Phytotecnia Limited

By Phytotecnia Limited

PledgeMe.Investment

Technology,



NZ $463,300 pledged


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About

Phytotecnia Limited

If you believe in the potential of medicinal cannabis and value a down to earth business approach based in science and expertise, Phytotecnia might be of interest.

With our own resources and thanks to the huge support of family and friends, our project is well underway and has met all the milestones on time and budget. We are now about to start the first commercial production cycle and we would like to maximise our production capacity.


Letter from the founders

Medicinal cannabis came to us naturally three years ago looking for our expertise. Initially sceptical about the potential of cannabis as a medicine, we soon became completely convinced about its possibilities. At the same time we realised the enormous challenges that a business in this industry would face: lack of scientific knowledge in basic areas of cultivation and manufacturing; emerging markets with evolving demands; and fast developing and diverse regulatory frameworks. In this context, we believe that the only possible approach to succeed in the industry is a learner’s approach: understand and acknowledge the complexity of the medicinal cannabis industry and develop a business model based on expertise, hard work, and patience.

Our approach avoids speculation and misleading information and acknowledges the legacy of those that have been working with cannabis, frequently underground, for many years.

With our own resources and thanks to the huge support of family and friends, our project is well underway and has met all the milestones on time and budget. We are now about to start the first commercial production cycle and we would like to maximise our production capacity.

If you have the patience and interest to read our Information Memorandum, you’ll see that this is not just another medicinal cannabis company. We have a different approach that might not be extremely attractive for conventional investors looking for rapid profits based on purely speculative forecasts. We are convinced that our approach based on science and facts, on expertise, hard work and patience, is not incompatible with high profitability, on the contrary, we believe it is the only way to succeed in the long term.

We humbly believe that Phytotecnia will be really profitable for many people in many ways. Hopefully you will reach the same conclusion after reading this information memorandum and want to join us.


Our Team

Phytotecnia was founded by us, Irene López-Ubiria and Álvaro Vidiella-Salaberry, in 2019. We are agricultural engineers with a doctorate and a masters degree in horticulture, and more than 20 years of experience in applied research and production. Originally from Spain, our nine years in NZ have seen us working as part of the leadership teams of NZ Avocado, Riversun Nursery, and Hikurangi Cannabis Company (now RUA Bioscience). In our roles, we have successfully managed multidisciplinary teams of experts to achieve the goals of each company. We are used to working in highly competitive commercial environments with complex production systems and evolving market demands.


What have we done so far?

Phytotecnia obtained a licence to cultivate cannabis for research purposes in February 2020. We will start commercial production as soon as we are granted the corresponding licence which is just pending a location inspection in the coming weeks.

We have built a dual-purpose research and production glasshouse and two indoor growing chambers, designed to produce conservatively 30 kg of medicinal cannabis dried flower monthly all year round.

phytotechnica_premises_and_progress
Pictured: Phytotecnia founders Irene López-Ubiria and Álvaro Vidiella-Salaberry

The research programme is underway. We have established strategic relationships with research entities in New Zealand and internationally in the areas of breeding and cultivation. Seeds of selected varieties have already been obtained to form the core of our breeding programme. Different cultivation parameters are being studied. We have secured funding from Callaghan Innovation to carry out our research programme during 2020-2021. We are characterising and selecting the elite lines to become the first mother plants for our commercial production. We will start the commercial production as soon as we are granted the corresponding licence which is expected in the next weeks.


What's Next?

We will start producing dried flower, and once GMP certification is obtained, we will include extracts in our product portfolio. We will in parallel advance in our research programme optimising the production system, and in characterising and selecting our breeding lines so we can offer dried flower and extracts with different therapeutic properties produced from varieties adapted to commercial cultivation and manufacturing environments.


What are the risks/challenges our company faces?

In our Information Memorandum we have included a list of the main risks that Phytotecnia will face and how we mitigate them. We have focused on the risks inherent to a new company in the cannabis industry that can have a significant impact on its performance or viability.


A Note from PledgeMe

We have completed a Veda check on the company and its Directors, as well as Google checks. 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 1

You need to pledge to see this update.

