Medical Kiwi Limited

By Medical Kiwi

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About

Medical Kiwi Limited

 

Medical Kiwi has now raised $2million, the legal maximum of what we can raise per 12 month period from the New Zealand public. Please register your interest here to be kept in the loop around future equity crowdfunding rounds with Medical Kiwi. If you are a Wholesale Investor, you could still invest. Please contact us on [email protected] for more details.

 


 

We are focused on being part of the way the world delivers its healthcare by taking an innovative, science-based approach to developing and delivering cannabinoid products for those who need them the most.

 


From the Founder


More and more people are realising the benefits of plant-based remedies and alternative therapies. And their experiences are supported by a growing library of medical research which continues to identify the therapeutic benefits and pharmaceutical uses of medicinal cannabis and cannabidiol (CBD) for a range of ailments and conditions.

Like you, we’ve been watching with interest as countries around the world open up access to medicinal cannabis and CBD products. We’ve read the research, talked with start-up companies and listened to the amazing stories from those using these products about the positive impact it has had on their lives.

The potential of the medicinal cannabis and CBD wellness industry is shown in the rapid growth and scale achieved by businesses in countries to have already legalised the cultivation, production and use of these products. And as scientists learn more the demand is increasing. Globally, the medicinal cannabis industry is forecast to be worth USD $150 billion by 2025. (Grand View Research, 2018)

We believe that medicinal cannabis and CBD are part of a long-overdue health and wellbeing revolution that could replace so many other pharmaceuticals and benefit millions of people. We’re excited about the opportunity to bring these products to market in New Zealand.

Medical Kiwi is in a unique position as one of a few licenced New Zealand companies poised to create value and carve out a significant share of this emerging and exciting global industry.

We’re ready! Since 2018 we have:

• built a strong health-based, scientific and business savvy team

• developed a clear plan for product development, distribution, and research

• successfully raised our initial seed fund capital

• signed partnership agreements with global industry-leading companies, including pre-selling our entire first two years production worth $90 million to Hektares, a global player in the medicinal cannabis industry

• secured a greenfield site for our state-of-the-art facility in Nelson, and secured a 20-year lease for our initial factory in Christchurch

• been granted a licence to cultivate from the Ministry of Health with further licences pending

You’ll see throughout this document we talk a lot about providing certainty - certainty about our plans, about this investment opportunity and about the regulations that will govern the industry in New Zealand. We have chosen to take a conservative approach and wait until we have a complete picture of what New Zealand’s medicinal cannabis industry could look like before taking our investment opportunity to the market. We believe the timing is now right.

The future is exciting and you can be a part of it. We know that many Kiwis want to help Kiwis have greater access to safe, consistent, affordable, high-quality medicinal cannabis and CBD wellness products. The time to participate in the opportunity that Medical Kiwi represents is now.


Aldo Miccio

Co-Founder and Chairman

New Zealand is adding its name to the growing list of countries changing legislation to enable access to high-quality, affordable medicinal cannabis and CBD products and we think that’s exciting!

Until recently, cannabis has been a globally prohibited substance. Many people are unaware of the medicinal properties of cannabis and those who want to use it for medicinal purposes can face crippling costs and a severely restricted and unreliable supply. Scientists believe the bioactive constituents in cannabis can provide a range of physical and psychological health benefits. Medicinal cannabis products are in demand in countries that have already legalised the cultivation, production and use of full-spectrum medicinal cannabis products and CBD, and as scientists learn more about the therapeutic benefits and pharmaceutical uses, demand is increasing.

In December 2018 New Zealand’s Government passed legislation intended to improve access to medicinal cannabis and CBD products. The Medicinal Cannabis Scheme enables domestic cultivation and manufacture of medicinal cannabis products, and enables the setting of minimum quality standards for products and all stages of production. The regulations that govern the Scheme were announced by the Ministry of Health in December 2019. From 1 April 2020 New Zealand companies can now grow cannabis for the purposes of making medicine. They are also permitted to produce and distribute that medicine.

The products will still need to be prescribed by a doctor, and can only be bought directly from a medical practitioner or pharmacy. It’s encouraging that licences to cultivate, manufacture and supply medicinal cannabis products will be affordable which will help New Zealand businesses compete well with overseas providers.

Alongside the legislative change, New Zealand society’s attitudes towards medicinal cannabis are also evolving. A poll commissioned by the New Zealand Drug Foundation in 2018 found that 87% of New Zealanders support medicinal cannabis for the treatment of pain and 89% support the use of medicinal cannabis as terminal pain relief.

A major opportunity now exists for companies to leverage New Zealand’s provenance, reputation for innovation and areas of competitive advantage to cultivate, produce and sell medicinal cannabis and CBD products domestically and globally.

And Medical Kiwi is positioning itself to manufacture and supply high-quality medicinal cannabis and CBD products for both the local and international markets once the licenses are granted.

 


Size of the market

250,000 New Zealand  casual cannabis users, 25,000 New Zealand  pallative care users, Globally $150 billion  by 2025

The global industry is poised to grow by USD $22.33bn during 2020-2024 at a compound annual growth rate of over 24%. The New Zealand Ministry for Business Innovation and Employment (MBIE) forecasts the domestic medicinal cannabis market to reach $320-$500m within 10 years, and $250m worth of exports. The broader cannabis health product segment could represent a $1b market opportunity per annum in New Zealand.

The New Zealand Ministry of Health estimates that more than 250,000 casual cannabis users use it for medicinal purposes. There are also approximately 25,000 New Zealanders that need or could benefit from the introduction of medicinal cannabis products for palliative care each year (Business Wire, 2018).

The global cannabis market is estimated to be valued at USD $150 billion by 2025 (Grand View Research, April 2018).

 


Our innovative plans to cultivate change 

New Zealand’s Medicinal Cannabis Scheme has been operational since 1 April 2020 which allows for the local cultivation and manufacturing of medicinal cannabis products that will potentially help ease the pain of thousands of people.

This sentiment is at the heart of our innovative plans to cultivate change. We have a clear philosophy to realise the local and global opportunities for high-quality, safe and consistent medicinal cannabis and CBD products to bring about real change in people’s lives and health outcomes.

Learn more about our innovative plans to cultivate change in our Information Memorandum:

 


Advancing the industry through research 

We’re committed to an ongoing programme of advanced research and technology to support the development of our unique, safe, high-quality Medical Kiwi medicinal cannabis products. We plan to adopt relevant global technological advancements and work with industry leaders in research and development which will allow us to be agile in our response to market needs with the goal of setting an elevated benchmark as innovators and leaders in the industry.

Our research schedule consists of:

• International collaboration into the effects of the bioactive components contained in cannabis

• Research into the effects of growing conditions, especially light, on cannabinoid and other active ingredient outcomes, in a replicable way

• Develop, or contribute to, certification of standardisation of the beneficial bioactive properties of cannabis extracts

• Establishing protectable intellectual property

 

 


Cultivating consistency and certainty 

We have an uncompromising commitment to consistency and certainty. We aim to achieve this by breeding and growing cannabis strains of the highest quality in our state-of-the-art facility with indoor production processes, and partnering with global industry-leading companies that have the same commitment.

Our state-of-the-art indoor medicinal cannabis research, cultivation and processing facility will be based in Nelson. We have secured an eight-hectare greenfield site in Brightwater which is strategically located for operational logistics and product distribution. Plans for an 8,000-10,000 m2, two-story building have been developed. The facility will be built by a developer with Medical Kiwi leasing it at market rates. Due to Covid-19 delays, we now expect to start building this facility in the next 12-18 months.

Meanwhile, to become operational sooner, we have secured a lease on a building in Christchurch that is already fit for purpose and can comply with the strict New Zealand and international Medicinal Cannabis licensing conditions. We will operate solely from this facility until our Nelson site is ready.

Sustainability and environmental responsibilities were central to the development of our building plans which include extensive solar power, energy-efficient initiatives and sustainable considerations in all aspects of its ongoing operations, such as waste disposal. It is envisaged that early engineering will maximise energy efficiency so that the entire building and growing system’s electricity can be powered by a one-megawatt solar power energy system. The facility will also incorporate sophisticated security systems, world-class growing room-specific apparatus such as climate control, irrigation, lighting and extraction system.

When in full production, estimated to be early 2024, our Nelson facility is designed to produce 30,000 - 35,000 kg of dried product per annum, with a value today of $100 - $110 million. Our Christchurch facility will be equipped to produce 6,000 - 10,000 kg of dried product, valued today at $18 - $30 million per annum.

We believe our facilities and the products we create will have significant economic benefits for the Nelson Tasman and Christchurch regions, and for New Zealand, and we expect to employ 190 staff when in full production.

Learn more about our facilities in our Information Memorandum:

 


Manufacturing and distributing unique products 

With an emerging industry, it is important that advances are aligned with customer segments and demands. Our marketing insights will inform our cultivation, manufacturing and distribution decisions. We aim to create fit-for-purpose, verified and credible medicinal cannabis and wellbeing products utilising innovative science and technology. By partnering with Empirical Labs, a world leader in formulation and enhanced delivery methods, we believe we can get proven medicinal and wellness cannabis products to both the domestic and global market quicker.

Our exclusive distribution agreements with Vitality CBD and Liberty Herbal Technologies mean we’re well positioned to be one of the first to market with high-quality, innovative products. It also means we could establish distribution networks that we can use for our own unique Medical Kiwi produced products.

Learn more about our facilities in our Information Memorandum:

 


We’re a team committed to scientific, health-based success 

We have a strong health-based, scientific and business savvy team-leading Medical Kiwi’s exciting future. Our team of professionals in medicine, biochemistry, governance, investment and sales oversee Medical Kiwi’s operations.

We’re confident their specialist knowledge, skills and proven corporate governance put Medical Kiwi in a position to achieve our goals and begin generating revenue from early 2021.


Aldo Miccio
Director and Chairman

Aldo has had an extensive international career in senior management and governance as well being a past Mayor of Nelson. His broad experience, spanning 27 years, includes executive chairmanships and directorships in industries ranging from property, retail, agriculture and FMCG to public and state services. With an entrepreneurial spirit and strong commercial background, his expertise includes strategic planning, product management and design, and sales and marketing. The opportunity to enhance community wellbeing and enable changes in people’s lives and health outcomes was a key driver for him co-founding Medical Kiwi.


Peter Win
Director (Operations)

Peter has considerable breadth and depth of business experience, with a passion for pioneering new industries. He has worked in some of the most technically advanced industries, reaching senior levels of management in large-scale international energy projects and the marine engineering industry. Peter’s motivation for co-founding Medical Kiwi was a strong belief in the potential of medicinal cannabis to improve social wellbeing and provide health benefits for the wider community after experiencing how the industry had helped build better communities overseas.


Dr David Porter
MBChB, FRACP
Director (Medical)

David is a Consultant Rheumatologist with 27 years’ experience in the medical field. Porter Rheumatology, David’s practice in Nelson, provides specialist medical and nursing care to people with auto-immune and inflammatory disorders, as well as fibromyalgia patients. David is committed to finding more effective, accessible and affordable ways to manage his patients’ pain. David joined Medical Kiwi because he’s passionate about providing the highest quality medicinal cannabis products at the best possible price point.

“I’ve been prescribing CBD for my fibromyalgia patients since it became legal 2 years ago. Conventional pharmaceuticals tend to be ineffective at treating this condition and commonly cause debilitating side effects like drowsiness or mental fogginess. In stark contrast, CBD has proven to be head and shoulders above other treatments in terms of its lack of side effects, most importantly, but also the very considerable benefits to sleep, relaxation and pain relief. It is by far the most beneficial treatment I’ve used for these patients.”


Dr Michael Packer
PhD (Biochemistry, Cell Biology), MSc (Marine Science), BSc (Biochemistry)
Director (Science and Research)

Michael is a biochemist and natural products biotechnologist with a career spanning 28 years and an extensive track record of scientific research. Algae farming methods for carbon recycling/capture, biofuel production, bio-based materials and for healthy food ingredients, bioactives, nutraceuticals and cosmetic ingredients has formed the basis of his research and professional specialty. His work involves using custom-built bespoke photobioreactors which enable algal growth under controlled conditions. He is excited to bring his knowledge and expertise to Medical Kiwi to help guide rigorous evidence-based development of natural products to benefit human health.


Bruce Whall
CA, B.Comm (UNSW), FAICD
CFO

Bruce is an experienced senior finance and business executive with wide-ranging management experience and a clear understanding of the mechanics of business. With a career spanning 40 years, Bruce has extensive competency across strategic business planning, mergers and acquisitions, finance, accounting, taxation, working capital management, treasury and operations.


