Licensing key to cannabis firm Cannasouth’s ambitionsPosted by On

By Paul McBeth

May 20 (BusinessDesk) – Medicinal cannabis
firm Cannasouth is poised to become NZX’s first initial
public offering in two years and is touting its ability to
secure licences and strong relationships with regulators as
selling points.

The Waikato-based company wants to raise
$5 million from invited investors and another $5 million in
a public offer, selling as many as 20 million shares at 50
cents each. Provided it gets at least $5 million, Cannasouth
intends to list on the NZX in what will be the stock
market’s first IPO since Oceania Healthcare went public in
May 2017.

The company filed its product disclosure
statement with the Companies Office on Friday and said it
plans to use the funds raised for research and development,
investigating sites to build…

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