    Details

    Offer Details

    Current Valuation 6,000,000
    Raise Minimum 500,000
    Raise Maximum 2,000,000
    Share Price 1.00
    Maximum Shares Offered 2,000,000
    Explanation of valuation:

    To value our Company is something that makes us feel quite awkward. To make a valuation based on enterprise values of comparative players that do not have a record of performance, in an industry that is just starting, does not make much sense. Without a record of performance, these enterprise values are based on forecasts made by the companies themselves, estimating their own capability to perform. However, we understand that we need to value our Company to determine the price of the shares that we are offering.

    In November 2019, BDO estimated a post-money valuation for Phytotecnia between NZD 10 M and NZD 20 M, based on our business plan and on enterprise values of other New Zealand medicinal cannabis companies when raising capital. Back then we did not have the licence to grow cannabis for research purposes, the glasshouse that currently is finished was only a plan and the Medicinal Cannabis Scheme by the Ministry of Health was not approved yet.

    Considering the above and being true to our philosophy of avoiding speculation and being real and honest, we have concluded that a pre-money valuation of NZD 6 M is a fair value.

    Financial Summary

    Prev Year Current Year Est. FY 2022 Est. FY 2023
    Revenue NZ $25,775 NZ $1,394,000 NZ $4,717,500 NZ $5,610,000
    Operating Expenses NZ $530,404 NZ $1,079,095 NZ $1,415,217 NZ $2,361,800
    EBITDA -NZ $504,629 NZ $314,905 NZ $3,302,283 NZ $3,248,200
    Net Profit -NZ $513,548 NZ $222,454 NZ $3,176,526 NZ $2,885,197

    Company Details

    Company Name: Phytotecnia Limited

    Company Number: 7735017

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

    Company Documents

    CertIncorporation_Phytotecnia.pdf

    (application/pdf, 587 KB, uploaded 12 November 2020)

    CompanyyExtract_Phytotecnia.pdf

    (application/pdf, 745 KB, uploaded 12 November 2020)

    Phytotecnia_Limited_-_Profit_and_Loss_-_October_2020.pdf

    (application/pdf, 27.7 KB, uploaded 12 November 2020)

    Phytotecnia_Limited_-_Balance_Sheet_-_October_2020.pdf

    (application/pdf, 28 KB, uploaded 12 November 2020)

    Constitution_Phytotecnia.pdf

    (application/pdf, 209 KB, uploaded 12 November 2020)

    Shareholders_Agreement_Phytotecnia.pdf

    (application/pdf, 407 KB, uploaded 12 November 2020)

    Phytotecnia_IM_121120_final.pdf

    (application/pdf, 2.06 MB, uploaded 12 November 2020)

    Director Details

    Name Role Profile URL Invested?
    Irene Lopez-Ubiria Managing Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/53D37201A087210BF080A2E1B55BB5CA
    Alvaro Vidiella-Salaberry Managing Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/4CDBDA6B03F7A861331D93432E682CB4

    Questions 7

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


    How do shareholders track the share price, and how does the value of a share get determined if a shareholder wishes to sell?

    Posted on 13-11-2020 by Alistair Ross

    Hi Alistair, thank you for your pledge!
    We are an unlisted company, so companies like us don’t have our share price visible on a public stock exchange. There is no pre-determined share price. If a shareholder was wanting to sell their shares, the conditions are detailed in the clause 16.2 of the shareholders agreement, which is in the documents attached to this campaign (under "Details"). Any further questions, please feel free to get back in touch.

    Answered on 13-11-2020 by Phytotecnia Limited


    Hi, What should I choose if I am not a new zealand citizen, but I live here in new zealand because and I do have a work visa?

    Posted on 15-11-2020 by Mary Grace Acuesta

    Hi Mary Grace,
    Sorry for not answering before, it has taken a while to find the answer to your question.
    You can pledge if you have a NZ visa. PledgeMe will ask you later for a copy of your overseas passport, and proof of your NZ address.
    Please contact us if you have further questions.

    :

    Answered on 16-11-2020 by Phytotecnia Limited


    Hi there, the process to sell shares seems quite complicated. Do you have any plans for public listing on NZX?
    Thanks Rosemary

    Posted on 20-11-2020 by Rosemary Mortimer

    Hi Rosemary, thank you very much for your question and your pledge.
    It is really difficult to know if we will list the company on NZX in the future. We can't rule out the possibility of public listing to raise funds but that is a decision that we will carefully make considering facts and information that, at the moment, we don't have.
    The sale of shares is regulated in our shareholders agreement (which is in the documents attached to this campaign, under "Details"). We believe that the Company has to facilitate the sale of shares and we are open to consider suitable mechanisms to do so.
    Any further questions, please feel free to get back in touch.

