Ruatoria-based Hikurangi Group has signed an agreement to work with Rhizo Sciences LLC, a cannabis industry development and distribution company based in Seattle, Washington, USA.
Rhizo Sciences develops and manages medical cannabis cultivation, extraction and manufacturing facilities internationally. Their international experience and turnkey systems will enable Hikurangi Group to rapidly expand their Ruatoria medical cannabis cultivation operations and develop export manufacturing capability that meets the highest international standards for pharmaceutical grade products.
Rhizo Sciences works with licensed processors and investors to develop large scale production and export facilities to supply the growing demand for medical cannabis and CBD internationally. The company specialises in CO2 extraction labs and GMP manufacturing facilities to produce cannabis flower and oil products as well as pharmaceutical grade medicines.
The company is developing a global network of growers, manufacturers and distributors to of wholesale cannabis flower, extracts and cannabis medicines to distribute internationally including the United States, Canada, Australia, Israel, Europe, the United Kingdom, Africa and South America. To meet demand they are developing new facilities in strategically positioned new markets.
Hikurangi Group and Rhizo Sciences intend to establish the first pharmaceutical grade GMP medical cannabis production and processing facility in New Zealand. This will allow Hikurangi Group to provide high quality medical cannabis products to New Zealand patients and become a leading producer and processor of medical cannabis internationally.
“This agreement is great timing as we take an offer to investors next month” said Hikurangi Hemp managing director Manu Caddie. “Having a partner with deep industry knowledge and global customers provides exciting opportunities for our young company. This relationship will enable us to export product potentially worth tens of millions every year.”
Auckland investment brokers Northington Partners are taking the Hikurangi offer to institutional investors in February. Northington director Nick Sandlant agrees the partnership will only add value to the capital raise. “We already have strong interest in this offer, the first opportunity to invest in a New Zealand medical cannabis venture from crop to consumer, and the relationship with Rhizo Sciences, their wholesale customers and producer partners around the world should give investors even more confidence in the potential of Hikurangi Group to deliver proven medicines to New Zealand patients and customers around the world.”
Rhizo Science co-founder and president Dr Dallas McMillan says his company was attracted to Hikurangi Group for two reasons. “Hikurangi have demonstrated their commitment to world class production standards and the clinical trials they have planned for this year will be world-leading. We want to be able offer our customers clean, green New Zealand product and an integrated company like Hikurangi Group offer the perfect partner.”
The facility will begin manufacturing THC-free CBD products in 2018 with a plan to produce a full range of pharmaceutical grade medical cannabis products for local patients and for worldwide export.
- Manu Caddie: +64 274 202 957
- Dr Dallas McMillan: +1 206 452 3348
- Nick Sandlant: +64 21 990 419