Creso Pharma Limited announced a collaboration with Highnoon Laboratories Limited and Route2 Health Limited. Both Highnoon and Route2 are entities incorporated in Pakistan. Creso Pharma has entered a binding letter of intent with Highnoon and Route2 whereby the parties will look to enter into a strategic collaboration to expand distribution of its innovative hemp derived therapeutic products into Pakistan.

Subject to further regulatory approvals, the parties have also agreed to consider leveraging their international reach to explore broadening the strategic collaboration to include the additional markets of Afghanistan, Azerbaijan, Bangladesh, Cambodia, Georgia, the Maldives, Myanmar, the Philippines, Tajikistan, Turkmenistan, Uzbekistan, and Vietnam. Under the letter of intent the parties have agreed to formalise the terms of their strategic collaboration in a definitive agreement to be executed within the next three months. Any material distribution of Creso Pharma's products into Pakistan will be subject to the entry into the definitive agreement.