New Zealand Medicinal Cannabis Research Company Intends To List On NZX

NEW ZEALAND: In a first for New Zealand, medicinal cannabis research company Cannasouth has announced it will make an application to list its shares on the NZX Main Board through an initial public offering (IPO) during the second calendar quarter of 2019.

Based in the Waikato region, Cannasouth has received a licence from the Ministry of Health to carry out medicinal cannabis research in New Zealand. The licence also enables the company to apply for an import license to import cannabis products for research.

The granting of the license represents a major milestone for Cannasouth, whose management team has been involved in the cultivation and research of industrial hemp, and now medicinal cannabis, since 2002.

Cannasouth’s director of operations Mark Lucas says the company’s IPO will open more doors for future research into the development of advanced cannabinoid medicines and health-related products. “The medicinal cannabis research industry is still very much in its early stages – we’ve only scratched the surface of what is possible,” he says.

Cannasouth is currently planning the construction of GMP (good manufacturing processes) cultivation and production facilities in Waikato, in anticipation of legislation changes that will allow the manufacture and sale of medicinal cannabis in New Zealand.

The announcement of Cannasouth’s IPO comes after securing first round capital investment from the CMP Growth Capital Fund, a fund that provides growth capital to emerging New Zealand businesses.  It is anticipated that a further, modest pre-IPO round of capital raising will be undertaken before the end of this year.

Sean Joyce, principal of CM Partners, which manages the CMP Growth Capital Fund, says Cannasouth has all of the intellectual capital and attributes needed to be a leader in the medicinal cannabis industry, “There is huge potential in this exciting emerging sector, and Cannasouth will be a welcome addition to the New Zealand capital markets when it lists next year.”

Tilray Exports Medical Cannabis Products To New Zealand or Nationwide Distribution

CANADA: Tilray, a global leader in medical cannabis research and production, today announced that Tilray medical cannabis products have been successfully exported to New Zealand and are now available for distribution nationwide. The products were produced at Tilray’s federally licensed, Good Manufacturing Practice (GMP)-certified facility in Canada and can be dispensed to any patient with valid approval under New Zealand law.

“We are proud to offer New Zealand patients access to quality-controlled, pharmaceutical-grade medical cannabis products,” said Brendan Kennedy, Tilray President. “With Tilray products available in six countries representing four continents, we further our global mission of serving patients in need in a timeframe that matters.”

Tilray has signed an agreement with a leading New Zealand pharmaceutical distributor to supply pharmacies across the country with medical cannabis products. Products currently available in New Zealand include precisely formulated medical cannabis oils containing tetrahydrocannabinol (THC) and cannabidiol (CBD).

Earlier this year, Tilray announced that it had successfully exported its first New Zealand-bound shipment of medical cannabis products to Middlemore Hospital in Auckland. In addition to New Zealand, Tilray serves tens of thousands of authorized patients in North America, South America, Europe, and Australia, where the company is able to supply medical cannabis products to authorized patients in every state and territory.

Tilray became the first medical cannabis producer in North America to be GMP certified in December 2016. GMP certification is the most rigorous standard that manufacturers of medical products must meet in their production processes, and it provides regulators and health care providers in countries new to medical cannabis with certainty that Tilray products are a safe and smart choice.

GMP certification is enabling Tilray to expand international distribution of its products for commercial, clinical research, and compassionate access purposes. In 2016, Tilray made history by becoming the first company to legally export medical cannabis products from North America to Australia, Europe, and South America.

Tilray is also committed to advancing the science and safety of medical cannabis products by supporting clinical research. In Australia, Tilray has partnered with the University of Sydney and New South Wales Government to study medical cannabis as a treatment for symptoms of chemotherapy-induced nausea and vomiting. In Canada, Tilray supports additional trials focused on pediatric epilepsy at SickKids Hospital, post-traumatic stress disorder at the University of British Columbia, and chronic obstructive pulmonary disease at McGill University Research Centre.

 

One Toke Over The Line Now On A High

WASHINGTON: When Barack Obama said it was time for Americans to have a national “conversation” on marijuana laws – he was careful to say he did not support legalization – back in December, the President, who smoked pot with the “Choom Gang”, high school stoners, was trying to catch up with the nation’s rapidly shifting mood. [Read more…]

One Toke Over The Line Now On A High

WASHINGTON: When Barack Obama said it was time for Americans to have a national “conversation” on marijuana laws – he was careful to say he did not support legalization – back in December, the President, who smoked pot with the “Choom Gang”, high school stoners, was trying to catch up with the nation’s rapidly shifting mood. [Read more…]