Nic Kidson
GM Sales & Marketing

Nic has a sales, marketing and business background that spans more than 20 years across a range of industries, including New Zealand’s niche seafood and wine industries. She brings a wealth of knowledge and diverse practical business application, as well as a passion for health, wellbeing and the environment. Nic is excited about what medical cannabis can do for people and wants to be a part of all the good that it can do for New Zealanders.


Learn more about our team and our partners in our Information Memorandum:

 


Share Offer 

Medical Kiwi is seeking to raise $3 million of investment capital in support of our business strategy.

Current shares on issue

In order to successfully market Medical Kiwi we have used an integrated channel network of trusted partners, including online platforms, private equity funding, and now crowdfunding specialists.

The company was formed with 30,000,000 shares. An additional 2,560,000 shares were issued in the seed funding round. There are now 3,000,000 shares on offer through our crowdfunding investor and wholesale investor raise which will bring the company to a total of 35,560,000 shares. Convertible notes have also been issued in receipt of loans, with the option of converting to shares within the next ten years. Should the option to convert be fully taken up, 3,257,700 shares would be issued.

There are two types of shares on offer: Class B Investor shares and Class A Ordinary shares (more detail below). Class A Ordinary shares shall have the same rights attaching to them as the existing shareholders in the company including the right to vote at shareholders meetings.

Class A Ordinary Shares shall have voting rights attaching to them enabling these shareholders to vote at shareholders meetings.

The minimum holding for Ordinary Shares has been set at 40,000 shares. Wholesale investors must submit a completed certificate confirming the applicant’s status as a wholesale investor as defined in clause 3 of Schedule 1 of the Financial Markets Conduct Act 2013. A copy is available on request. Class A shares will be capped at no more than 50 shareholders.

Class B Investor Shares shall carry non-voting rights at a shareholders meeting. The maximum any one investor can invest via the crowdfunding campaign is $200,000.00 (equivalent to 10% of the maximum capital raising).

 


Financial projections

The financial projections for Medical Kiwi have been based on research from Canada, the United States and Australia while taking into account our local legislation and environment. Some of this information is a combination of data from companies that are currently producing medicinal cannabis products as well as anecdotal information.

Strong growth is expected as regulation takes hold, the industry becomes more established, new market segments emerge and facilities are expanded. Financials are based on a three-way cash- flow forecasting model, incorporating full profit and loss and balance sheet forecasts.

 

Read our financial assumptions and balance sheet in our Information Memorandum: 

 

 


Risks and Mitigation

A flooded market with increased competition
We believe our points of difference will set us apart from the competition. These include being one of the first companies to bring products to the market now that the Medicinal Cannabis Scheme is operational, and establish brand presence. Our operations will aim to cover the full process from cultivation to the production of rapidly evolving consumer products. We believe our seed-to-sale vertical integration approach will set us apart from other companies in New Zealand who might focus solely on cultivation or research.


Unforeseen circumstances delay the build of the facility, research and product development
We have consulted extensively with design experts in relation to the layout and design of our state-of-the-art facility. In the unlikely event of further delays, our planning ensures we can continue to operate out of our Christchurch factory while building work is being completed.


Our Christchurch factory is not ready on time
If the ontime completion of the Christchurch facility in October 2020 was delayed, it would affect the timing of the first cultivation cycle, and could affect sales revenue and license approval timing. Our team and processes will attempt to mitigate this risk.


Our Hektares deal falling through or not being delivered in full
We have spent significant time on this deal. We currently have an MOU and a supply agreement in place with Hektares, and once our facility is complete in Christchurch we will be formulating an order and delivery schedule from January onwards. As noted in the risk above, our timelines could be delayed. There is also a possibility that in Year 2 of our agreement we will not be able to fulfill the full order as noted in our financial assumptions, but we are evaluating different ways as our plans rollout of meeting their current demand (and that of other potential buyers).


Failure to raise capital
If we are unable to raise the minimum $500,000 sought, we will seek further funding from private investors.


Working Capital/Cashflow
Our financial forecasting shows that we have adequate working capital.


Market price of raw materials reduces
We will aim to produce value-adding high-grade medical cannabis products as a point of difference.


Failure of crops
Our crops will be grown indoors in a safe, controlled environment. We will rotate and segment our growing areas. Both of these approaches will minimise the risk of damage to crops.


Challenges with distribution of imported and our own products
We have successfully established distribution and uptake agreements with international companies with Memorandum of Understandings in place and additional agreements currently under discussion. Our strategy to import and distribute our partners’ products is designed to have a two-fold advantage: 1. It would create short-term and ongoing cash flow for the business. 2. It would establish distribution networks that could be utilised once Medical Kiwi production is established.

 

 

 


A Note from PledgeMe

We have completed a Veda check on the company and its Directors, as well as Google checks. One Director, Peter Win, had two bank defaults on his credit report from a previous relationship that he is disputing. There were no other adverse findings. The Directors have also all passed police vetting and responsible person's tests as part of the cannabis research license approval.

 

Updates 3

You need to pledge to see this update.

We’ve met our minimum goal!

19/08/2020 at 10:30 AM

All of us here at Medical Kiwi are really pleased to have met our minimum goal in such a short amount of time. We believe it shows there is a real passion for the industry in the community and that people understand what a huge positive change affordable medicinal cannabis is going to make in peoples’ lives . We're really looking forward to starting our cultivation programme in the coming months with the aim of having our first orders sold and delivered in February 2021.

 

We’re still going to reach our maximum goal of $2,00,000 through the public, and $1,000,000 through wholesale investors. If we hit our maximum goal we can do more research and development, set up our dosage product production lines, and aim to grow faster.

 

If you haven’t already pledged, please consider doing so. If you have - please share our campaign with your crowd.

 

Here’s the link again: https://pledgeme.co.nz/investments/412

 

Kind regards,

 

Aldo and Pete

 

Crowdfunding commences tomorrow

16/08/2020 at 11:35 AM

We will be launching our equity crowdfunding campaign at 8am on Monday privately to you, our registered investors. Here’s the link for you to make your pledge from 8am tomorrow: https://pledgeme.co.nz/investments/412. We will then launch publicly at noon. 

 

You can read our full Information Memorandum (IM) now here. If you have any questions about the IM, please email us: [email protected]

 

If you wanted to ask your questions live, we’re also hosting a Facebook Live tonight (Sunday) at 8pm. Here is the link: https://www.facebook.com/MedicalKiwiNZ/live/. If you like our Facebook page, you should be notified when we go live as well.

 

To make sure you’re ready to invest on tomorrow morning, please register as an investor on PledgeMe now. Here’s the link to register as an investor, or if you need instructions here they are. If you have any questions, contact the team at PledgeMe ([email protected]). 

 

Thanks for your interest in Medical Kiwi, and we look forward to welcoming you as shareholders. 

 

Aldo and Peter

 
 

Find out more

1.  Information on what it means to be be an investor: https://guide.pledgeme.co.nz/what-does-it-mean-to-invest.

2. Register for free as a Medical Kiwi VIP at our Nelson event on Wednesday 26th August: https://www.commerce.org.nz/event/findex-ba5-medical-kiwi

3. Follow Medical Kiwi on Facebook.
  
 
 

    Details

    Offer Details

    Current Valuation 32,560,000
    Raise Minimum 500,000
    Raise Maximum 2,000,000
    Share Price 1.00
    Maximum Shares Offered 2,000,000
    Explanation of valuation:

    Our offer reflects a valuation undertaken by financial advisors and has been based on international market research from Canada, Australia and the United States of America.

    This includes anecdotal information as well as data from companies currently producing medicinal cannabis products. It is important to acknowledge that, as this is a new and emerging industry both globally and in New Zealand, it is difficult to perform a comparative analysis.

    We have valued Medical Kiwi and the company shares at a pre-raise valuation of $32,560,000.

    The valuation we believe is conservative, with Medical Kiwi adopting lower profitability and revenue formulas than what is generally accepted in the industry. We have discounted valuation multipliers of net profit after tax to a factor of approximately 2.75 based on NPAT of $11,880,022 by the end of 2021, to give us our valuation of $32,560,000. This is of course backed against sales agreements in place and assumptions as outlined in earlier sections.

    The valuation we have undertaken can be compared to other similar companies in the industry. The table in our Information Memorandum reflects three cannabis companies with a presence in New Zealand and Australia, and how their respective actual retained earnings (losses) compare with market capitalisation on their respective stock exchanges.

    Financial Summary

    Prev Year Current Year Est. FY 2022 Est. FY 2023
    Revenue NZ $0 NZ $0 NZ $23,582,667 NZ $36,486,833
    Operating Expenses NZ $575,247 NZ $484,573 NZ $4,710,601 NZ $6,774,931
    EBITDA -NZ $575,247 -NZ $484,573 NZ $16,338,816 NZ $24,631,502
    Net Profit -NZ $575,774 -NZ $584,922 NZ $11,880,022 NZ $17,537,783

    Company Details

    Company Name: Medical Kiwi Limited

    Company Number: 7135337

    Company details are currently being synced with the Companies Office, please wait.

    Company Documents

    Documents no longer available to download, as this campaign has closed

    Director Details

    Name Role Profile URL Invested?
    Aldo Miccio Director and Chairman https://au.linkedin.com/in/aldomiccio
    Peter Win Director (Operations) https://nz.linkedin.com/in/peter-win
    Dr. David Porter Director (Medical) https://nz.linkedin.com/in/david-porter-nz
    Dr. Michael Packer Director (Science and Research) https://nz.linkedin.com/in/mike-packer

    Questions 30

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    "signed partnership agreements with global industry-leading companies, including preselling our entire first two years production
    worth $90 million to Hektares, a global player in the medicinal cannabis industry"

    For an industry leading company, Hektares has almost no online presence bar a facebook page, a LinkedIn page to their CEO, and a wordpress website for the company.

    Has pledge me undertaken any due dillagence on Hektares financials regarding their ability to pay for $90M over two years?

    https://hektares.wordpress.com/?fbclid=IwAR1T_MMnGQFtt1ZA_7GQEwBwW_KOCVtywhpH00aH3lJR8aCw-yqTEuXMiA4%2F

    https://www.facebook.com/Hektares-109594490698199/about/?ref=page_internal&path=%2FHektares-109594490698199%2Fabout%2F

    Futhermore, for a company able to undertake wholesale purchase and redistribution of $45M/year. Their presence on LinkedIn is very sketchy.
    https://www.linkedin.com/search/results/all/?keywords=hektares&origin=GLOBAL_SEARCH_HEADER

    Posted on 18-08-2020 by John sia

    Thanks for your question, John.

    Hektares are a private Singaporean domiciled investment holding company with ownership interests in a number of cannabis companies globally and that could explain why they do not have an extensive public face. Our contract is with Hektares the parent company, but is underpinned by orders that they procure directly and indirectly from their other entities. We have in place an MOU as well as a sales agreement for the 2 year period, and we are currently working out a delivery schedule that we hope to meet from February next year. We also have arrangements with other partners and clients globally including Vitality and Empirical Labs  as well as other companies which we have concluded sales agreements with and or are in negotiations with. 

    PledgeMe have viewed our Letter of Intent with Hektares, but it is up to each investor to ask questions and complete their own due diligence. 

    Kind regards
    Medical Kiwi

    Answered on 18-08-2020 by Medical Kiwi


    What is the difference between a and b class shares?

    Posted on 19-08-2020 by Karl Sutton

    Hi Karl,

    Thanks for your question!

    A Ordinary Shares have voting rights and are issued to anyone who pledges over $40,000. B Investor Shares have non-voting rights. You can read more about the types of shares in our Information Memorandum.

    Kind regards,
    Medical Kiwi

    Answered on 19-08-2020 by Medical Kiwi


    Hi, I’m a grower myself and was wondering if there is a problem by being a shareholder and working on the same industry. Regards. Macarena

    Posted on 19-08-2020 by Macarena

    Thanks for your question, Macarena.

    There are potentially no legal complications or issues investing, but it could depend on your conflicts of interest policy. If you have an employer, I would suggest you speak with them about this. The team at PledgeMe have seen competitors invest in each other's businesses through the platform in the past.

    Kind regards,
    Medical Kiwi

    Answered on 19-08-2020 by Medical Kiwi


    Is your purchase agreement binding ? I ask this question due to the fact PURO NZ claimed they had purchase agreements and when they came to sell, their agreements were non binding. Clearly only like a MOU Memorandum of Understanding. Are your agreements binding ?

    PURO NZ has misled their investors by all accounts they knew the agreements they had were not binding.

    Posted on 19-08-2020 by Willard Wonka

    Thanks for your question, Greg.

