I read that about 3,000 people have registered interest in a Medicinal Cannabis company in Aotearoa/NZ.. pending potential law reforms. This comes in light of many other countries that have already made such law reform & are already growing & producing medicinal cannabis & extracts etc.
‘Thousands of people have registered an interest in a share offer aiming to raise up to $2 million for a medical cannabis venture, say the organisers.’
‘Shares will be offered in Waiapu Investments, a vehicle created by Ruatorea-based charitable company Hikurangi Enterprises for ventures in natural health products, with a minimum investment of $50 for 50 shares.’
‘Subject to the granting of a medical cannabis licence, the funds raised by Waiapu would be invested in Hikurangi Cannabis Company to build a pharmaceuticals processing facility in Ruatorea and conduct phase one clinical trials for a medical cannabis product.’
“Supporting the development of a proven medicine made from cannabis that is grown, processed and licensed in New Zealand is a top priority for the funds raised through this offer,” said Waiapu Investments managing director (name removed)
“It is fantastic to be able to offer people at the flax roots an accessible investment opportunity allowing them to be part of an industry that is booming globally.”
‘Hikurangi Cannabis Company in February said it had signed a letter of intent with Seattle-based Rhizo Sciences to produce 12,000kg of pharmaceutical grade cannabis products during the next four years.’
‘The $160m offer was conditional on (NZ Govt.) medical marijuana (it’s actually called Cannabis) bill passing its second and third reading. It is currently at select committee stage.’
‘The Hikurangi Group website says the company could not make any guarantees of returns, “it is a high risk investment in a pre-revenue start-up in a highly uncertain regulatory environment and a new industry”.’
“We hope people support the crowdfunding offer with what they can afford to contribute because they believe in the kaupapa as much as for any personal gain.”
*The Hikurangi group were granted a license to grow Industrial Hemp (legal in Aotearoa/NZ since 2006) but there is some confusion about their ability/approval to use their crop to produce any medicinal (CBD etc.) extracts. This is still being ‘bogged down’ by the Govt. who are still mainly focussing on ‘Big Pharma’ products.. eg Sativex imported from GW Pharmaceuticals etc.
** The Hikurangi group reportedly applied for Govt. funding to expand their company. The Regional Development Minister, recently said (paraphrased) ‘It is unlikely that we will be funding ‘Electric Puha’ (kiwi slang for cannabis/M-J) from the fund’.. showing his obvious ignorance/bias attitude to the plant & its potential uses; sounding like its all about M-J (‘Marijuana’)
*** I remember hearing how NZ missed out on a very lucrative Opium growing business (several decades ago) because of fear/hysteria. It is starting to sound like we could likely ‘miss the boat’ on this one too.. unless this Govt. get over their nonsensical & even fear-mongering view, to CANNABIS !