    Answered on 20-11-2020 by Phytotecnia Limited


    What is the minimum number of shares offered for an individual to invest?

    Posted on 20-11-2020 by Binil

    Hello,
    The minimum number of shares you can purchase is 500. The price of each share is NZD 1, so you can invest a minimum of NZD 500.
    Please contact us if you have further questions.

    Answered on 20-11-2020 by Phytotecnia Limited


    Hopefully this is ok to ask - How much funding did you manage to secure from Callaghan Innovation, and for what stage and purposes will it be used for specifically?

    Posted on 24-11-2020 by Edgar Angeles

    Hi Edgar, the question is perfectly fine.
    Phytotecnia was granted NZD 400.000 from Callaghan Innovation In October 2020. This amount is already being used to fund the activities of our research programme during this year and the first half of 2021.
    Callaghan Innovation made a thorough review of our research programme and financials before granting the loan. We are working with them on additional funding opportunities.
    Any further questions, please feel free to get back in touch.

    Answered on 24-11-2020 by Phytotecnia Limited


    Hi - Do you have any updates regarding the company's commercial production license? I believe (as stated) this was just pending location inspection (security)? It would also be good to know some details re the security of the property/location as I think this is an important consideration for people in making decisions to pledge. If this information cannot be shared, that's perfectly ok. Thank you. Cheers - Edgar

    Posted on 27-11-2020 by Edgar Angeles

    Hi Edgar,
    You are right, the commercial licence is just pending a location inspection. The Ministry of Health has scheduled the inspection for the beginning of December, we already have the date. The Medicinal Cannabis Agency will check that adequate security arrangements are in place.
    In the licence application, the applicant must include details of the security arrangements in place to minimise the risk of cannabis and cannabis products being diverted to illicit use. The applicant must describe in detail the arrangements for physical measures and operational procedures relating to security at the location.
    The Agency has completed the desktop assessment of our security arrangements and during the onsite inspection they will verify that appropriate security arrangements are in place and operational.
    For obvious reasons we cannot make public the details of our security plan but if you would like to learn more about the security requirements, you could visit
    https://www.health.govt.nz/our-work/regulation-health-and-disability-system/medicinal-cannabis-agency
    Thanks again for your question.

    Answered on 27-11-2020 by Phytotecnia Limited


    Who owns the results of the research, know-how,licences and income from royalties etc.? Are these included as part of the Phytotecnia share offer?

    Posted on 28-11-2020 by Charlie Strivens

    Hi Charlie, thank you for your question.

    As we stated in our Information Memorandum, there are many variables that influence the yield and quality of raw flower and also the yield and quality of dried flower and extracts. These variables have been very little studied and scientific applied research is needed to understand the influence of each variable and their interactions. Moreover, since the production process, particularly the cultivation stage, is heavily affected by local factors, the research has to include those local parameters. Therefore, we understand that the only way to optimise production is through systematic and on site research. This research could result in intellectual property in the form of know-how, licences, etc. When Phytotecnia partners with other research institutions, the ownership of the results of the research is negotiated and could be shared. When Phytotecnia carries out research without partnerships, the results of this research belong exclusively to Phytotecnia. The same is valid for the royalties that could come from new varieties.

    The funding obtained from Callaghan Innovation is completely free from any obligation of Phytotecnia to share any intellectual property derived from research.

    We would like to make it very clear that there is no intermediate legal structure or entity that will own any research results. Phytotecnia is completely transparent and our legal structure doesn’t include nominee companies or any other intermediate entities. The reason to not include possible revenue coming from research activities in the financials is the difficulty to make a meaningful and not misleading estimation, but research can be a medium- long-term source of significant revenue.

    In short, the results of research are definitively included as part of Phytotecnia’s share offer.

    Please contact us if you have further questions.

