New Plymouth businessman Philip Brown has been appointed chairman of NZX-listed medicinal cannabis company Greenfern Industries Limited. The role was vacated by Brent King who announced his resignation on 31 October 2022.
Brown holds a significant shareholding in and has been an independent non-executive director of the Company since July 2021.
Greenfern Industries is part of a trio that has been awarded a further Bioresource Processing Alliance (BPA) grant to research high-value products from the by-products of hemp seed processing.
Greenfern is working with Hemp Connect and Callaghan Innovation on the project which, if it can be successfully commercialised, would see new and innovative food and cosmetic products made from what would otherwise be wastage from hemp seeds.
Patients in New Zealand, Australia and the Pacific Islands could soon have access to Syndros, one of only four Food and Drug Administration-approved (FDA) cannabinoid medicines.
Greenfern Industries (GFI) is looking to expand its pharmaceutical offering by considering a number of major international deals that would in part provide a pathway to a Schedule 3, over-the-counter registration using a novel cannabinoid medicine for its subsidiary, GFI Pharma. The deals would also provide authorisation for GFI Pharma to distribute Syndros.
Greenfern Industries continues to lead the way both locally and internationally, having been certified a Toitū net carbonzero organisation for the second year in a row. The certification means Greenfern remains New Zealand’s only Toitū net carbonzero certified medicinal cannabis and industrial hemp organisation.
Greenfern, founded on an unwavering commitment to environmental sustainability, is also the only B-Corp certified medicinal cannabis company in New Zealand.
Greenfern Industries has secured a lucrative export deal that could be worth more than $1.6m.
The initial two-year agreement is an offtake order for the purchase of Greenfern’s Taranaki-grown medicinal cannabis.
An offtake agreement is a binding contract that formalises the buyer’s intention to purchase a certain amount of the producer’s future output.
