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Medicinal cannabis company Greenfern launches second equity crowdfunding round

Medicinal cannabis company Greenfern Industries has launched its second equity crowdfunding campaign.

It’s hoping to raise up to $4 million which will enable the company to purchase the hydroelectric power station as a strategic asset next to its state of the art medical cannabis research and extraction facility in Taranaki. It has already raised over $500,000.

From the outset, Greenfern has been striving to be New Zealand’s most sustainable and environmentally friendly medical cannabis company.

Director Dan Casey says purchasing the power station outright would enable the company to fast track its growth ahead of a planned IPO next year.

“We have been leading the way in the industry since initial legislation passed in December 2018, and now with the new Medicinal Cannabis Scheme that recently came into effect allowing the commercial cultivation, manufacture and distribution of medicinal cannabis in New Zealand we are ready to grow even bigger and better than before.”

Greenfern first ran an equity crowdfunding campaign in December 2018 when they raised $1.8m that was used to develop the company’s research facility.

Since then they have also partnered with several reputable organisations to distribute medicinal cannabis products, and to undertake research and development of cannabis-based products including a hemp meat substitute and snacks. [Read more @ NZ Herald]

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