    There's always a risk that a client will not be able to perform their contractual obligations whether it's a binding or nonbinding MOU, contract or agreement of any nature. Our team is confident that Hektares have the ability and resources as well as intent to fulfill their contractual obligations of ordering 12 tonnes of product in year one and 24 tonnes of product year two. More the issue is that Medical Kiwi may not be able to satisfy the demand from Hektares, as reflected in the risk section of our IM. Our IM financials reflect what we believe we can satisfy while also diversifying with other clients to try and mitigate any risk from a single client.

    Answered on 20-08-2020 by Medical Kiwi


    Is there a set amount to pledge?

    Posted on 19-08-2020 by Bev

    Thanks for the question, Bev. The minimum pledge amount is $500 for 500 shares. You can pledge anywhere up to $200,000.

    Answered on 19-08-2020 by Medical Kiwi


    QUOTE "One cannabis industry player who didn’t wish to be named said the financial projections were “quite literally impossible” unless the company had a large-scale, GMP-certified, fully integrated facility running today and about $50m of capital."
    what is the Capex on the new fit-out of the new building and please comment on the above quote.

    Posted on 20-08-2020 by John Smith

    Hi John

    Our financial projections are based on revenues underpinned by contract orders from two clients as well as a number of MOUs with various other potential clients as highlighted in our Information Memorandum. Our Christchurch facility will not be able to satisfy that demand, hence our first-year sales projections from the Christchurch facility are NZD$23 million. We have conservatively based this on NZD$4000 per kg of dry flower, producing 5750kg of dry flower per annum. Medical grade global wholesale prices are on average about NZD$7000 per kg of dry flower.

    World wide data from indoor cannabis grow facilities and government studies undertaken in various countries, such as PWC in Australia, all confirm an average yield of 700grams per plant. This a conservative yield for the various species that we will be using.

    Our grow space on a tri-stack system can accommodate as many as 4000 plants and using a sea of green system about 1200 plants. The strains we will be using we can achieve between 3 to 5 cycles per year.

    This combination can comfortably give us our total estimate quantity of 5750kg of dried flower per annum.

    We are currently retro fitting an existing building in Christchurch with a 20-year lease (10 years plus 10 years). Our fit-out cost of this building is NZD$700,000 dollars, and we are expected to complete it at the end of September. We are funding this from pre-existing funds, and not crowdfunding capital. Three of our Directors have previous experience in setting up a nutraceutical GMP facility, so they understand how to do this correctly.

    The plant and equipment costs for labs, mother rooms, grow rooms, air circulation, heating, climate control, hydroponics, etc, is a total of NZD$800,000. Total costs are therefore NZD$1.5 million, a very distant figure from the unnamed and unqualified source who believes it would cost $50 million. Possibly this person was assuming we would be building a new facility not leasing a pre-existing facility. Possibly they were also basing their estimate on our end use Nelson facility which we aim to produce 30,000 to 35,000 kg of dry flower by end 2023. Even then, the cost in today’s climate is more like NZD$25 million, not NZD$50 million.

    Answered on 20-08-2020 by Medical Kiwi


    Will the announcement from Canada and Germany not allowing any import of Cannabis or Biomass now impact on your operation ?

    Which of the Directors in Medical Kiwi have previous experience in setting up a nutraceutical GMP facilitys here in NZ please ?

    What were those company names also ?

    Posted on 20-08-2020 by Willard Wonka

    Medical Kiwi’s primary exports will be extractions and eventually dosage products, so any restrictions on biomass is not relevant for us. In fact, Germany is about to pass new legislation opening up further their limits on non-German manufactured extractions (due to the limited supply and high demand), which is great for us. Their one pre-condition is that it is GMP certified which is what we will be supplying. Dr Mike Packer is from the Cawthron Institute and our Chairman, Aldo Miccio, is a founder and Director of ASX listed New Zealand Coastal Seafoods, which is a marine biotech company supplying nutraceutical ingredients to the global pharma industry. Peter Win is a founder and BD Manager of New Zealand Coastal Seafoods.

    Answered on 20-08-2020 by Medical Kiwi


    Will we be able to add our shares in Medical Kiwi to an online portfolio such as Sharsies once Medical Kiwi is up and running?

    Posted on 20-08-2020 by Hunter Higginson

    Hi Hunter
    Sharsies don't trade unlisted companies (yet), but there are some other platforms that do, and we're working through selecting one at the moment.

    Answered on 21-08-2020 by Medical Kiwi


    ive already invested 500 can i invest again and increase my shares

    Posted on 21-08-2020 by nigel lloyd

    Hi Nigel
    Yes, you can just pledge again, or if you want to add less than $500 you can email PledgeMe ([email protected]) to request a change.

    Answered on 21-08-2020 by Medical Kiwi


    Hi- I note that there are 3 or 4 licenses that you are still waiting approval for. What are the chances that these licenses aren't granted? Cheers

    Posted on 21-08-2020 by Mark Hamilton

    Hi Mark. As we have already have a record of license approval, and have the same professionals handling this application, we see no reason why they wouldn't be granted.

    Answered on 21-08-2020 by Medical Kiwi


    Hi, where do I find the bank details for my deposit?

    Posted on 21-08-2020 by Gee Fin

    Hi Gee. Once you make a pledge you will be taken through a process that will include adding your bank account details.

    Answered on 24-08-2020 by Medical Kiwi


    Will Medical Kiwi conduct animal tests?

    Posted on 21-08-2020 by Annelies Basten

    Hi Annelies. No, Medical Kiwi will not be conducting animal tests.

    Answered on 24-08-2020 by Medical Kiwi


    Hi. What happens if the maximum target is not reached? Will confirmation of the pledges still go ahead and if not will the pledge money be returned. Thanks for the info.Marcus.

    Posted on 22-08-2020 by Marcus Broughton

    Hi Marcus. It is only the minimum target that needs to be reached, and it already has been reached. No money is taken until after the offer closes. The offer will close on 17 September, unless it is fully subscribed earlier.

    Answered on 24-08-2020 by Medical Kiwi


    Hi, 2 questions: how do unlisted shares get traded? Secondly, i see the number of shares x $1 = market valuation, if the 3m on offer doesn't all get fullfilled (say only 1.5m get purchased) does the share price increase or the shares exist but aren't purchased?

    Posted on 22-08-2020 by chris

    Hi Chris. We are working on confirming a way to easily trade your Medical Kiwi shares. For now, a shareholder can sell them to a willing buyer at a price agreed by both people by completing a share transfer agreement and sending it to us. There is no pre-determined share price. If you want to discuss this further, please give me a call on: 0274 502 888. Thanks Nic.

    Answered on 24-08-2020 by Medical Kiwi


    Is Medical Kiwi's success dependent on the result of the "Reeferendum" vote in October? If the referendum doesn't pass, will that mean that Medical Kiwi's plans couldn't proceed?

    Posted on 22-08-2020 by Ally

    Hi Ally. The referendum is for recreational cannabis, which is not related to our medicinal cannabis company. The Medicinal Cannabis scheme came into effect on 1 April. Since then any GP can prescribe medicinal cannabis.

    Answered on 24-08-2020 by Medical Kiwi


    Can work visa holders invest?

    Posted on 22-08-2020 by Jaineet

    Hi Jaineet. We have been advised that work visa holders can invest too.

    Answered on 24-08-2020 by Medical Kiwi


    Hi there
    Very interesting what you’re are doing. I just have a couple of questions.

    You have mentioned throughout the MOU that this is a global industry, yet you are comparing Medical Kiwi to New Zealand companies in this space. Why is that? Does growing in New Zealand create a competitive advantage within the global industry in some way? Possibly bilateral cannabis trade agreements between New Zealand and countries with a market, limiting imports from other countries?

    In addition to this I would like to know about your Seed to Sale vertical integration approach.
    “seed-to-sale vertical integration approach will set us apart from other companies in New Zealand who might focus solely on cultivation or research.”
    There are well known listed companies in the cannabis space that cultivate, research, extract and sell, yet still have never made a profit. You are competing in a highly competitive space with some specialised extractors capacity as high as 150 000 kgs of dry flower a year. Their economies of scale are vast and I would imagine the same goes for specialised growers and researchers.

    Taking into account what you have said about the company operating in the global industry, what is the competitive advantage in the seed to sale approach? Why not specialise?

    Thank you in advance.
    Josh

    Posted on 25-08-2020 by Joshua Stubbs

    Hi Josh. New Zealand products, especially nutraceuticals, hold a unique brand positioning globally. We are targeting medical grade cannabis which we are able to export to global markets. Although there are companies globally and within NZ looking at seed to sale, there are relatively few that are medical grade GMP certified. At full production we expect to produce 35,000 kg per year, so it is not a boutique operation. Seed to sale also gives us the opportunity to tell our full provenance story, as well as being flexible as the industry develops it cultivation and manufacturing capabilities. Happy to answer any further questions.

    Answered on 25-08-2020 by Medical Kiwi


    If the referendum passes, is there any likelihood that Medical Kiwi makes a foray into the recreational space?
    If so, in what capacity, and if not, what are the reasons?

    Posted on 25-08-2020 by Taylor Rooney

    Hi Taylor. We are focused on medicinal cannabis only, and our business model is built on that. The recreational space, should it go ahead, is an entirely different proposition, and is uncertain at this stage.

    Answered on 25-08-2020 by Medical Kiwi


    Hi There, Will you be growing indoors or outdoors, and what type of extraction will you be using in your products? What is the product type that the forward contracts are requiring?

    Posted on 26-08-2020 by Reid Stewart

    Hi Reid, we will be growing indoors. Indoor growing is required for us to meet our clients' minimum requirements and standards for quality products for medicinal purposes. These products will be dry flower as well as oil extractions primarily used in tinctures.

    Answered on 26-08-2020 by Medical Kiwi


    Is there any chance you could provide some fundamentals on the financial summary i.e. EPS, BPS, price-to-book etc.? Just wanting to get an idea of how $1 a share weighs up against the company valuation

    Posted on 26-08-2020 by Den Barrett

    Thanks for the question, Den! Our valuation and methodology is outlined on page 28 in our Information Memorandum. Let us know if you have any other questions.

    Answered on 27-08-2020 by Medical Kiwi


    Hi Guys.

    I’ve just read your growing statistic. I’m rolling on the floor laughing my head off. 🤣🤣
    Honestly I’ve never heard crap like this.
    I had been growing commercial quantities of weed for a long time in a very sophisticated set up. Eventually was caught with 3000 plants , got severely told off by a high court judge and had a holiday at Spring Hill correctional institute.

    Every crop in the world is priced on a tonnage per hectare, there is no other way, period. So start talking kilos per square meter. Then I might take you half seriously .
    We were cloning off mother plants ( which reduces the potency) so for super high quality you need to grow off seeds.
    Here’s how it works , 21 days (3 weeks)to get clones rooted , minimum 28 days (4 weeks) vegetative cycle (18 hour lights on , 6 hours lights off,
    Flowering or budding cycle (lights 12 hours on 12 hours off). 56 days (8 weeks )
    Each plant produces on average half an ounce of dried flower / buds.

    Start to finish is minimum 15 weeks So straight away you are down to 3 cycles per year. One bug gets in there and you loose a cycle. The best you can get consistently is about 1/2 pound per 600 watt light or per square meter.

    Sea of Green was what we used to do. Put more plants in the same area but they will only ever produce what the light system will allow, so it makes no difference.
    If it did we would plant more trees or grapes or potatoes to increase our yield. It dosnt work that way.

    2.2 pounds per kilo. .5 pound equals .22 kilo

    So in order to produce 1800 kilos ( 3968 pounds) per cycle you will need some serious operation.
    So 1 pound per 2 square meters. (You won’t beat that consistently ) You will need a grow room equating to 8000 square meters.
    When you take in your walkways and set out you will need close to 14000 square meters of grow room .

    All these statistics are available on the USA DEA ( drug enforcement agency) You can check if you want.

    After you take your executive offices and research centre out you are not left with much more than 2000 Sqm for your grow rooms.

    Only a mad man would put the whole lot in one area. Disease gets in there and you loose everything. It happened to us many times.

    At a business level a 30 million dollar order is a serious order, If I was an investor I would most definitely want to see a deposit in the order of 30 percent or 10 million up front,
    Now you have to ask yourself if you got a 10 million dollar payment into you accounts why would you need to crowd fund this project.

    No mention of expenses,
    Ask about the power bill for lights , air con ,
    Maybe ask about the bill for security. I’m sure there’s a lot of people out there planning raids. If they ram raid dairies for cigarettes what will they do when they know there’s 3000 fully budded up plants in that compound.

    Directors fees are gonna be high. Doctors don’t work for minimum wage.

