Ruatoria-based Hikurangi Cannabis has become the first NZ company to receive a medical cannabis license and it's going to be awesome! https://t.co/Is0bqW5WcJ pic.twitter.com/rscyEWUSOc
— Manu Caddie (@manucaddie) August 25, 2018
Hikurangi Cannabis has become the first New Zealand company to secure a license to cultivate medicinal cannabis plants.
The license issued by the Ministry of Health enables Hikurangi to breed cannabis strains that can eventually be used in medicines.
Hikurangi has secured significant investment and will now start building high tech greenhouses and processing facilities near Ruatoria on the East Coast. Hikurangi has commissioned clinical trials to start next year for the first New Zealand made cannabis medicines.
Obtaining the license triggers a series of transactions for the company to access funds raised over the past six months from New Zealand investors.