Creso Pharma Limited announced that it has secured a non-binding, non-exclusive Heads of Agreement ("HoA") with China Chemical & Pharmaceutical Co., Ltd. ("CCPC") for the introduction of Sierra Sage Herbs LLC products to the Taiwanese animal healthcare market. The HoA intends to broaden Creso Pharma's international exposure and provides the Company with an established in-country partner to potentially drive sales growth. Under the HoA, the parties have agreed to enter into a Collaborative Agreement on or before 31 August 2022 ("Expiration Date"), with the parties being able to extend this timeframe by mutual agreement ("Collaborative Agreement").

The HoA can be terminated upon either party giving written notice at any time prior to the execution of a Collaborative Agreement. There has been no consideration set between the parties under the HoA. This Collaborative Agreement is intended to set out the terms upon which Creso Pharma and CCPC will: Commercialise select products from Creso Pharma's target acquisition company, Sierra Sage Herbs' (SSH) pet care product range in the Taiwanese market.

The initial focus will be on SSH's Animal First Aid product. Explore further commercialisation options for current and future innovative products. Product interest extends to Animal Pain Relief, Animal Castile Wash, Bugs Be Gone and potential future innovative products from SSH/Creso Pharma's product development pipeline.

The pet care market presents a market opportunity for Creso Pharma and SSH, due to the increase in more young Taiwanese choosing to own and raise pets instead of having children. This has led to considerable increased spending on pet care related products, which rose from USD 283.2 million to USD 402.9 million in 2019. SSH salves are fundamentally different from other products on the market.

SSH's herbs are carefully sourced from organic farmers, with the products' defining characteristic being a lipid- infusion process. Rather than using pre-made extracts, SSH infuses fresh and dried herbs in organic oils over low heat for an extended amount of time to maximise the potency and purity of the products. Green Goo Animal First Aid's powerful formula is fortified with calendula, yarrow, and comfrey to help soothe and repair minor wounds.

It's portable first aid for all domesticated animals.