New Zealand-based medical marijuana company Hikurangi Cannabis Company has just struck a deal with an American company to export $160 million worth of medical marijuana.
The U.S. company is called Rhizo Sciences and is based in Seattle. Per the deal, Hikurangi Cannabis will product 3000kg of pharmaceutical-grade cannabis products in 2019. By 2021 this number will increase to 12,000kg.
According to Manu Caddie who is the managing director at Hikurangi Cannabis, the deal represents something huge for the region that deals with high unemployment levels.
“We are very excited about the impact of this new industry for our communities on the Coast and for New Zealand as a whole,” Caddie remarked.
It was earlier in January that both companies announced a plan to open a facility in New Zealand that will manufacture THC-free medicinal marijuana products.
“New Zealand has a major opportunity to develop the high CBD hemp industry and become a leading world producer,” stated Dallas McMillan, Rhizo Sciences co-founder and vice president.
“The global demand for legally produced CBD is growing rapidly and producers can’t keep up. Hikurangi Cannabis is ideally positioned to deliver a world class clean, green product to supply our customers next year. We’ll be working closely with regulators to ensure Hikurangi can meet and exceed international benchmarks for quality, safety and security.”