    I’ve seen some scams over the years but this cannabis thing is getting out of hand.
    Canada already has 2 years supply of premium quality buds they can’t sell.
    Why wouldn’t this company just put an order in with them.

    You have never even extracted the oils, Maybe take a trip to Morocco and the Riff mountains, where they produce hash for most of Europe. You might learn something there. I have been there and it’s amazing if you are a weed smoker.

    Leads me to ask how much they are paying per liter of extract because thats the end product . How much oil per kilo?. Pretty easy equation to work out.

    Your management team look a bit suspect as well
    Whats the total growing experience, Some basil in the back yard planter boxes, from there you are naturally stepping up to grow 5000 kilos of high quality weed. Sounds like a natural progression , Basil for pesto and flat breads , straight to 30 million dollars of weed. What’s wrong with this picture.
    What do you need a Doctor in the equation for if you are selling to another company for processing .

    Good luck if you are investing because you are gonna need miracles for this baby to work.
    Ps I stand by everything I said . As a commercial cannabis grower (albeit illegal at the time )and businessman for a long time I see some serious faults in your proposals.
    I have no problems discussing them with any interested parties. Maybe we could do it on your live Facebook feed.

    Kindest regards
    Nick

    Posted on 26-08-2020 by Nick

    Thanks for your question, Nick. Things are definitely different for those that grow legally and with technology.

    There are a few incorrect assumptions in your comment that do not match the information we have provided in this campaign or global experiences. We've outlined these below in response to your comments and questions.

    * All crops are priced on tonnage per hectare - we will track many things, including tonnage per hectare. We have seen other established operations talk about kilograms (or pounds) per plant as well.

    * Your experience with grow cycles - you obviously knew your business well, as we know ours. We have based our numbers on international and local data. You mention three cycles per strain, but we know some strains that can get up to 8 cycles per year. We are happy to provide links to this data if you would like.

    * Your production method (Sea of Green and illegal) - we are working with experienced global service providers and medicinal cannabis growers from North America, Europe, and Australia. We will be doing some Sea of Green and also some in Tri Stack system which gets you 2.2 to 2.5 times the yield of Sea of Green. Also, legal, high tech medicinal grade fully automated climate-controlled growers are getting significantly higher yields than you may be used to, which is also referenced in various studies (including government ones) from around the world.

    * Our Christchurch facility - you assumed we would have one grow room. We have 8 grow rooms plus a mother room, seedling room, dry room, extraction room.

    * Upfront payment - as our IM states, we do not plan to start selling until February. We need funds to set up the factory so we can start production by then.

    * Our expenses - we have included all the expenses you mentioned in our financial forecasts provided in the Information Memorandum. A lot of it was pre-requisites for our licensing and SOPs.

    * Your comment around Canada - you are incorrect about the Canada supply shock. It lasted two months, it has all been taken up, and even through those months sales volumes were growing as they are now. The supply shock was due to a government legislative change.

    * Payment per litre of oil - medical-grade oils have a standard market price.

    * Our experience - please read our IM to learn more about our experience, which is in our opinion extensive.

    We're happy to jump on a call and discuss this if you would like. Please contact us on [email protected]

    Aldo and Pete

    Answered on 27-08-2020 by Medical Kiwi


    Ok, so if I buy some shares? When do you speculate the share will grow? and when can I cash out? Who will pay the share out? Thank you

    Posted on 27-08-2020 by Dirk Wouter van der Merwe

    Hi Dirk. We are expecting to become a publicly listed company in the short term, as early as next year, which will make it easy to trade your shares. Meanwhile, you can sell your shares if you find a buyer, by completing a share sale agreement.

    Answered on 28-08-2020 by Medical Kiwi


    Hi,
    According to Aldo's Linkedin profile - he's busy managing and directing 2 other companies in addition to Medical Kiwi Ltd while living in Sydney, Australia.
    Can you give me a good reason why one should invest when serving 3 masters is a house divided?
    Management while being absent and not on the ground at least in the country, does not instil a lot of confidence as an investor. Not being focussed on growing the one entity Medical Kiwi is likely to produce lacklustre returns if not more diluted than what is in the optimistic forecasted financials. Please feel free to comment and assuage my concerns. Many thanks for providing the opportunity.
    George.

    Posted on 27-08-2020 by George

    Thanks for your question, George. Aldo Miccio is an experienced professional director and has held many commercial governance roles from directorships to chairmanships as well as his six years in local government (the last 3 as mayor of Nelson city).

    He currently serves on one other board, as a director of New Zealand Coastal Seafoods, a Christchurch company listed on the Australian stock exchange. It is a marine biotech company operating in the nutraceutical and pharmaceutical industries. This is similar to Medical Kiwi which adds invaluable industry experience and networks .

    We believe his role as chairman and founder of Medical Kiwi, his past experience, and complementary role with New Zealand Coastal Seafoods add immense value to the company and shareholders current and future.

    Answered on 27-08-2020 by Medical Kiwi


    Your CBD product deal from the UK, do they have EU GMP that can be confirmed on EUDRA?
    have you submitted that product for assessment against the NZ Quality Standards?

    Posted on 28-08-2020 by Shane Le Brun

    Hi Shane. Nice to hear from you, and thanks for your interest in investing in Medical Kiwi. Our exclusive distribution agreement for the complete and full Vitality range of CBD products from health and medicine to cosmetics and sports drinks covers NZ, Australia, and the South Pacific. Vitality products will pass EU GMP from October this year and hence will comply with NZ minimum quality standards. Vitality is an exciting and very very affordable brand and were super excited about growing this brand in the Southern Hemisphere. Regards Nic

    Answered on 28-08-2020 by Medical Kiwi


    Hi there, I see that there has been no interest from wholesale investors.
    Should we be concerned that there is lack of interest from deep pocket investors?

    Posted on 28-08-2020 by Talea and Jody Uluakiola

    Hi Talea & Jody. Medical Kiwi has already prior to this crowd funding campaign raised $1.6 million dollars from wholesale investors. Wholesale investor simply means that they are an experienced investor, whereas public investors might not as experienced. It's actually completely unrelated to "how deep there pockets are". Where it stands, the company has raised funds from an even balance of wholesale versus public investors, and you will find in the coming weeks of the campaign that even more wholesale investors will come on board once the public raise is fully subscribed. We are likely to reach our maximum goal of $2 million today.

    Answered on 28-08-2020 by Medical Kiwi


    Hi team, if I missed on buying shares this time, when do you reckon I can buy them again? Or any other way to buy them? Cheers

    Posted on 28-08-2020 by Virpal

    Hi Virpal. If you meet certain criteria, you could join our wholesale campaign, otherwise we do intend to list on the stock market next year, so that will be an opportunity. I will also keep your details on file in case someone wants to sell their shares.
    A wholesale investor can be defined as people who meets any one of these 5 criterion:
    1. are an investment business, in that their principal business involves investing in financial products, acting as an underwriter, providing financial advisory services, providing broking services or trading financial products;
    2. have, during the previous two year period, owned a portfolio of, or carried out transactions to acquire financial products of a value of at least $1 million;
    3. have, in the previous two years, materially participated in the investment decisions made by an investment business;
    4. have, or any entities controlled by them, have, as at the last day of the two most recently completed financial years, net assets or total consolidated turnover exceeding $5 million;
    5. are "eligible investors", and have certified that they have previous experience in acquiring or disposing of financial products that allows them to assess:
    • the merits of the transaction;
    • their own information needs in relation to the transaction;
    • the adequacy of the information provided, that they understand the consequences of so certifying, and the grounds for this certification; or
    • an authorised financial adviser, a chartered accountant, or a lawyer signs a written confirmation of the certification.

    Answered on 28-08-2020 by Medical Kiwi


    Hey there I have just missed out on a opportunity to invest ,will there be another chance like this in near future ?

    Posted on 28-08-2020 by Kawanie

    Hi Kawanie. Crowdfunding is only permitted once every 12 months, but the wholesale offer is still open. Please email [email protected] if you'd like more details on qualifying as a wholesale investor.

    Answered on 31-08-2020 by Medical Kiwi


    How did you get an additional 3000 000 shares for the PledgeMe campaigns for when the SHARES PRECROWDFUNDING were 32,560,000 and SHARES POSTCROWDFUNDING the share amount being 35,560,000? How did the value of the company suddenly go from $32,560,000 to $35,560,000? pre and post crowdfunding? Where did the extra $3 000 000 come from?

    Posted on 30-08-2020 by Shaun

    Hi Shawn. Please refer to our Information Memorandum for a full explanation: https://drive.google.com/file/d/1kz3xmgvGxS1yoglOTnpGS4-uHJIFDWmV/view?usp=sharing.

    Answered on 31-08-2020 by Medical Kiwi


    The company was formed with 30,000,000
    shares. An additional 2,560,000 shares
    were issued in the seed funding round.
    There are now 3,000,000 shares on offer
    through our crowdfunding investor and
    wholesale investor raise which will bring the
    company to a total of 35,560,000 shares.

    How does the company get issued additional shares?

    Posted on 07-09-2020 by Shaun

    My pledge was withdrawn from my account today without forewarning. How is Medical Kiwi committed to clear and ongoing communication with its investors. This page has not had an update in several weeks.

    Posted on 29-09-2020 by Heather Penzel

    Hi Heather. Pledge Me are handling the share issue, so I hope that you have received an adequate response from them now. Medical Kiwi is committed to clear and ongoing communication with its investors, through a two-monthly newsletter (one is due to go out today), by regular updates on Facebook, Instagram, LinkedIn and Twitter, and through our share registry held with Orchestra. You can also email us directly if you have any questions: [email protected] Regards Nic

    Answered on 29-09-2020 by Medical Kiwi

    Pledgers 1037

    Monique Haines
    2020-08-28 07:50:25 +1200

    "What an awesome investment opportunity!"

    Kiri Claridge
    2020-08-28 07:49:21 +1200
    Fi Winger
    2020-08-28 07:46:50 +1200
    Irada Salam
    2020-08-28 07:45:07 +1200
    Ross
    2020-08-28 07:42:49 +1200
    KIM REECE
    2020-08-28 07:42:44 +1200
    Kellie Watene
    2020-08-28 07:37:40 +1200
    Cheryl Reid
    2020-08-28 07:37:38 +1200
    Liane Devine
    2020-08-28 07:33:56 +1200
    Jordan Park
    2020-08-28 07:17:41 +1200

    "Good luck."

    Daniel Arbidans
    2020-08-28 07:14:31 +1200
    Elliot Dillon-Herzog
    2020-08-28 07:13:31 +1200
    John Short
    2020-08-28 07:11:15 +1200
    Peter Hellings
    2020-08-28 07:10:32 +1200
    Nikki Philips
    2020-08-28 07:09:59 +1200
    Colleen Meads
    2020-08-28 06:52:30 +1200
    Johnson Morgan
    2020-08-28 06:48:32 +1200
    David Orsbourn
    2020-08-28 06:41:40 +1200
    Anna Louise
    2020-08-28 06:38:42 +1200

    "My mum suffered terminal cancer this type of pain relief was the only thing that helped her with the physical and mental pain. I hope it can do the same for others. "

    Kevin Anthony
    2020-08-28 06:34:27 +1200
    Quinn Henderson
    2020-08-28 05:47:49 +1200
    Emma Johns
    2020-08-28 03:15:58 +1200
    Robyn Reilly
    2020-08-28 00:46:05 +1200

    "Good luck"

    Jason Fox
    2020-08-27 23:40:55 +1200
    Jarrod Mclauchlan
    2020-08-27 23:02:40 +1200
    LK
    2020-08-27 22:19:30 +1200
    Heather Penzel
    2020-08-27 21:54:43 +1200
    Hamish Tijsen
    2020-08-27 21:43:39 +1200
    Michael Hudson
    2020-08-27 21:04:26 +1200
    Michael McMahon
    2020-08-27 20:59:46 +1200

    Medical Kiwi Limited

     

    Medical Kiwi has now raised $2million, the legal maximum of what we can raise per 12 month period from the New Zealand public. Please register your interest here to be kept in the loop around future equity crowdfunding rounds with Medical Kiwi. If you are a Wholesale Investor, you could still invest. Please contact us on [email protected] for more details.

     


     

    We are focused on being part of the way the world delivers its healthcare by taking an innovative, science-based approach to developing and delivering cannabinoid products for those who need them the most.

     


    From the Founder


    More and more people are realising the benefits of plant-based remedies and alternative therapies. And their experiences are supported by a growing library of medical research which continues to identify the therapeutic benefits and pharmaceutical uses of medicinal cannabis and cannabidiol (CBD) for a range of ailments and conditions.

