Yet in another step to expand globally with its cannabis business, Biotech company Creso Pharma (ASX: CPH) has recently signed a joint-venture agreement with the Israeli Cohen Propagation Nurseries.
Small Caps reported that if Cohen obtains regulatory approval to grow and cultivate medical cannabis, the two will form a new joint-venture company with Creso owning a 74 per cent stake.
Creso says the approval should take about two months.
After the singing of the agreement, both Cohen and Creso expect the construction of a facility, which will take up to five months.
The agreement also shows Creso’s aspiration to expand internationally.
In February, Creso reported “strong progress” with the construction of its cannabis medical cannabis facility in the Canadian province of Nova Scotia.[share-btn]