    Answered on 28-11-2020 by Phytotecnia Limited

    Pledgers 94

    andy warwick
    2020-12-02 16:34:32 +1300
    jason sawyers
    2020-12-02 05:39:07 +1300
    Julie Reddish
    2020-12-01 18:44:23 +1300

    "Come on! You are great people! Good luck"

    Kristina Delgado
    2020-12-01 11:29:14 +1300
    Charlie Strivens
    2020-11-29 21:41:27 +1300
    Paul McGowan
    2020-11-28 18:20:13 +1300
    Gordon Chaffey
    2020-11-28 12:30:54 +1300
    Justine
    2020-11-26 22:34:26 +1300
    Jude Russell
    2020-11-26 15:56:19 +1300
    Mary Harris
    2020-11-25 17:32:46 +1300
    paul mckechie di king
    2020-11-25 07:50:28 +1300
    Kim and Tony Mazur
    2020-11-24 14:06:35 +1300
    Matilde Eizaguirre
    2020-11-24 06:59:52 +1300
    Lindsay Heard
    2020-11-24 04:22:36 +1300

    "Keen to support Alvaro and his family Cheers Lindsay "

    Carissa
    2020-11-23 21:39:40 +1300
    Sylvia Allison McHugo
    2020-11-23 15:44:21 +1300
    Tina Wilks
    2020-11-23 15:26:43 +1300
    James
    2020-11-23 11:27:48 +1300
    Srikanth Dhondi
    2020-11-23 10:24:29 +1300

    "All the best!"

    Elaine Engman
    2020-11-22 19:11:10 +1300
    Abby Thompson
    2020-11-22 15:45:34 +1300
    Mary Harris
    2020-11-21 20:38:36 +1300
    Wendy Fraser
    2020-11-21 19:31:42 +1300

    "wish it had been legalised. good luck with your venture"

    Vargie Johnson
    2020-11-21 17:54:46 +1300
    Puleikiua Tasmania
    2020-11-21 10:53:19 +1300
    Wayne Scott
    2020-11-20 21:06:17 +1300
    Daniel Yoon
    2020-11-20 19:47:59 +1300
    Gail Presland-Tack
    2020-11-20 19:42:46 +1300
    Graham Coe
    2020-11-20 16:49:59 +1300
    Megan Tomalin
    2020-11-20 14:20:17 +1300

    Followers 24

    Phytotecnia Limited

    If you believe in the potential of medicinal cannabis and value a down to earth business approach based in science and expertise, Phytotecnia might be of interest.

    With our own resources and thanks to the huge support of family and friends, our project is well underway and has met all the milestones on time and budget. We are now about to start the first commercial production cycle and we would like to maximise our production capacity.


    Letter from the founders

    Medicinal cannabis came to us naturally three years ago looking for our expertise. Initially sceptical about the potential of cannabis as a medicine, we soon became completely convinced about its possibilities. At the same time we realised the enormous challenges that a business in this industry would face: lack of scientific knowledge in basic areas of cultivation and manufacturing; emerging markets with evolving demands; and fast developing and diverse regulatory frameworks. In this context, we believe that the only possible approach to succeed in the industry is a learner’s approach: understand and acknowledge the complexity of the medicinal cannabis industry and develop a business model based on expertise, hard work, and patience.

    Our approach avoids speculation and misleading information and acknowledges the legacy of those that have been working with cannabis, frequently underground, for many years.

    With our own resources and thanks to the huge support of family and friends, our project is well underway and has met all the milestones on time and budget. We are now about to start the first commercial production cycle and we would like to maximise our production capacity.

    If you have the patience and interest to read our Information Memorandum, you’ll see that this is not just another medicinal cannabis company. We have a different approach that might not be extremely attractive for conventional investors looking for rapid profits based on purely speculative forecasts. We are convinced that our approach based on science and facts, on expertise, hard work and patience, is not incompatible with high profitability, on the contrary, we believe it is the only way to succeed in the long term.

    We humbly believe that Phytotecnia will be really profitable for many people in many ways. Hopefully you will reach the same conclusion after reading this information memorandum and want to join us.


    Our Team

    Phytotecnia was founded by us, Irene López-Ubiria and Álvaro Vidiella-Salaberry, in 2019. We are agricultural engineers with a doctorate and a masters degree in horticulture, and more than 20 years of experience in applied research and production. Originally from Spain, our nine years in NZ have seen us working as part of the leadership teams of NZ Avocado, Riversun Nursery, and Hikurangi Cannabis Company (now RUA Bioscience). In our roles, we have successfully managed multidisciplinary teams of experts to achieve the goals of each company. We are used to working in highly competitive commercial environments with complex production systems and evolving market demands.


