=\"https:\/\/economicherald.net\/?p=7818\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":7819,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Melodiol\u2019s Mernova gains more traction in Canada: revenues increase, new products launched - 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=7818\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Melodiol\u2019s Mernova gains more traction in Canada: revenues increase, new products launched - Economic Herald\" \/>\n<meta property=\"og:description\" content=\"Special Report: Melodiol Global\u2019s subsidiary Mernova continues to gain traction in Canada as the company launches new cannabis products across various markets. 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