Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Medical Cannabis Company Medical Kiwi Raises Almost $400,000 In A Day

Nelson-based startup Medical Kiwi launched a PledgeMe campaign yesterday that aims to raise up to $3 million through equity crowdfunding and wholesale investors. $384,039 has been pledged through the platform by 166 investors in less than a day.

Co-founder and Chairman Aldo Miccio is confident the market is poised for success: “Medical cannabis is the next big wave in the medical world. In New Zealand alone, over the next ten years, it could be a $1 billion market opportunity.”

Medical Kiwi has already sold its first two years of production to Hektares, a global player in the medical cannabis industry, equating to $30 million for 2021, and $60 million in 2022.

The funds raised from the PledgeMe campaign will help deliver these orders and prepare for more through further research and development, completing their first Christchurch-based growing facility, and buying the oil extraction equipment.

Medical Kiwi is seeking to raise between $500,000 to $3,000,000, which represents up to 8.43% of the company. Shares are $1 each with a minimum investment of $500. Investors will receive non-voting shares, and those who pledge over $40,000 will receive voting shares.

“We’re running a campaign on PledgeMe because we want to give fellow Kiwis the opportunity to invest and become shareholders in Medical Kiwi,” Miccio says.

The PledgeMe platform has previously run three successful medical cannabis equity campaigns, raising over NZ$7 million from over 2,300 investors.

PlegeMe founder Anna Guenther says, “We’re excited to be working with a company that creates a real impact in the lives of Kiwis who live with a variety of medical conditions. Medical cannabis campaigns have historically activated a wide crowd of support, so we’re excited to see Medical Kiwi’s crowd is no different”.

Medical Kiwi’s equity crowdfunding campaign launched publicly on 17 August at 12 pm.

You can find the campaign and information memorandum here: https://pledgeme.co.nz/investments/412
 

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Statistics: Consents Remain At Record Levels
There were 47,715 new homes consented in the year ended October 2021, up 26 percent compared with the year ended October 2020, Stats NZ said today. "The year ended October 2021 marks another record for the annual number of new homes consented,” construction statistics manager Michael Heslop said... More>>



Foodstuffs: New World & Four Square Trial NZ’s First Grocery Delivery Offer With Uber Eats

New World & Four Square have partnered with Uber Eats to unlock the first grocery offering available on the platform in Aotearoa. For New World and Four Square it’s yet another way to put New Zealanders first, particularly with those inevitable last-minute grocery needs... More>>

Digitl: Download 2.0 – Vodafone Wi-Fi Calling hits early milestone
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>



ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>


PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>



REINZ: Sales Volumes Leveling Out

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 44 fewer lifestyle property sales (-2.6%) for the three months ended October 2021 than for the three months ended September 2021... More>>