A cannabis company’s ambitious plans to buy a Taranaki power plant with investor funds have led to questions about the nature of the deal and the level of information provided to investors.
Cannabis startup Greenfern Industries recently raised more than $2 million from investors via crowd-funding site Equitise, adding to $1.8m that it raised from an earlier round.
In its investment documents the company signalled its intention to put $1m of the fresh capital toward the acquisition and improvement of a small hydroelectric power plant situated in Normanby, South Taranaki.
READ MORE:
• Greenfern Medicinal Marijuana predicts cannabis sales to boom
• Medicinal cannabis company Greenfern launches second equity crowdfunding round
• Greenfern Medicinal Marijuana launches crowdfunding campaign to build facilities at Normanby, South Taranaki
• Comment: Don’t believe the hype, Kiwi cannabis can get you burnt
What was not disclosed was that the plant is…