    Like you, we’ve been watching with interest as countries around the world open up access to medicinal cannabis and CBD products. We’ve read the research, talked with start-up companies and listened to the amazing stories from those using these products about the positive impact it has had on their lives.

    The potential of the medicinal cannabis and CBD wellness industry is shown in the rapid growth and scale achieved by businesses in countries to have already legalised the cultivation, production and use of these products. And as scientists learn more the demand is increasing. Globally, the medicinal cannabis industry is forecast to be worth USD $150 billion by 2025. (Grand View Research, 2018)

    We believe that medicinal cannabis and CBD are part of a long-overdue health and wellbeing revolution that could replace so many other pharmaceuticals and benefit millions of people. We’re excited about the opportunity to bring these products to market in New Zealand.

    Medical Kiwi is in a unique position as one of a few licenced New Zealand companies poised to create value and carve out a significant share of this emerging and exciting global industry.

    We’re ready! Since 2018 we have:

    • built a strong health-based, scientific and business savvy team

    • developed a clear plan for product development, distribution, and research

    • successfully raised our initial seed fund capital

    • signed partnership agreements with global industry-leading companies, including pre-selling our entire first two years production worth $90 million to Hektares, a global player in the medicinal cannabis industry

    • secured a greenfield site for our state-of-the-art facility in Nelson, and secured a 20-year lease for our initial factory in Christchurch

    • been granted a licence to cultivate from the Ministry of Health with further licences pending

    You’ll see throughout this document we talk a lot about providing certainty - certainty about our plans, about this investment opportunity and about the regulations that will govern the industry in New Zealand. We have chosen to take a conservative approach and wait until we have a complete picture of what New Zealand’s medicinal cannabis industry could look like before taking our investment opportunity to the market. We believe the timing is now right.

    The future is exciting and you can be a part of it. We know that many Kiwis want to help Kiwis have greater access to safe, consistent, affordable, high-quality medicinal cannabis and CBD wellness products. The time to participate in the opportunity that Medical Kiwi represents is now.


    Aldo Miccio

    Co-Founder and Chairman

    New Zealand is adding its name to the growing list of countries changing legislation to enable access to high-quality, affordable medicinal cannabis and CBD products and we think that’s exciting!

    Until recently, cannabis has been a globally prohibited substance. Many people are unaware of the medicinal properties of cannabis and those who want to use it for medicinal purposes can face crippling costs and a severely restricted and unreliable supply. Scientists believe the bioactive constituents in cannabis can provide a range of physical and psychological health benefits. Medicinal cannabis products are in demand in countries that have already legalised the cultivation, production and use of full-spectrum medicinal cannabis products and CBD, and as scientists learn more about the therapeutic benefits and pharmaceutical uses, demand is increasing.

    In December 2018 New Zealand’s Government passed legislation intended to improve access to medicinal cannabis and CBD products. The Medicinal Cannabis Scheme enables domestic cultivation and manufacture of medicinal cannabis products, and enables the setting of minimum quality standards for products and all stages of production. The regulations that govern the Scheme were announced by the Ministry of Health in December 2019. From 1 April 2020 New Zealand companies can now grow cannabis for the purposes of making medicine. They are also permitted to produce and distribute that medicine.

    The products will still need to be prescribed by a doctor, and can only be bought directly from a medical practitioner or pharmacy. It’s encouraging that licences to cultivate, manufacture and supply medicinal cannabis products will be affordable which will help New Zealand businesses compete well with overseas providers.

    Alongside the legislative change, New Zealand society’s attitudes towards medicinal cannabis are also evolving. A poll commissioned by the New Zealand Drug Foundation in 2018 found that 87% of New Zealanders support medicinal cannabis for the treatment of pain and 89% support the use of medicinal cannabis as terminal pain relief.

    A major opportunity now exists for companies to leverage New Zealand’s provenance, reputation for innovation and areas of competitive advantage to cultivate, produce and sell medicinal cannabis and CBD products domestically and globally.

    And Medical Kiwi is positioning itself to manufacture and supply high-quality medicinal cannabis and CBD products for both the local and international markets once the licenses are granted.

     


    Size of the market

    250,000 New Zealand  casual cannabis users, 25,000 New Zealand  pallative care users, Globally $150 billion  by 2025

    The global industry is poised to grow by USD $22.33bn during 2020-2024 at a compound annual growth rate of over 24%. The New Zealand Ministry for Business Innovation and Employment (MBIE) forecasts the domestic medicinal cannabis market to reach $320-$500m within 10 years, and $250m worth of exports. The broader cannabis health product segment could represent a $1b market opportunity per annum in New Zealand.

    The New Zealand Ministry of Health estimates that more than 250,000 casual cannabis users use it for medicinal purposes. There are also approximately 25,000 New Zealanders that need or could benefit from the introduction of medicinal cannabis products for palliative care each year (Business Wire, 2018).

    The global cannabis market is estimated to be valued at USD $150 billion by 2025 (Grand View Research, April 2018).

     


    Our innovative plans to cultivate change 

    New Zealand’s Medicinal Cannabis Scheme has been operational since 1 April 2020 which allows for the local cultivation and manufacturing of medicinal cannabis products that will potentially help ease the pain of thousands of people.

    This sentiment is at the heart of our innovative plans to cultivate change. We have a clear philosophy to realise the local and global opportunities for high-quality, safe and consistent medicinal cannabis and CBD products to bring about real change in people’s lives and health outcomes.

    Learn more about our innovative plans to cultivate change in our Information Memorandum:

     


    Advancing the industry through research 

    We’re committed to an ongoing programme of advanced research and technology to support the development of our unique, safe, high-quality Medical Kiwi medicinal cannabis products. We plan to adopt relevant global technological advancements and work with industry leaders in research and development which will allow us to be agile in our response to market needs with the goal of setting an elevated benchmark as innovators and leaders in the industry.

    Our research schedule consists of:

    • International collaboration into the effects of the bioactive components contained in cannabis

    • Research into the effects of growing conditions, especially light, on cannabinoid and other active ingredient outcomes, in a replicable way

    • Develop, or contribute to, certification of standardisation of the beneficial bioactive properties of cannabis extracts

    • Establishing protectable intellectual property

     

     


    Cultivating consistency and certainty 

    We have an uncompromising commitment to consistency and certainty. We aim to achieve this by breeding and growing cannabis strains of the highest quality in our state-of-the-art facility with indoor production processes, and partnering with global industry-leading companies that have the same commitment.

    Our state-of-the-art indoor medicinal cannabis research, cultivation and processing facility will be based in Nelson. We have secured an eight-hectare greenfield site in Brightwater which is strategically located for operational logistics and product distribution. Plans for an 8,000-10,000 m2, two-story building have been developed. The facility will be built by a developer with Medical Kiwi leasing it at market rates. Due to Covid-19 delays, we now expect to start building this facility in the next 12-18 months.

    Meanwhile, to become operational sooner, we have secured a lease on a building in Christchurch that is already fit for purpose and can comply with the strict New Zealand and international Medicinal Cannabis licensing conditions. We will operate solely from this facility until our Nelson site is ready.

    Sustainability and environmental responsibilities were central to the development of our building plans which include extensive solar power, energy-efficient initiatives and sustainable considerations in all aspects of its ongoing operations, such as waste disposal. It is envisaged that early engineering will maximise energy efficiency so that the entire building and growing system’s electricity can be powered by a one-megawatt solar power energy system. The facility will also incorporate sophisticated security systems, world-class growing room-specific apparatus such as climate control, irrigation, lighting and extraction system.

    When in full production, estimated to be early 2024, our Nelson facility is designed to produce 30,000 - 35,000 kg of dried product per annum, with a value today of $100 - $110 million. Our Christchurch facility will be equipped to produce 6,000 - 10,000 kg of dried product, valued today at $18 - $30 million per annum.

    We believe our facilities and the products we create will have significant economic benefits for the Nelson Tasman and Christchurch regions, and for New Zealand, and we expect to employ 190 staff when in full production.

    Learn more about our facilities in our Information Memorandum:

     


    Manufacturing and distributing unique products 

    With an emerging industry, it is important that advances are aligned with customer segments and demands. Our marketing insights will inform our cultivation, manufacturing and distribution decisions. We aim to create fit-for-purpose, verified and credible medicinal cannabis and wellbeing products utilising innovative science and technology. By partnering with Empirical Labs, a world leader in formulation and enhanced delivery methods, we believe we can get proven medicinal and wellness cannabis products to both the domestic and global market quicker.

    Our exclusive distribution agreements with Vitality CBD and Liberty Herbal Technologies mean we’re well positioned to be one of the first to market with high-quality, innovative products. It also means we could establish distribution networks that we can use for our own unique Medical Kiwi produced products.

    Learn more about our facilities in our Information Memorandum:

     


    We’re a team committed to scientific, health-based success 

    We have a strong health-based, scientific and business savvy team-leading Medical Kiwi’s exciting future. Our team of professionals in medicine, biochemistry, governance, investment and sales oversee Medical Kiwi’s operations.

    We’re confident their specialist knowledge, skills and proven corporate governance put Medical Kiwi in a position to achieve our goals and begin generating revenue from early 2021.


    Aldo Miccio
    Director and Chairman

    Aldo has had an extensive international career in senior management and governance as well being a past Mayor of Nelson. His broad experience, spanning 27 years, includes executive chairmanships and directorships in industries ranging from property, retail, agriculture and FMCG to public and state services. With an entrepreneurial spirit and strong commercial background, his expertise includes strategic planning, product management and design, and sales and marketing. The opportunity to enhance community wellbeing and enable changes in people’s lives and health outcomes was a key driver for him co-founding Medical Kiwi.


    Peter Win
    Director (Operations)

    Peter has considerable breadth and depth of business experience, with a passion for pioneering new industries. He has worked in some of the most technically advanced industries, reaching senior levels of management in large-scale international energy projects and the marine engineering industry. Peter’s motivation for co-founding Medical Kiwi was a strong belief in the potential of medicinal cannabis to improve social wellbeing and provide health benefits for the wider community after experiencing how the industry had helped build better communities overseas.


    Dr David Porter
    MBChB, FRACP
    Director (Medical)

    David is a Consultant Rheumatologist with 27 years’ experience in the medical field. Porter Rheumatology, David’s practice in Nelson, provides specialist medical and nursing care to people with auto-immune and inflammatory disorders, as well as fibromyalgia patients. David is committed to finding more effective, accessible and affordable ways to manage his patients’ pain. David joined Medical Kiwi because he’s passionate about providing the highest quality medicinal cannabis products at the best possible price point.

    “I’ve been prescribing CBD for my fibromyalgia patients since it became legal 2 years ago. Conventional pharmaceuticals tend to be ineffective at treating this condition and commonly cause debilitating side effects like drowsiness or mental fogginess. In stark contrast, CBD has proven to be head and shoulders above other treatments in terms of its lack of side effects, most importantly, but also the very considerable benefits to sleep, relaxation and pain relief. It is by far the most beneficial treatment I’ve used for these patients.”


    Dr Michael Packer
    PhD (Biochemistry, Cell Biology), MSc (Marine Science), BSc (Biochemistry)
    Director (Science and Research)

    Michael is a biochemist and natural products biotechnologist with a career spanning 28 years and an extensive track record of scientific research. Algae farming methods for carbon recycling/capture, biofuel production, bio-based materials and for healthy food ingredients, bioactives, nutraceuticals and cosmetic ingredients has formed the basis of his research and professional specialty. His work involves using custom-built bespoke photobioreactors which enable algal growth under controlled conditions. He is excited to bring his knowledge and expertise to Medical Kiwi to help guide rigorous evidence-based development of natural products to benefit human health.


    Bruce Whall
    CA, B.Comm (UNSW), FAICD
    CFO

    Bruce is an experienced senior finance and business executive with wide-ranging management experience and a clear understanding of the mechanics of business. With a career spanning 40 years, Bruce has extensive competency across strategic business planning, mergers and acquisitions, finance, accounting, taxation, working capital management, treasury and operations.


    Nic Kidson
    GM Sales & Marketing

    Nic has a sales, marketing and business background that spans more than 20 years across a range of industries, including New Zealand’s niche seafood and wine industries. She brings a wealth of knowledge and diverse practical business application, as well as a passion for health, wellbeing and the environment. Nic is excited about what medical cannabis can do for people and wants to be a part of all the good that it can do for New Zealanders.


    Learn more about our team and our partners in our Information Memorandum:

     


    Share Offer 

    Medical Kiwi is seeking to raise $3 million of investment capital in support of our business strategy.

    Current shares on issue

    In order to successfully market Medical Kiwi we have used an integrated channel network of trusted partners, including online platforms, private equity funding, and now crowdfunding specialists.

