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More than $6 million raised for medicinal cannabis

27 November 2019


More than $6 million raised for medicinal cannabis through over 2,300 investors in 18 months via PledgeMe

Ahead of New Zealand’s 2020 cannabis referendum, over $6 million has been raised in the medicinal cannabis space on PledgeMe.

More than 2,300 investors now hold shares in Gold Coast-based CDA Health, Marlborough-based Puro and Ruatoria-based Waipu Investments.

There are 2 companies with live cannabis-related campaigns running on PledgeMe currently: Puro and Whakamana.

Whakamana, which aims to be the top cannabis culture and lifestyle brand in New Zealand, plans to open a cannabis and research institute in Christchurch.

“As a crowdfunded enterprise, our shareholders (will) form the heart of an inclusive community” say the founders Abe Gray and Micael Mayell.

Whakamana has raised just over $104k through 174 investors and has 19 days left on their campaign. The minimum share offer starts from $50 and Whakamana is offering up to 61.7% of their shares (majority ownership). Its minimum goal is $1 million.

Puro’s managing director, Tim Aldridge, says that the public response to their campaign has been “humbling” and that Puro’s reason for crowdfunding was to “give the New Zealand public the opportunity to reap the rewards of this fast-growing industry.”

Puro has raised the most funds for a campaign in PledgeMe history with its combined wholesale and public raise of $2.5 million through 646 investors. This makes November 2019 the biggest month PledgeMe has ever had, with over $4.2 million pledged to successful crowdfunding campaigns.

PledgeMe has run a total of four equity campaigns in the cannabis space between May 2015 and November 2019.

In 2020, the New Zealand public will vote on the recreational use of cannabis. If legalised, it will have a significant impact on the cannabis industry.


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