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Medical Marijuana Company Creso Pharma to List on ASX

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Submitted by Marijuana News on Wed, 08/03/2016 - 09:50

Australian investors will soon be able to invest in the latest medical marijuana company set to list on the Australian stock exchange.

Creso Pharma is due to list on the ASX through an initial public offering, with the company seeking to raise $5m upon listing to primarily fund the development of its technologies and products.

The global medical marijuana market is projected to be worth $270 billion, with the Australian market tipped to be valued at $50 billion by 2018.

NSW is the first state to receive federal approval for the licensed growing of marijuana and since the beginning of August doctors in NSW are able to prescribe medicinal cannabis to patients who have exhausted standard treatment options.

The change in legislation is seen as a turning point for the natural plant that was made illegal despite being used for its medicinal properties for thousands of years.

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