    The company was formed with 30,000,000 shares. An additional 2,560,000 shares were issued in the seed funding round. There are now 3,000,000 shares on offer through our crowdfunding investor and wholesale investor raise which will bring the company to a total of 35,560,000 shares. Convertible notes have also been issued in receipt of loans, with the option of converting to shares within the next ten years. Should the option to convert be fully taken up, 3,257,700 shares would be issued.

    There are two types of shares on offer: Class B Investor shares and Class A Ordinary shares (more detail below). Class A Ordinary shares shall have the same rights attaching to them as the existing shareholders in the company including the right to vote at shareholders meetings.

    Class A Ordinary Shares shall have voting rights attaching to them enabling these shareholders to vote at shareholders meetings.

    The minimum holding for Ordinary Shares has been set at 40,000 shares. Wholesale investors must submit a completed certificate confirming the applicant’s status as a wholesale investor as defined in clause 3 of Schedule 1 of the Financial Markets Conduct Act 2013. A copy is available on request. Class A shares will be capped at no more than 50 shareholders.

    Class B Investor Shares shall carry non-voting rights at a shareholders meeting. The maximum any one investor can invest via the crowdfunding campaign is $200,000.00 (equivalent to 10% of the maximum capital raising).

     


    Financial projections

    The financial projections for Medical Kiwi have been based on research from Canada, the United States and Australia while taking into account our local legislation and environment. Some of this information is a combination of data from companies that are currently producing medicinal cannabis products as well as anecdotal information.

    Strong growth is expected as regulation takes hold, the industry becomes more established, new market segments emerge and facilities are expanded. Financials are based on a three-way cash- flow forecasting model, incorporating full profit and loss and balance sheet forecasts.

     

    Read our financial assumptions and balance sheet in our Information Memorandum: 

     

     


    Risks and Mitigation

    A flooded market with increased competition
    We believe our points of difference will set us apart from the competition. These include being one of the first companies to bring products to the market now that the Medicinal Cannabis Scheme is operational, and establish brand presence. Our operations will aim to cover the full process from cultivation to the production of rapidly evolving consumer products. We believe our seed-to-sale vertical integration approach will set us apart from other companies in New Zealand who might focus solely on cultivation or research.


    Unforeseen circumstances delay the build of the facility, research and product development
    We have consulted extensively with design experts in relation to the layout and design of our state-of-the-art facility. In the unlikely event of further delays, our planning ensures we can continue to operate out of our Christchurch factory while building work is being completed.


    Our Christchurch factory is not ready on time
    If the ontime completion of the Christchurch facility in October 2020 was delayed, it would affect the timing of the first cultivation cycle, and could affect sales revenue and license approval timing. Our team and processes will attempt to mitigate this risk.


    Our Hektares deal falling through or not being delivered in full
    We have spent significant time on this deal. We currently have an MOU and a supply agreement in place with Hektares, and once our facility is complete in Christchurch we will be formulating an order and delivery schedule from January onwards. As noted in the risk above, our timelines could be delayed. There is also a possibility that in Year 2 of our agreement we will not be able to fulfill the full order as noted in our financial assumptions, but we are evaluating different ways as our plans rollout of meeting their current demand (and that of other potential buyers).


    Failure to raise capital
    If we are unable to raise the minimum $500,000 sought, we will seek further funding from private investors.


    Working Capital/Cashflow
    Our financial forecasting shows that we have adequate working capital.


    Market price of raw materials reduces
    We will aim to produce value-adding high-grade medical cannabis products as a point of difference.


    Failure of crops
    Our crops will be grown indoors in a safe, controlled environment. We will rotate and segment our growing areas. Both of these approaches will minimise the risk of damage to crops.


    Challenges with distribution of imported and our own products
    We have successfully established distribution and uptake agreements with international companies with Memorandum of Understandings in place and additional agreements currently under discussion. Our strategy to import and distribute our partners’ products is designed to have a two-fold advantage: 1. It would create short-term and ongoing cash flow for the business. 2. It would establish distribution networks that could be utilised once Medical Kiwi production is established.

     

     

     


    A Note from PledgeMe

    We have completed a Veda check on the company and its Directors, as well as Google checks. One Director, Peter Win, had two bank defaults on his credit report from a previous relationship that he is disputing. There were no other adverse findings. The Directors have also all passed police vetting and responsible person's tests as part of the cannabis research license approval.

     

    You need to pledge to see this update.

    We’ve met our minimum goal!

    19/08/2020 at 10:30 AM

    All of us here at Medical Kiwi are really pleased to have met our minimum goal in such a short amount of time. We believe it shows there is a real passion for the industry in the community and that people understand what a huge positive change affordable medicinal cannabis is going to make in peoples’ lives . We're really looking forward to starting our cultivation programme in the coming months with the aim of having our first orders sold and delivered in February 2021.

     

    We’re still going to reach our maximum goal of $2,00,000 through the public, and $1,000,000 through wholesale investors. If we hit our maximum goal we can do more research and development, set up our dosage product production lines, and aim to grow faster.

     

    If you haven’t already pledged, please consider doing so. If you have - please share our campaign with your crowd.

     

    Here’s the link again: https://pledgeme.co.nz/investments/412

     

    Kind regards,

     

    Aldo and Pete

     

    Crowdfunding commences tomorrow

    16/08/2020 at 11:35 AM

    We will be launching our equity crowdfunding campaign at 8am on Monday privately to you, our registered investors. Here’s the link for you to make your pledge from 8am tomorrow: https://pledgeme.co.nz/investments/412. We will then launch publicly at noon. 

     

    You can read our full Information Memorandum (IM) now here. If you have any questions about the IM, please email us: [email protected]

     

    If you wanted to ask your questions live, we’re also hosting a Facebook Live tonight (Sunday) at 8pm. Here is the link: https://www.facebook.com/MedicalKiwiNZ/live/. If you like our Facebook page, you should be notified when we go live as well.

     

    To make sure you’re ready to invest on tomorrow morning, please register as an investor on PledgeMe now. Here’s the link to register as an investor, or if you need instructions here they are. If you have any questions, contact the team at PledgeMe ([email protected]). 

     

    Thanks for your interest in Medical Kiwi, and we look forward to welcoming you as shareholders. 

     

    Aldo and Peter

     
     

    Find out more

    1.  Information on what it means to be be an investor: https://guide.pledgeme.co.nz/what-does-it-mean-to-invest.

    2. Register for free as a Medical Kiwi VIP at our Nelson event on Wednesday 26th August: https://www.commerce.org.nz/event/findex-ba5-medical-kiwi

    3. Follow Medical Kiwi on Facebook.
      
     
     

      Offer Details

      Current Valuation 32,560,000
      Raise Minimum 500,000
      Raise Maximum 2,000,000
      Share Price 1.00
      Maximum Shares Offered 2,000,000
      Explanation of valuation:

      Our offer reflects a valuation undertaken by financial advisors and has been based on international market research from Canada, Australia and the United States of America.

      This includes anecdotal information as well as data from companies currently producing medicinal cannabis products. It is important to acknowledge that, as this is a new and emerging industry both globally and in New Zealand, it is difficult to perform a comparative analysis.

      We have valued Medical Kiwi and the company shares at a pre-raise valuation of $32,560,000.

      The valuation we believe is conservative, with Medical Kiwi adopting lower profitability and revenue formulas than what is generally accepted in the industry. We have discounted valuation multipliers of net profit after tax to a factor of approximately 2.75 based on NPAT of $11,880,022 by the end of 2021, to give us our valuation of $32,560,000. This is of course backed against sales agreements in place and assumptions as outlined in earlier sections.

      The valuation we have undertaken can be compared to other similar companies in the industry. The table in our Information Memorandum reflects three cannabis companies with a presence in New Zealand and Australia, and how their respective actual retained earnings (losses) compare with market capitalisation on their respective stock exchanges.

      Financial Summary

      Prev Year Current Year Est. FY 2022 Est. FY 2023
      Revenue NZ $0 NZ $0 NZ $23,582,667 NZ $36,486,833
      Operating Expenses NZ $575,247 NZ $484,573 NZ $4,710,601 NZ $6,774,931
      EBITDA -NZ $575,247 -NZ $484,573 NZ $16,338,816 NZ $24,631,502
      Net Profit -NZ $575,774 -NZ $584,922 NZ $11,880,022 NZ $17,537,783

      Company Details

      Company Name: Medical Kiwi Limited

      Company Number: 7135337

      Company details are currently being synced with the Companies Office, please wait.

      Company Documents

      Documents no longer available to download, as this campaign has closed

      Director Details

      Name Role Profile URL Invested?
      Aldo Miccio Director and Chairman https://au.linkedin.com/in/aldomiccio
      Peter Win Director (Operations) https://nz.linkedin.com/in/peter-win
      Dr. David Porter Director (Medical) https://nz.linkedin.com/in/david-porter-nz
      Dr. Michael Packer Director (Science and Research) https://nz.linkedin.com/in/mike-packer

      Ask a Question (You must login to ask a question)


      "signed partnership agreements with global industry-leading companies, including preselling our entire first two years production
      worth $90 million to Hektares, a global player in the medicinal cannabis industry"

      For an industry leading company, Hektares has almost no online presence bar a facebook page, a LinkedIn page to their CEO, and a wordpress website for the company.

      Has pledge me undertaken any due dillagence on Hektares financials regarding their ability to pay for $90M over two years?

      https://hektares.wordpress.com/?fbclid=IwAR1T_MMnGQFtt1ZA_7GQEwBwW_KOCVtywhpH00aH3lJR8aCw-yqTEuXMiA4%2F

      https://www.facebook.com/Hektares-109594490698199/about/?ref=page_internal&path=%2FHektares-109594490698199%2Fabout%2F

      Futhermore, for a company able to undertake wholesale purchase and redistribution of $45M/year. Their presence on LinkedIn is very sketchy.
      https://www.linkedin.com/search/results/all/?keywords=hektares&origin=GLOBAL_SEARCH_HEADER

      Posted on 18-08-2020 by John sia

      Thanks for your question, John.

      Hektares are a private Singaporean domiciled investment holding company with ownership interests in a number of cannabis companies globally and that could explain why they do not have an extensive public face. Our contract is with Hektares the parent company, but is underpinned by orders that they procure directly and indirectly from their other entities. We have in place an MOU as well as a sales agreement for the 2 year period, and we are currently working out a delivery schedule that we hope to meet from February next year. We also have arrangements with other partners and clients globally including Vitality and Empirical Labs  as well as other companies which we have concluded sales agreements with and or are in negotiations with. 

      PledgeMe have viewed our Letter of Intent with Hektares, but it is up to each investor to ask questions and complete their own due diligence. 

      Kind regards
      Medical Kiwi

      Answered on 18-08-2020 by Medical Kiwi


      What is the difference between a and b class shares?

      Posted on 19-08-2020 by Karl Sutton

      Hi Karl,

      Thanks for your question!

      A Ordinary Shares have voting rights and are issued to anyone who pledges over $40,000. B Investor Shares have non-voting rights. You can read more about the types of shares in our Information Memorandum.

      Kind regards,
      Medical Kiwi

      Answered on 19-08-2020 by Medical Kiwi


      Hi, I’m a grower myself and was wondering if there is a problem by being a shareholder and working on the same industry. Regards. Macarena

      Posted on 19-08-2020 by Macarena

      Thanks for your question, Macarena.

      There are potentially no legal complications or issues investing, but it could depend on your conflicts of interest policy. If you have an employer, I would suggest you speak with them about this. The team at PledgeMe have seen competitors invest in each other's businesses through the platform in the past.

      Kind regards,
      Medical Kiwi

      Answered on 19-08-2020 by Medical Kiwi


      Is your purchase agreement binding ? I ask this question due to the fact PURO NZ claimed they had purchase agreements and when they came to sell, their agreements were non binding. Clearly only like a MOU Memorandum of Understanding. Are your agreements binding ?

      PURO NZ has misled their investors by all accounts they knew the agreements they had were not binding.

      Posted on 19-08-2020 by Willard Wonka

      Thanks for your question, Greg.

      There's always a risk that a client will not be able to perform their contractual obligations whether it's a binding or nonbinding MOU, contract or agreement of any nature. Our team is confident that Hektares have the ability and resources as well as intent to fulfill their contractual obligations of ordering 12 tonnes of product in year one and 24 tonnes of product year two. More the issue is that Medical Kiwi may not be able to satisfy the demand from Hektares, as reflected in the risk section of our IM. Our IM financials reflect what we believe we can satisfy while also diversifying with other clients to try and mitigate any risk from a single client.

      Answered on 20-08-2020 by Medical Kiwi


      Is there a set amount to pledge?

