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Shares of Melodiol Global Health Limited (OTCMKTS:COPHF – Free Report) are set to reverse split before the market opens on Wednesday, June 5th. The 1-30 reverse split was announced on Wednesday, June 5th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, June 5th. Melodiol Global Health Stock Performance Melodiol Global Health stock opened at $0.00 on Monday. The business has a 50 day simple moving average of $0.01 and a 200 day simple moving average of $0.02. Melodiol Global Health has a one year low of $0.00 and a one year high of $9.47. Melodiol Global Health Company Profile (Get Free Report) Melodiol Global Health Limited develops, registers, and commercializes pharmaceutical-grade cannabis, and hemp-based nutraceutical products and treatments for human and other health in Europe, Canada, the Asia Pacific, the United States, and internationally. The company develops and commercializes therapeutic products; develops and sells beauty and personal care products under the Green Goo, Southern Butter, and Goodgoo brands; and cultivates, processes, and sells cannabis products.

The Secure and Fair Enforcement (SAFE) Banking Act made headlines again this week as it was the focus of a Senate committee hearing on marijuana banking challenges. Typically any progress on this game-changing legislation for US cannabis businesses is welcomed by investors, sending cannabis stocks higher, but this week it appeared to have the opposite effect.

Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF) (Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF), Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF)) subsidiary Halucenex Life Sciences Inc will expand the scope of Phase 2 clinical trials assessing the efficacy of psilocybin on treatment-resistant Post Traumatic Stress Disorder (PTSD). If the amendment to the trial's Clinical Trial Authorisation (CTA) is granted by Health Canada, Halucenex will be able to include cohorts being treated with Selective Serotonin Reuptake Inhibitors (SSRIs) without requiring these patients to cease their prescribed medications a week prior to the trial.

Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF)'s wholly-owned, Canadian-based psychedelics subsidiary Halucenex Life Sciences Inc. has been included on a list of companies that can provide psychedelic compounds to researchers and patients under the SAP.

Cannabis company Creso Pharma Limited (ASX: CPH) (OTC: COPHF) (FRA:1X8) is entering the US CBD market, following a purchase agreement to acquire Colorado-based consumer packaged goods company, Sierra Sage Herbs, LLC. Under the agreement and subject to shareholder approval, Creso Pharma, via its wholly-owned subsidiary, Creso Pharma US, Inc, will purchase a 100% interest in SSH for a total upfront consideration of $21 million, payable by the issue of fully paid ordinary shares, based on the 10-day volume-weighted average price at the date of execution of the agreement, being $0.083, and the AUD/USD exchange rate as at the date of closing.

Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF) has entered the US CBD market. The company has executed a Membership Interest Purchase Agreement to acquire Colorado-based consumer packaged goods company, Sierra Sage Herbs, LLC (SSH).

Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF) psychedelics subsidiary Halucenex Life Sciences Inc has lodged a Clinical Trial Authorisation (CTA) with Health Canada for a planned phase II clinical trial to test the efficacy of psilocybin on treatment-resistant Post Traumatic Stress Disorder (PTSD). The proposed phase II clinical trial is designed to be a single-arm, open-lab trial that will ultimately determine the feasibility of future trials of psilocybin in this indication.

Creso Pharma Ltd (ASX:CPH, OTCQB:COPHF) has launched the next stage of its growth strategy, appointing executives with strong backgrounds in the lucrative cannabis market. In a push to strengthen its executive team, CPH has appointed William Lay as CEO and managing director, leading cannabis and psychedelics entrepreneur Bruce Linton as a non-executive director and Micheline McKay as an executive director.
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