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.
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