Organic Genetics seeks NZ$4m through equity crowdfunding to drive growth
Medicinal cannabis company, Organic Genetics, is seeking NZ$4m via equity crowdfunding investment platform, PledgeMe, to accelerate its growth plans including fast-tracking an indoor production facility in Auckland, designed to cultivate premium medicinal craft cannabis and manufacture an extensive product suite.
Founded in 2019 by husband-and-wife duo Paul Lee and Holly Wright, the biotechnology company started with a vision to provide Kiwis with a life-changing and natural alternative to opioids, after seeing their own family members suffer adverse side-effects.
Led in partnership with global cannabis experts, Kind Future, Organic Genetics have assembled a team of industry veterans to share their knowledge and expertise in cannabis cultivation. The company founders believe this will provide Organic Genetics with the insight to avoid the setbacks and challenges that other NZ-based medicinal cannabis companies face, setting themselves apart from other key players in the market.
One of these veterans is Kind Future’s Founder, Jonathan “JJ” Jones, the Vice Executive President at leading cannabis technology and software company, Weedmaps, which is listed on the NASDAQ with a current market capitalisation of US$3.7bn. Jones has a notable track record of success supporting companies to create paths to revenue through product development, marketing, branding and sales.
Jones says, “Joining forces with Organic Genetics keeps us focused on purpose above all else. Our commitment to integrity and quality without compromise puts us into a position to be the industry leaders in New Zealand, and also set the precedent globally for how cannabis should be grown and utilised.”
Organic Genetics has been independently valued at NZ$30,145,000 pre-revenue. The forecasted revenue across the first five years is NZ$46.8m for medicinal cannabis and NZ$56.6m for hemp.
Holly Wright, Co-Founder and Director at Organic Genetics, says that with the global medicinal cannabis market already becoming a multi-billion dollar industry – having a value forecast of US$46.18bn by 2026 – the company is uniquely positioned to capitalise on the strong market growth with the support of its experienced global partners and future investors.
“As the first female co-founder of a medicinal cannabis company in New Zealand, I’m fiercely determined that Organic Genetics will pave the way to a more holistic and wellness-centred approach to treating people suffering from chronic pain and mental health challenges.
“With our international network of professionals, doctors, scientists and cultivation experts, we have the capacity to develop medicinal cannabis products that will disrupt the industry, while also contributing substantial economic growth and providing jobs and opportunities for Kiwis.
“Our approach has always been different – we’re not only focused on research and product development in cannabinoid science, but our aim is to transform traditional medical practices with an option rooted in wellness rather than short-term management,” adds Wright.
The funds raised will contribute towards the development of Organic Genetics’ EU GMP certified indoor cultivation facility in Auckland, which will house on-site extraction, processing and manufacturing facilities with the capacity to process 3,628kg of dried cannabis flowers per annum.
Organic Genetics have also partnered with pharmaceutical and nutraceutical company, iX Biopharma, with plans to offer its medicinal cannabis products to the New Zealand market. Once selected products have been submitted and approved by the Ministry of Health, Organic Genetics’ founders predict the partnership will deliver a significant revenue stream from the onset.
PledgeMe CEO, Dr Claire McGowan, says "We've been seeing a lot of equity crowdfunding activity in this industry in the last three years, with medicinal cannabis campaigns alone accounting for over NZ$10m of capital raised on PledgeMe.”
Wright concludes, “Everyday we’re hearing more and more stories from Kiwis asking for medicinal cannabis as part of their treatment plan. That’s why we’re extremely privileged to be offering this investment opportunity so that we, as a community, can change the scope of the medical industry here in Aotearoa, and provide safe, effective and accessible medicinal cannabis products to people who really need them.
“We encourage everyone who believes in the science behind the plant, to join us at this exciting junction of our business as we continue to bridge the gap between healthcare and wellness.”
For more information on Organic Genetics’ offer, which is now live to the public until 12pm, 18th September 2021, visit https://www.pledgeme.co.nz/investments/471-organic-genetics