Hikurangi Cannabis signs $160mn, multi-tonne deal to supply USA’s Rhizo Sciences
New Zealand pharmaceutical cannabis firm Hikurangi Cannabis has agreed to produce and export tonnes of medical cannabis to American company Rhizo Sciences.
Based in Ruatoria, Hikurangi will produce three tonnes next year, rising to 12 tonnes a year by 2021. Currently, it has a crop of around 5,000 plants.
Rhizo Sciences works with licensed processors and investors to develop large scale production and export facilities to supply the growing demand for medical cannabis.
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The Seattle-based 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 UK, Africa and South America.
Hikurangi Hemp managing director Manu Caddie said: “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.”
Rhizo Sciences Co-founder and President Dr Dallas McMillan added: “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 deal is subject to legislation being passed in New Zealand, something which both parties appear confident will happen without any mishaps.