Medicinal Cannabis facility aims to be most sustainable in NZ
A crowdfunding campaign is underway that could see a medicinal marijuana company become not only the most sustainable and environmentally friendly cannabis grower in New Zealand, but also produce the most competitively priced products thanks to a unique competitive advantage.
Greenfern Medicinal Marijuana has launched a crowdfunding campaign to raise money to build its growing facilities next to a hydro power station in South Taranaki.
Director Tim Johnson said the company had secured an agreement with the power station operator that would see Greenfern’s power usage billed at a significantly reduced commercial rate.
“By reducing our cost of production, we will be able to offer products that are exceptionally high quality at an affordable price for the New Zealand market. That’s an enormous competitive advantage, but it also speaks to our philosophy: patient before profit,” Johnson said.
“We think there is an untapped opportunity here to grow, manufacture and supply sustainable, ethically produced products that help New Zealanders who are suffering, who are in pain. We want to help people who are looking for alternative, more holistic approach to their medication intake. And we want to be able to do that at a price that Kiwis can afford.”
Greenfern is aiming to raise between $500,000 and $2 million by February 1.
Johnson said how much they raise will determine the size of the operation they can begin to build at the Normanby site.
Greenfern has submitted its application with the Ministry of Health to cultivate medicinal cannabis for human medicinal and research purposes. That research will spearhead the development of the company’s future product range.
“The regulatory process is pretty fluid right now and we will be included in the Ministry’s regulatory framework discussion that’s coming up in April. We’re confident we’ll be granted the licences that we need shortly after April. And in the meantime, we have a Greenfern team member that is a current grower and holder of a hemp license.”
The bulk of the money raised in the crowdfunding campaign will be earmarked for growing and extraction facilities, which Johnson hopes to have up and running by the end of 2019.
Johnson said while the domestic market is Greenfern’s primary focus for now, there is a strong likelihood that export opportunities will arise.
“To the world, Greenfern will look extremely attractive. We’ll be operating a sustainable, environmentally friendly business that is powered by renewable energy. ‘Pure New Zealand’ is recognised around the world and we will epitomise ‘Pure New Zealand’.”
As well as looking to global expansion opportunities, Greenfern also has intentions to list on the New Zealand Stock Exchange as part of its mid-term planning.
The Government passed a medicinal cannabis Bill last week that promises a regulated market and a legal defence for users who are terminally ill or in chronic pain.
Greenfern is using
Auckland-based Collinson Crowdfunding – a leading equity
investment platform – for its