Medicinal marijuana crowdfunding crashes

Today’s news that the Recreational Cannabis Referendum planned for 2020 will now be binding has seen a crowdfunding campaign platform for a medicinal cannabis company crash tonight under heavy use from people wanting to invest in the industry.

Greenfern Medicinal Marijuana’s crowdfunding website - https://www.ccfl.co.nz/, hosted by Collinson Crowdfunding – was non-responsive due to heavy traffic for more than two hours tonight, meaning people could not make investments. It is now back up and running.

Greenfern is aiming to 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.

“We are giving everyday Kiwis the opportunity to be shareholders in Greenfern,” said director Tim Johnson.

“Though we are committed to developing medicinal cannabis strains, a positive outcome from the 2020 binding referendum on legalising cannabis for personal use may provide a positive outcome for Greenfern’s many shareholders who have already become a part of our company through the crowdfunding campaign.

“We are currently the only option in New Zealand that Kiwis can invest in to be able to enter this burgeoning industry. With the referendum news today, it is no wonder our campaign is seen as an attractive offer."

Greenfern is looking to raise money to build its growing facilities next to a hydro power station in South Taranaki.

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.

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.

Greenfern also has intentions to list on the New Zealand Stock Exchange as part of its mid-term planning.

For more information about Greenfern’s crowdfunding campaign, see https://www.youtube.com/watch?v=40FNs0UDqnI, www.gmm.nz or www.ccfl.co.nz .

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