      Posted on 19-08-2020 by Bev

      Thanks for the question, Bev. The minimum pledge amount is $500 for 500 shares. You can pledge anywhere up to $200,000.

      Answered on 19-08-2020 by Medical Kiwi


      QUOTE "One cannabis industry player who didn’t wish to be named said the financial projections were “quite literally impossible” unless the company had a large-scale, GMP-certified, fully integrated facility running today and about $50m of capital."
      what is the Capex on the new fit-out of the new building and please comment on the above quote.

      Posted on 20-08-2020 by John Smith

      Hi John

      Our financial projections are based on revenues underpinned by contract orders from two clients as well as a number of MOUs with various other potential clients as highlighted in our Information Memorandum. Our Christchurch facility will not be able to satisfy that demand, hence our first-year sales projections from the Christchurch facility are NZD$23 million. We have conservatively based this on NZD$4000 per kg of dry flower, producing 5750kg of dry flower per annum. Medical grade global wholesale prices are on average about NZD$7000 per kg of dry flower.

      World wide data from indoor cannabis grow facilities and government studies undertaken in various countries, such as PWC in Australia, all confirm an average yield of 700grams per plant. This a conservative yield for the various species that we will be using.

      Our grow space on a tri-stack system can accommodate as many as 4000 plants and using a sea of green system about 1200 plants. The strains we will be using we can achieve between 3 to 5 cycles per year.

      This combination can comfortably give us our total estimate quantity of 5750kg of dried flower per annum.

      We are currently retro fitting an existing building in Christchurch with a 20-year lease (10 years plus 10 years). Our fit-out cost of this building is NZD$700,000 dollars, and we are expected to complete it at the end of September. We are funding this from pre-existing funds, and not crowdfunding capital. Three of our Directors have previous experience in setting up a nutraceutical GMP facility, so they understand how to do this correctly.

      The plant and equipment costs for labs, mother rooms, grow rooms, air circulation, heating, climate control, hydroponics, etc, is a total of NZD$800,000. Total costs are therefore NZD$1.5 million, a very distant figure from the unnamed and unqualified source who believes it would cost $50 million. Possibly this person was assuming we would be building a new facility not leasing a pre-existing facility. Possibly they were also basing their estimate on our end use Nelson facility which we aim to produce 30,000 to 35,000 kg of dry flower by end 2023. Even then, the cost in today’s climate is more like NZD$25 million, not NZD$50 million.

      Answered on 20-08-2020 by Medical Kiwi


      Will the announcement from Canada and Germany not allowing any import of Cannabis or Biomass now impact on your operation ?

      Which of the Directors in Medical Kiwi have previous experience in setting up a nutraceutical GMP facilitys here in NZ please ?

      What were those company names also ?

      Posted on 20-08-2020 by Willard Wonka

      Medical Kiwi’s primary exports will be extractions and eventually dosage products, so any restrictions on biomass is not relevant for us. In fact, Germany is about to pass new legislation opening up further their limits on non-German manufactured extractions (due to the limited supply and high demand), which is great for us. Their one pre-condition is that it is GMP certified which is what we will be supplying. Dr Mike Packer is from the Cawthron Institute and our Chairman, Aldo Miccio, is a founder and Director of ASX listed New Zealand Coastal Seafoods, which is a marine biotech company supplying nutraceutical ingredients to the global pharma industry. Peter Win is a founder and BD Manager of New Zealand Coastal Seafoods.

      Answered on 20-08-2020 by Medical Kiwi


      Will we be able to add our shares in Medical Kiwi to an online portfolio such as Sharsies once Medical Kiwi is up and running?

      Posted on 20-08-2020 by Hunter Higginson

      Hi Hunter
      Sharsies don't trade unlisted companies (yet), but there are some other platforms that do, and we're working through selecting one at the moment.

      Answered on 21-08-2020 by Medical Kiwi


      ive already invested 500 can i invest again and increase my shares

      Posted on 21-08-2020 by nigel lloyd

      Hi Nigel
      Yes, you can just pledge again, or if you want to add less than $500 you can email PledgeMe ([email protected]) to request a change.

      Answered on 21-08-2020 by Medical Kiwi


      Hi- I note that there are 3 or 4 licenses that you are still waiting approval for. What are the chances that these licenses aren't granted? Cheers

      Posted on 21-08-2020 by Mark Hamilton

      Hi Mark. As we have already have a record of license approval, and have the same professionals handling this application, we see no reason why they wouldn't be granted.

      Answered on 21-08-2020 by Medical Kiwi


      Hi, where do I find the bank details for my deposit?

      Posted on 21-08-2020 by Gee Fin

      Hi Gee. Once you make a pledge you will be taken through a process that will include adding your bank account details.

      Answered on 24-08-2020 by Medical Kiwi


      Will Medical Kiwi conduct animal tests?

      Posted on 21-08-2020 by Annelies Basten

      Hi Annelies. No, Medical Kiwi will not be conducting animal tests.

      Answered on 24-08-2020 by Medical Kiwi


      Hi. What happens if the maximum target is not reached? Will confirmation of the pledges still go ahead and if not will the pledge money be returned. Thanks for the info.Marcus.

      Posted on 22-08-2020 by Marcus Broughton

      Hi Marcus. It is only the minimum target that needs to be reached, and it already has been reached. No money is taken until after the offer closes. The offer will close on 17 September, unless it is fully subscribed earlier.

      Answered on 24-08-2020 by Medical Kiwi


      Hi, 2 questions: how do unlisted shares get traded? Secondly, i see the number of shares x $1 = market valuation, if the 3m on offer doesn't all get fullfilled (say only 1.5m get purchased) does the share price increase or the shares exist but aren't purchased?

      Posted on 22-08-2020 by chris

      Hi Chris. We are working on confirming a way to easily trade your Medical Kiwi shares. For now, a shareholder can sell them to a willing buyer at a price agreed by both people by completing a share transfer agreement and sending it to us. There is no pre-determined share price. If you want to discuss this further, please give me a call on: 0274 502 888. Thanks Nic.

      Answered on 24-08-2020 by Medical Kiwi


      Is Medical Kiwi's success dependent on the result of the "Reeferendum" vote in October? If the referendum doesn't pass, will that mean that Medical Kiwi's plans couldn't proceed?

      Posted on 22-08-2020 by Ally

      Hi Ally. The referendum is for recreational cannabis, which is not related to our medicinal cannabis company. The Medicinal Cannabis scheme came into effect on 1 April. Since then any GP can prescribe medicinal cannabis.

      Answered on 24-08-2020 by Medical Kiwi


      Can work visa holders invest?

      Posted on 22-08-2020 by Jaineet

      Hi Jaineet. We have been advised that work visa holders can invest too.

      Answered on 24-08-2020 by Medical Kiwi


      Hi there
      Very interesting what you’re are doing. I just have a couple of questions.

      You have mentioned throughout the MOU that this is a global industry, yet you are comparing Medical Kiwi to New Zealand companies in this space. Why is that? Does growing in New Zealand create a competitive advantage within the global industry in some way? Possibly bilateral cannabis trade agreements between New Zealand and countries with a market, limiting imports from other countries?

      In addition to this I would like to know about your Seed to Sale vertical integration approach.
      “seed-to-sale vertical integration approach will set us apart from other companies in New Zealand who might focus solely on cultivation or research.”
      There are well known listed companies in the cannabis space that cultivate, research, extract and sell, yet still have never made a profit. You are competing in a highly competitive space with some specialised extractors capacity as high as 150 000 kgs of dry flower a year. Their economies of scale are vast and I would imagine the same goes for specialised growers and researchers.

      Taking into account what you have said about the company operating in the global industry, what is the competitive advantage in the seed to sale approach? Why not specialise?

      Thank you in advance.
      Josh

      Posted on 25-08-2020 by Joshua Stubbs

      Hi Josh. New Zealand products, especially nutraceuticals, hold a unique brand positioning globally. We are targeting medical grade cannabis which we are able to export to global markets. Although there are companies globally and within NZ looking at seed to sale, there are relatively few that are medical grade GMP certified. At full production we expect to produce 35,000 kg per year, so it is not a boutique operation. Seed to sale also gives us the opportunity to tell our full provenance story, as well as being flexible as the industry develops it cultivation and manufacturing capabilities. Happy to answer any further questions.

      Answered on 25-08-2020 by Medical Kiwi


      If the referendum passes, is there any likelihood that Medical Kiwi makes a foray into the recreational space?
      If so, in what capacity, and if not, what are the reasons?

      Posted on 25-08-2020 by Taylor Rooney

      Hi Taylor. We are focused on medicinal cannabis only, and our business model is built on that. The recreational space, should it go ahead, is an entirely different proposition, and is uncertain at this stage.

      Answered on 25-08-2020 by Medical Kiwi


      Hi There, Will you be growing indoors or outdoors, and what type of extraction will you be using in your products? What is the product type that the forward contracts are requiring?

      Posted on 26-08-2020 by Reid Stewart

      Hi Reid, we will be growing indoors. Indoor growing is required for us to meet our clients' minimum requirements and standards for quality products for medicinal purposes. These products will be dry flower as well as oil extractions primarily used in tinctures.

      Answered on 26-08-2020 by Medical Kiwi


      Is there any chance you could provide some fundamentals on the financial summary i.e. EPS, BPS, price-to-book etc.? Just wanting to get an idea of how $1 a share weighs up against the company valuation

      Posted on 26-08-2020 by Den Barrett

      Thanks for the question, Den! Our valuation and methodology is outlined on page 28 in our Information Memorandum. Let us know if you have any other questions.

      Answered on 27-08-2020 by Medical Kiwi


      Hi Guys.

      I’ve just read your growing statistic. I’m rolling on the floor laughing my head off. 🤣🤣
      Honestly I’ve never heard crap like this.
      I had been growing commercial quantities of weed for a long time in a very sophisticated set up. Eventually was caught with 3000 plants , got severely told off by a high court judge and had a holiday at Spring Hill correctional institute.

      Every crop in the world is priced on a tonnage per hectare, there is no other way, period. So start talking kilos per square meter. Then I might take you half seriously .
      We were cloning off mother plants ( which reduces the potency) so for super high quality you need to grow off seeds.
      Here’s how it works , 21 days (3 weeks)to get clones rooted , minimum 28 days (4 weeks) vegetative cycle (18 hour lights on , 6 hours lights off,
      Flowering or budding cycle (lights 12 hours on 12 hours off). 56 days (8 weeks )
      Each plant produces on average half an ounce of dried flower / buds.

      Start to finish is minimum 15 weeks So straight away you are down to 3 cycles per year. One bug gets in there and you loose a cycle. The best you can get consistently is about 1/2 pound per 600 watt light or per square meter.

      Sea of Green was what we used to do. Put more plants in the same area but they will only ever produce what the light system will allow, so it makes no difference.
      If it did we would plant more trees or grapes or potatoes to increase our yield. It dosnt work that way.

      2.2 pounds per kilo. .5 pound equals .22 kilo

      So in order to produce 1800 kilos ( 3968 pounds) per cycle you will need some serious operation.
      So 1 pound per 2 square meters. (You won’t beat that consistently ) You will need a grow room equating to 8000 square meters.
      When you take in your walkways and set out you will need close to 14000 square meters of grow room .

      All these statistics are available on the USA DEA ( drug enforcement agency) You can check if you want.

      After you take your executive offices and research centre out you are not left with much more than 2000 Sqm for your grow rooms.

      Only a mad man would put the whole lot in one area. Disease gets in there and you loose everything. It happened to us many times.

      At a business level a 30 million dollar order is a serious order, If I was an investor I would most definitely want to see a deposit in the order of 30 percent or 10 million up front,
      Now you have to ask yourself if you got a 10 million dollar payment into you accounts why would you need to crowd fund this project.

      No mention of expenses,
      Ask about the power bill for lights , air con ,
      Maybe ask about the bill for security. I’m sure there’s a lot of people out there planning raids. If they ram raid dairies for cigarettes what will they do when they know there’s 3000 fully budded up plants in that compound.

      Directors fees are gonna be high. Doctors don’t work for minimum wage.

      I’ve seen some scams over the years but this cannabis thing is getting out of hand.
      Canada already has 2 years supply of premium quality buds they can’t sell.
      Why wouldn’t this company just put an order in with them.

      You have never even extracted the oils, Maybe take a trip to Morocco and the Riff mountains, where they produce hash for most of Europe. You might learn something there. I have been there and it’s amazing if you are a weed smoker.

      Leads me to ask how much they are paying per liter of extract because thats the end product . How much oil per kilo?. Pretty easy equation to work out.