    What have we done so far?

    Phytotecnia obtained a licence to cultivate cannabis for research purposes in February 2020. We will start commercial production as soon as we are granted the corresponding licence which is just pending a location inspection in the coming weeks.

    We have built a dual-purpose research and production glasshouse and two indoor growing chambers, designed to produce conservatively 30 kg of medicinal cannabis dried flower monthly all year round.

    phytotechnica_premises_and_progress
    Pictured: Phytotecnia founders Irene López-Ubiria and Álvaro Vidiella-Salaberry

    The research programme is underway. We have established strategic relationships with research entities in New Zealand and internationally in the areas of breeding and cultivation. Seeds of selected varieties have already been obtained to form the core of our breeding programme. Different cultivation parameters are being studied. We have secured funding from Callaghan Innovation to carry out our research programme during 2020-2021. We are characterising and selecting the elite lines to become the first mother plants for our commercial production. We will start the commercial production as soon as we are granted the corresponding licence which is expected in the next weeks.


    What's Next?

    We will start producing dried flower, and once GMP certification is obtained, we will include extracts in our product portfolio. We will in parallel advance in our research programme optimising the production system, and in characterising and selecting our breeding lines so we can offer dried flower and extracts with different therapeutic properties produced from varieties adapted to commercial cultivation and manufacturing environments.


    What are the risks/challenges our company faces?

    In our Information Memorandum we have included a list of the main risks that Phytotecnia will face and how we mitigate them. We have focused on the risks inherent to a new company in the cannabis industry that can have a significant impact on its performance or viability.


    A Note from PledgeMe

    We have completed a Veda check on the company and its Directors, as well as Google checks. 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.

      Offer Details

      Current Valuation 6,000,000
      Raise Minimum 500,000
      Raise Maximum 2,000,000
      Share Price 1.00
      Maximum Shares Offered 2,000,000
      Explanation of valuation:

      To value our Company is something that makes us feel quite awkward. To make a valuation based on enterprise values of comparative players that do not have a record of performance, in an industry that is just starting, does not make much sense. Without a record of performance, these enterprise values are based on forecasts made by the companies themselves, estimating their own capability to perform. However, we understand that we need to value our Company to determine the price of the shares that we are offering.

      In November 2019, BDO estimated a post-money valuation for Phytotecnia between NZD 10 M and NZD 20 M, based on our business plan and on enterprise values of other New Zealand medicinal cannabis companies when raising capital. Back then we did not have the licence to grow cannabis for research purposes, the glasshouse that currently is finished was only a plan and the Medicinal Cannabis Scheme by the Ministry of Health was not approved yet.

      Considering the above and being true to our philosophy of avoiding speculation and being real and honest, we have concluded that a pre-money valuation of NZD 6 M is a fair value.

      Financial Summary

      Prev Year Current Year Est. FY 2022 Est. FY 2023
      Revenue NZ $25,775 NZ $1,394,000 NZ $4,717,500 NZ $5,610,000
      Operating Expenses NZ $530,404 NZ $1,079,095 NZ $1,415,217 NZ $2,361,800
      EBITDA -NZ $504,629 NZ $314,905 NZ $3,302,283 NZ $3,248,200
      Net Profit -NZ $513,548 NZ $222,454 NZ $3,176,526 NZ $2,885,197

      Company Details

      Company Name: Phytotecnia Limited

      Company Number: 7735017

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

      Company Documents

      CertIncorporation_Phytotecnia.pdf

      (application/pdf, 587 KB, uploaded 12 November 2020)

      CompanyyExtract_Phytotecnia.pdf

      (application/pdf, 745 KB, uploaded 12 November 2020)

      Phytotecnia_Limited_-_Profit_and_Loss_-_October_2020.pdf

      (application/pdf, 27.7 KB, uploaded 12 November 2020)

      Phytotecnia_Limited_-_Balance_Sheet_-_October_2020.pdf

      (application/pdf, 28 KB, uploaded 12 November 2020)

      Constitution_Phytotecnia.pdf

      (application/pdf, 209 KB, uploaded 12 November 2020)

      Shareholders_Agreement_Phytotecnia.pdf

      (application/pdf, 407 KB, uploaded 12 November 2020)

      Phytotecnia_IM_121120_final.pdf

      (application/pdf, 2.06 MB, uploaded 12 November 2020)

      Director Details

      Name Role Profile URL Invested?
      Irene Lopez-Ubiria Managing Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/53D37201A087210BF080A2E1B55BB5CA
      Alvaro Vidiella-Salaberry Managing Director https://app.companiesoffice.govt.nz/companies/app/service/services/documents/4CDBDA6B03F7A861331D93432E682CB4

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


      How do shareholders track the share price, and how does the value of a share get determined if a shareholder wishes to sell?

