NZ - Another Medical Cannabis Company Goes Missing In Action - Is It Their Fault Or The Regs They Have To Comply With? | Cannabis Law Report | Where to order Skittles Moonrock online

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Header Image: Former Southern Medicinal executive director Greg Marshall

The director of a medicinal cannabis company says he would like the money he invested back, and the direction of the venture remains unclear.

Southern Medicinal began growing medicinal cannabis inside the former paper mill building at Mataura in 2022, and one director claimed it would “disrupt the industry and the black market’’ by producing its products for a tenth of the price of its competitors.

Nearly three years later the company appears to be in limbo. It is not growing plants, has not conducted clinical trials and has not brought any products to the market.

Southern Medicinal was a joint venture owned by Dunedin-based Natural Horticulture and Christchurch-based medicinal cannabis company Soma Group.

At its height in 2022 the company was operating a 10,000m² production area at Mataura with plans to expand to 30,000m² the following season.

In May of that year executive director Greg Marshall told The Southland Times it needed 150 Southland farmers to grow cannabis for the operation, and it had plans for a 500m² lab, storage and processing space. As the venture proceeded it would need $750,000 to build capacity during a six to 12-month period, and $1 million for a nitrogen-injecting canning line.

It had employed eight additional staff and had applied for $2m in funding through the government’s Regional Strategic Partnership Fund, and was seeking approval from Medsafe to run a clinical trial.

Then, nothing.

The Companies Office register showed that Marshall, who was also director of Soma Group, ceased being a director on November 20, 2023.

Director Paul Chamberlain, who also ceased his directorship with the company on August 18, 2023, had not responded to a request for comment.

Marshall had not been able to be contacted, but in November 2023 he told RNZ the company “could not actually sell anything yet”.

“We peaked operating and growing at nine different sites, right now we are operating three. The reason we put sites into hibernation is because the rules in New Zealand are very difficult to navigate,’’ he said.

“Even though there’s massive growth in demand, we can’t access the market until the rules are changed.”

https://www.thepress.co.nz/nz-news/360667720/id-get-my-money-back-medicinal-cannabis-company-limbo