      Your management team look a bit suspect as well
      Whats the total growing experience, Some basil in the back yard planter boxes, from there you are naturally stepping up to grow 5000 kilos of high quality weed. Sounds like a natural progression , Basil for pesto and flat breads , straight to 30 million dollars of weed. What’s wrong with this picture.
      What do you need a Doctor in the equation for if you are selling to another company for processing .

      Good luck if you are investing because you are gonna need miracles for this baby to work.
      Ps I stand by everything I said . As a commercial cannabis grower (albeit illegal at the time )and businessman for a long time I see some serious faults in your proposals.
      I have no problems discussing them with any interested parties. Maybe we could do it on your live Facebook feed.

      Kindest regards
      Nick

      Posted on 26-08-2020 by Nick

      Thanks for your question, Nick. Things are definitely different for those that grow legally and with technology.

      There are a few incorrect assumptions in your comment that do not match the information we have provided in this campaign or global experiences. We've outlined these below in response to your comments and questions.

      * All crops are priced on tonnage per hectare - we will track many things, including tonnage per hectare. We have seen other established operations talk about kilograms (or pounds) per plant as well.

      * Your experience with grow cycles - you obviously knew your business well, as we know ours. We have based our numbers on international and local data. You mention three cycles per strain, but we know some strains that can get up to 8 cycles per year. We are happy to provide links to this data if you would like.

      * Your production method (Sea of Green and illegal) - we are working with experienced global service providers and medicinal cannabis growers from North America, Europe, and Australia. We will be doing some Sea of Green and also some in Tri Stack system which gets you 2.2 to 2.5 times the yield of Sea of Green. Also, legal, high tech medicinal grade fully automated climate-controlled growers are getting significantly higher yields than you may be used to, which is also referenced in various studies (including government ones) from around the world.

      * Our Christchurch facility - you assumed we would have one grow room. We have 8 grow rooms plus a mother room, seedling room, dry room, extraction room.

      * Upfront payment - as our IM states, we do not plan to start selling until February. We need funds to set up the factory so we can start production by then.

      * Our expenses - we have included all the expenses you mentioned in our financial forecasts provided in the Information Memorandum. A lot of it was pre-requisites for our licensing and SOPs.

      * Your comment around Canada - you are incorrect about the Canada supply shock. It lasted two months, it has all been taken up, and even through those months sales volumes were growing as they are now. The supply shock was due to a government legislative change.

      * Payment per litre of oil - medical-grade oils have a standard market price.

      * Our experience - please read our IM to learn more about our experience, which is in our opinion extensive.

      We're happy to jump on a call and discuss this if you would like. Please contact us on [email protected]

      Aldo and Pete

      Answered on 27-08-2020 by Medical Kiwi


      Ok, so if I buy some shares? When do you speculate the share will grow? and when can I cash out? Who will pay the share out? Thank you

      Posted on 27-08-2020 by Dirk Wouter van der Merwe

      Hi Dirk. We are expecting to become a publicly listed company in the short term, as early as next year, which will make it easy to trade your shares. Meanwhile, you can sell your shares if you find a buyer, by completing a share sale agreement.

      Answered on 28-08-2020 by Medical Kiwi


      Hi,
      According to Aldo's Linkedin profile - he's busy managing and directing 2 other companies in addition to Medical Kiwi Ltd while living in Sydney, Australia.
      Can you give me a good reason why one should invest when serving 3 masters is a house divided?
      Management while being absent and not on the ground at least in the country, does not instil a lot of confidence as an investor. Not being focussed on growing the one entity Medical Kiwi is likely to produce lacklustre returns if not more diluted than what is in the optimistic forecasted financials. Please feel free to comment and assuage my concerns. Many thanks for providing the opportunity.
      George.

      Posted on 27-08-2020 by George

      Thanks for your question, George. Aldo Miccio is an experienced professional director and has held many commercial governance roles from directorships to chairmanships as well as his six years in local government (the last 3 as mayor of Nelson city).

      He currently serves on one other board, as a director of New Zealand Coastal Seafoods, a Christchurch company listed on the Australian stock exchange. It is a marine biotech company operating in the nutraceutical and pharmaceutical industries. This is similar to Medical Kiwi which adds invaluable industry experience and networks .

      We believe his role as chairman and founder of Medical Kiwi, his past experience, and complementary role with New Zealand Coastal Seafoods add immense value to the company and shareholders current and future.

      Answered on 27-08-2020 by Medical Kiwi


      Your CBD product deal from the UK, do they have EU GMP that can be confirmed on EUDRA?
      have you submitted that product for assessment against the NZ Quality Standards?

      Posted on 28-08-2020 by Shane Le Brun

      Hi Shane. Nice to hear from you, and thanks for your interest in investing in Medical Kiwi. Our exclusive distribution agreement for the complete and full Vitality range of CBD products from health and medicine to cosmetics and sports drinks covers NZ, Australia, and the South Pacific. Vitality products will pass EU GMP from October this year and hence will comply with NZ minimum quality standards. Vitality is an exciting and very very affordable brand and were super excited about growing this brand in the Southern Hemisphere. Regards Nic

      Answered on 28-08-2020 by Medical Kiwi


      Hi there, I see that there has been no interest from wholesale investors.
      Should we be concerned that there is lack of interest from deep pocket investors?

      Posted on 28-08-2020 by Talea and Jody Uluakiola

      Hi Talea & Jody. Medical Kiwi has already prior to this crowd funding campaign raised $1.6 million dollars from wholesale investors. Wholesale investor simply means that they are an experienced investor, whereas public investors might not as experienced. It's actually completely unrelated to "how deep there pockets are". Where it stands, the company has raised funds from an even balance of wholesale versus public investors, and you will find in the coming weeks of the campaign that even more wholesale investors will come on board once the public raise is fully subscribed. We are likely to reach our maximum goal of $2 million today.

      Answered on 28-08-2020 by Medical Kiwi


      Hi team, if I missed on buying shares this time, when do you reckon I can buy them again? Or any other way to buy them? Cheers

      Posted on 28-08-2020 by Virpal

      Hi Virpal. If you meet certain criteria, you could join our wholesale campaign, otherwise we do intend to list on the stock market next year, so that will be an opportunity. I will also keep your details on file in case someone wants to sell their shares.
      A wholesale investor can be defined as people who meets any one of these 5 criterion:
      1. are an investment business, in that their principal business involves investing in financial products, acting as an underwriter, providing financial advisory services, providing broking services or trading financial products;
      2. have, during the previous two year period, owned a portfolio of, or carried out transactions to acquire financial products of a value of at least $1 million;
      3. have, in the previous two years, materially participated in the investment decisions made by an investment business;
      4. have, or any entities controlled by them, have, as at the last day of the two most recently completed financial years, net assets or total consolidated turnover exceeding $5 million;
      5. are "eligible investors", and have certified that they have previous experience in acquiring or disposing of financial products that allows them to assess:
      • the merits of the transaction;
      • their own information needs in relation to the transaction;
      • the adequacy of the information provided, that they understand the consequences of so certifying, and the grounds for this certification; or
      • an authorised financial adviser, a chartered accountant, or a lawyer signs a written confirmation of the certification.

      Answered on 28-08-2020 by Medical Kiwi


      Hey there I have just missed out on a opportunity to invest ,will there be another chance like this in near future ?

      Posted on 28-08-2020 by Kawanie

      Hi Kawanie. Crowdfunding is only permitted once every 12 months, but the wholesale offer is still open. Please email [email protected] if you'd like more details on qualifying as a wholesale investor.

      Answered on 31-08-2020 by Medical Kiwi


      How did you get an additional 3000 000 shares for the PledgeMe campaigns for when the SHARES PRECROWDFUNDING were 32,560,000 and SHARES POSTCROWDFUNDING the share amount being 35,560,000? How did the value of the company suddenly go from $32,560,000 to $35,560,000? pre and post crowdfunding? Where did the extra $3 000 000 come from?

      Posted on 30-08-2020 by Shaun

      Hi Shawn. Please refer to our Information Memorandum for a full explanation: https://drive.google.com/file/d/1kz3xmgvGxS1yoglOTnpGS4-uHJIFDWmV/view?usp=sharing.

      Answered on 31-08-2020 by Medical Kiwi


      The company was formed with 30,000,000
      shares. An additional 2,560,000 shares
      were issued in the seed funding round.
      There are now 3,000,000 shares on offer
      through our crowdfunding investor and
      wholesale investor raise which will bring the
      company to a total of 35,560,000 shares.

      How does the company get issued additional shares?

      Posted on 07-09-2020 by Shaun

      My pledge was withdrawn from my account today without forewarning. How is Medical Kiwi committed to clear and ongoing communication with its investors. This page has not had an update in several weeks.

      Posted on 29-09-2020 by Heather Penzel

      Hi Heather. Pledge Me are handling the share issue, so I hope that you have received an adequate response from them now. Medical Kiwi is committed to clear and ongoing communication with its investors, through a two-monthly newsletter (one is due to go out today), by regular updates on Facebook, Instagram, LinkedIn and Twitter, and through our share registry held with Orchestra. You can also email us directly if you have any questions: [email protected] Regards Nic

      Answered on 29-09-2020 by Medical Kiwi

      Monique Haines
      2020-08-28 07:50:25 +1200

      "What an awesome investment opportunity!"

      Kiri Claridge
      2020-08-28 07:49:21 +1200
      Fi Winger
      2020-08-28 07:46:50 +1200
      Irada Salam
      2020-08-28 07:45:07 +1200
      Ross
      2020-08-28 07:42:49 +1200
      KIM REECE
      2020-08-28 07:42:44 +1200
      Kellie Watene
      2020-08-28 07:37:40 +1200
      Cheryl Reid
      2020-08-28 07:37:38 +1200
      Liane Devine
      2020-08-28 07:33:56 +1200
      Jordan Park
      2020-08-28 07:17:41 +1200

      "Good luck."

      Daniel Arbidans
      2020-08-28 07:14:31 +1200
      Elliot Dillon-Herzog
      2020-08-28 07:13:31 +1200
      John Short
      2020-08-28 07:11:15 +1200
      Peter Hellings
      2020-08-28 07:10:32 +1200
      Nikki Philips
      2020-08-28 07:09:59 +1200
      Colleen Meads
      2020-08-28 06:52:30 +1200
      Johnson Morgan
      2020-08-28 06:48:32 +1200
      David Orsbourn
      2020-08-28 06:41:40 +1200
      Anna Louise
      2020-08-28 06:38:42 +1200

      "My mum suffered terminal cancer this type of pain relief was the only thing that helped her with the physical and mental pain. I hope it can do the same for others. "

      Kevin Anthony
      2020-08-28 06:34:27 +1200
      Quinn Henderson
      2020-08-28 05:47:49 +1200
      Emma Johns
      2020-08-28 03:15:58 +1200
      Robyn Reilly
      2020-08-28 00:46:05 +1200

      "Good luck"

      Jason Fox
      2020-08-27 23:40:55 +1200
      Jarrod Mclauchlan
      2020-08-27 23:02:40 +1200
      LK
      2020-08-27 22:19:30 +1200
      Heather Penzel
      2020-08-27 21:54:43 +1200
      Hamish Tijsen
      2020-08-27 21:43:39 +1200
      Michael Hudson
      2020-08-27 21:04:26 +1200
      Michael McMahon
      2020-08-27 20:59:46 +1200
      This campaign was successful and got its funding on 28/08/2020 at 1:45 PM.

      This campaign has closed, but this company may choose to do more equity raises on PledgeMe in the future. If you're interested in investing in Medical Kiwi Limited, you can sign up to be notified when a new equity campaign from this company is published.

      Notify Me

      Investor Perks

      SPROUTING INVESTOR

      NZ $500.00+

      B Class Investor Shares. Invite to our Annual General Meeting, hosted by our Directors and wider team, with refreshments provided. Option to have your name displayed at our facility.

      BUDDING INVESTOR

      NZ $2,500.00+

      B Class Investor Shares. Invite to our Annual General Meeting, hosted by our Directors and wider team, with refreshments provided. Option to have your name displayed at our facility. A private tour of our facility.

      FLOWERING INVESTOR

      NZ $40,000.00+

      A Class Ordinary Shares.Invite to our Annual General Meeting, hosted by our Directors and wider team, with refreshments provided. Option to have your name displayed at our facility. A private tour of our facility. Voting rights.

      Warning statement about equity crowdfunding

      Equity crowdfunding is risky.

      Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks.

      You may lose your entire investment, and must be in a position to bear this risk without undue hardship.

      New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision.

      The usual rules do not apply to offers by issuers using this facility. As a result, you may not be given all the information usually required. You will also have fewer other legal protections for this investment.

      Ask questions, read all information given carefully, and seek independent financial advice before committing yourself.