      Posted on 13-11-2020 by Alistair Ross

      Hi Alistair, thank you for your pledge!
      We are an unlisted company, so companies like us don’t have our share price visible on a public stock exchange. There is no pre-determined share price. If a shareholder was wanting to sell their shares, the conditions are detailed in the clause 16.2 of the shareholders agreement, which is in the documents attached to this campaign (under "Details"). Any further questions, please feel free to get back in touch.

      Answered on 13-11-2020 by Phytotecnia Limited


      Hi, What should I choose if I am not a new zealand citizen, but I live here in new zealand because and I do have a work visa?

      Posted on 15-11-2020 by Mary Grace Acuesta

      Hi Mary Grace,
      Sorry for not answering before, it has taken a while to find the answer to your question.
      You can pledge if you have a NZ visa. PledgeMe will ask you later for a copy of your overseas passport, and proof of your NZ address.
      Please contact us if you have further questions.

      :

      Answered on 16-11-2020 by Phytotecnia Limited


      Hi there, the process to sell shares seems quite complicated. Do you have any plans for public listing on NZX?
      Thanks Rosemary

      Posted on 20-11-2020 by Rosemary Mortimer

      Hi Rosemary, thank you very much for your question and your pledge.
      It is really difficult to know if we will list the company on NZX in the future. We can't rule out the possibility of public listing to raise funds but that is a decision that we will carefully make considering facts and information that, at the moment, we don't have.
      The sale of shares is regulated in our shareholders agreement (which is in the documents attached to this campaign, under "Details"). We believe that the Company has to facilitate the sale of shares and we are open to consider suitable mechanisms to do so.
      Any further questions, please feel free to get back in touch.

      Answered on 20-11-2020 by Phytotecnia Limited


      What is the minimum number of shares offered for an individual to invest?

      Posted on 20-11-2020 by Binil

      Hello,
      The minimum number of shares you can purchase is 500. The price of each share is NZD 1, so you can invest a minimum of NZD 500.
      Please contact us if you have further questions.

      Answered on 20-11-2020 by Phytotecnia Limited


      Hopefully this is ok to ask - How much funding did you manage to secure from Callaghan Innovation, and for what stage and purposes will it be used for specifically?

      Posted on 24-11-2020 by Edgar Angeles

      Hi Edgar, the question is perfectly fine.
      Phytotecnia was granted NZD 400.000 from Callaghan Innovation In October 2020. This amount is already being used to fund the activities of our research programme during this year and the first half of 2021.
      Callaghan Innovation made a thorough review of our research programme and financials before granting the loan. We are working with them on additional funding opportunities.
      Any further questions, please feel free to get back in touch.

      Answered on 24-11-2020 by Phytotecnia Limited


      Hi - Do you have any updates regarding the company's commercial production license? I believe (as stated) this was just pending location inspection (security)? It would also be good to know some details re the security of the property/location as I think this is an important consideration for people in making decisions to pledge. If this information cannot be shared, that's perfectly ok. Thank you. Cheers - Edgar

      Posted on 27-11-2020 by Edgar Angeles

      Hi Edgar,
      You are right, the commercial licence is just pending a location inspection. The Ministry of Health has scheduled the inspection for the beginning of December, we already have the date. The Medicinal Cannabis Agency will check that adequate security arrangements are in place.
      In the licence application, the applicant must include details of the security arrangements in place to minimise the risk of cannabis and cannabis products being diverted to illicit use. The applicant must describe in detail the arrangements for physical measures and operational procedures relating to security at the location.
      The Agency has completed the desktop assessment of our security arrangements and during the onsite inspection they will verify that appropriate security arrangements are in place and operational.
      For obvious reasons we cannot make public the details of our security plan but if you would like to learn more about the security requirements, you could visit
      https://www.health.govt.nz/our-work/regulation-health-and-disability-system/medicinal-cannabis-agency
      Thanks again for your question.

