Creso Pharma (ASX:CPH) advantaged as UN reclassifies cannabis

Creso Pharma (ASX:CPH) advantaged as UN reclassifies cannabis

Health Care

ASX:CPH MCAP $43.37M

·Shares in Australian pharmaceutical cannabis company Creso Pharma (CPH) are up 27 per cent after the United Nations (UN) recognises marijuana as a less dangerous drug

·The United Nations Commission on Narcotic Drugs voted to downgrade marijuana from a Schedule IV substance to a Schedule I, the least restrictive classification

·The decision is expected to create multiple near term opportunities for the small-cap lister

·Creso touts the decision as a significant global trend towards relaxing access requirements to cannabis

·Shares in Creso are up 27 per cent and trading at 8 cents each

Creso Pharma (CPH) is set to benefit from a United Nations decision to withdraw marijuana's classification as a dangerous Schedule IV substance.

Cannabis will now be classified under Schedule I — the least restrictive drug classification — which the company says is a recognition of the potential medical properties of the drug.

It is anticipated the ruling will create numerous new near term opportunities for Creso.

Read the article on The Market Herald