Phytotecnia, a New Zealnd-based medicinal cannabis company, launched its equity crowdfunding campaign publicly through PledgeMe on Monday. The investment raised more than $300,000 privately days prior to the launch.
Founded in 2019, Phytotecnia was created by Irene López-Ubiria and Álvaro Vidiella-Salaberry, who were also part of the leadership team of Hikurangi Cannabis Company (now RUA Bioscience), the first medicinal cannabis company to raise investment on PledgeMe and the first Māori-run company to be listed on the NZX. The duo revealed:
“We believe that the only possible approach to succeed in the industry is a learner’s approach: understand and acknowledge the complexity of the medicinal cannabis industry and develop a business model based on expertise, hard work, and patience.”
The duo also noted that they have a different approach that is now considered “extremely attractive” for conventional investors who are looking for rapid profits.
“We are convinced that our approach is not incompatible with high profitability. On the contrary, we believe it is the only way to succeed in the long term.”
Phytotecnia is offering up to 25% ownership of its company to members of the New Zealand public through its equity crowdfunding campaign. The company is seeking up to $2 million with shares that are $1 each with a minimum investment of $500. The investment round is set to close in mid-December.
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