New Zealand medicinal cannabis firm Ora Pharm has listed on the Syndex exchange in a bid to raise NZ$11.5 million through a Series A funding round.
Following a successful seed capital raise in August 2020, the company is targeting wholesale investors and will use the funds to expand and develop its cultivation, processing and manufacturing capabilities and for the freehold purchase of land.
Ora Pharm’s property in North Waikato includes a greenhouse and processing facility and has been granted a licence to cultivate and supply medicinal cannabis.
Founder and CEO Zoe Reece said: “We’ve achieved everything we set out to do with our seed funding and more. We’re now entering an important growth phase that will see Ora Pharm expand our operations in New Zealand, release our first product range, launch into global markets, and commence research and development.”
The company aims to capitalise on its experience in the US market as Reece and executive chairman and head of international business development Stuart Wilcox previously held senior executive positions at North American cannabis company Curaleaf.
Reece said: “Our expertise, experience, and genuine belief in the benefits of medicinal cannabis are going to be instrumental to achieving our goals and establishing Ora Pharm as a market leader in New Zealand and abroad.”
The Syndex exchange is an online platform where individuals can invest in proportionally owned assets.