      Answered on 27-11-2020 by Phytotecnia Limited


      Who owns the results of the research, know-how,licences and income from royalties etc.? Are these included as part of the Phytotecnia share offer?

      Posted on 28-11-2020 by Charlie Strivens

      Hi Charlie, thank you for your question.

      As we stated in our Information Memorandum, there are many variables that influence the yield and quality of raw flower and also the yield and quality of dried flower and extracts. These variables have been very little studied and scientific applied research is needed to understand the influence of each variable and their interactions. Moreover, since the production process, particularly the cultivation stage, is heavily affected by local factors, the research has to include those local parameters. Therefore, we understand that the only way to optimise production is through systematic and on site research. This research could result in intellectual property in the form of know-how, licences, etc. When Phytotecnia partners with other research institutions, the ownership of the results of the research is negotiated and could be shared. When Phytotecnia carries out research without partnerships, the results of this research belong exclusively to Phytotecnia. The same is valid for the royalties that could come from new varieties.

      The funding obtained from Callaghan Innovation is completely free from any obligation of Phytotecnia to share any intellectual property derived from research.

      We would like to make it very clear that there is no intermediate legal structure or entity that will own any research results. Phytotecnia is completely transparent and our legal structure doesn’t include nominee companies or any other intermediate entities. The reason to not include possible revenue coming from research activities in the financials is the difficulty to make a meaningful and not misleading estimation, but research can be a medium- long-term source of significant revenue.

      In short, the results of research are definitively included as part of Phytotecnia’s share offer.

      Please contact us if you have further questions.

      Answered on 28-11-2020 by Phytotecnia Limited

      andy warwick
      2020-12-02 16:34:32 +1300
      jason sawyers
      2020-12-02 05:39:07 +1300
      Julie Reddish
      2020-12-01 18:44:23 +1300

      "Come on! You are great people! Good luck"

      Kristina Delgado
      2020-12-01 11:29:14 +1300
      Charlie Strivens
      2020-11-29 21:41:27 +1300
      Paul McGowan
      2020-11-28 18:20:13 +1300
      Gordon Chaffey
      2020-11-28 12:30:54 +1300
      Justine
      2020-11-26 22:34:26 +1300
      Jude Russell
      2020-11-26 15:56:19 +1300
      Mary Harris
      2020-11-25 17:32:46 +1300
      paul mckechie di king
      2020-11-25 07:50:28 +1300
      Kim and Tony Mazur
      2020-11-24 14:06:35 +1300
      Matilde Eizaguirre
      2020-11-24 06:59:52 +1300
      Lindsay Heard
      2020-11-24 04:22:36 +1300

      "Keen to support Alvaro and his family Cheers Lindsay "

      Carissa
      2020-11-23 21:39:40 +1300
      Sylvia Allison McHugo
      2020-11-23 15:44:21 +1300
      Tina Wilks
      2020-11-23 15:26:43 +1300
      James
      2020-11-23 11:27:48 +1300
      Srikanth Dhondi
      2020-11-23 10:24:29 +1300

      "All the best!"

      Elaine Engman
      2020-11-22 19:11:10 +1300
      Abby Thompson
      2020-11-22 15:45:34 +1300
      Mary Harris
      2020-11-21 20:38:36 +1300
      Wendy Fraser
      2020-11-21 19:31:42 +1300

      "wish it had been legalised. good luck with your venture"

      Vargie Johnson
      2020-11-21 17:54:46 +1300
      Puleikiua Tasmania
      2020-11-21 10:53:19 +1300
      Wayne Scott
      2020-11-20 21:06:17 +1300
      Daniel Yoon
      2020-11-20 19:47:59 +1300
      Gail Presland-Tack
      2020-11-20 19:42:46 +1300
      Graham Coe
      2020-11-20 16:49:59 +1300
      Megan Tomalin
      2020-11-20 14:20:17 +1300
      Equity Offer

      From NZ $500,000 for 7.7%

      Up to NZ $2,000,000 for 25.0%

      Share Offer

      Up to 2,000,000 Shares

      at NZ $1.00 per Share

      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.