The post New Zealand Cannabis Company To Export Medical Marijuana to US appeared first on High Times.
The plan for a New Zealand cannabis company to export medical marijuana to US as part of a new business deal is underway. The arrangement could provide additional products for the US medical marijuana market. At the same time, it could provide a much-needed economic boost to the Ruatoria region of New Zealand.
New Zealand Green
The deal is part of a new relationship between New Zealand-based Hikurangi Cannabis Company and Seattle-based Rhizo Sciences.
The arrangement has not been finalized, as there are still legal hurdles that must be cleared. But if the deal goes through, Hikurangi will produce 3,000 kilograms of medical marijuana for Rhizo Sciences.
The deal is scheduled to go into effect next year. Beyond next year’s initial shipment, both companies hope to see the partnership grow. In fact, the goal is to bump production up to 12,000 kilograms by 2021.
Sources estimate that the exchange between the companies would be worth around $160 million in New Zealand. That’s roughly $119 million in U.S. currency. The arrangement could be a boon to the East Coast region of New Zealand.
“We are very excited about the impact of this new industry for our communities on the Coast and for New Zealand as a whole,” said Hikurangi Cannabis Managing Director Manu Caddie.
More specifically, Caddie said that the region where his company operates faces a number of economic challenges. In particular, the area has some of New Zealand’s highest unemployment rates. Making it even worse, the region has few high-value products on which it can rely.
Given all this, Caddie thinks that the new partnership