Cannasouth has welcomed more than 550 new shareholders onto its share register since listing on the Main Board of the New Zealand Stock Exchange on June 19 this year.
Following its Initial Public Offering (IPO) as part of the NZX listing, Cannasouth had circa 1,450 shareholders. However, this number has grown strongly since listing and yesterday the total number of individual registered investors passed 2,000.
Cannasouth CEO, Mark Lucas, says the number of new shareholders vindicated the company’s decision to list on the NZX.
“Interest from new shareholders clearly shows there is strong demand from investors to participate in the emerging medicinal cannabis industry in New Zealand.
“Cannasouth has made its submission to the Ministry of Health (MOH) on the Government’s proposals for medicinal cannabis regulations to support the Medicinal Cannabis Scheme passed into law last December.”
“We look forward to seeing these regulations implemented before the end of this year, which will pave the way for the production of and access to medicinal cannabis products here in New Zealand.”
About Cannasouth Limited
Cannasouth is a biopharmaceutical research and development company based in the Waikato heartland of New Zealand. The Company has been established to focus on the commercial development of the medicinally beneficial attributes of cannabinoid compounds such as CBD, THC and associated chemical structures that are produced by the cannabis plant. Our goal is the development of next-generation cannabinoid medicines that support patients' health outcomes and improve their quality of life. Our products will be produced under GMP & ISO using environmentally friendly methods without the use of harmful chemicals or solvents, ensuring patients are treated with pure cannabinoid therapeutic compounds of the highest quality.