A former Nelson mayor has ambitious plans to build the South Island's first medicinal cannabis plant.
The Nelson-based company, Medical Kiwi, has secured $1 million and is looking for new shareholders to raise a further $15m.
It has been granted a cultivation licence by the Ministry of Health, allowing it to establish a cannabis breeding programme for research and development for medicinal cannabis.
Medical Kiwi chairman and former Nelson mayor, Aldo Miccio said land for a facility had been secured in Brightwater, in the Tasman district.
"Designs are completed, global networks are established, and investors are lined up."
Under current regulations, cannabis can only be grown for research purposes. Miccio said amendments to the bill were expected in December, including how it could be sold, who could sell it and what sort of delivery devices could be used.
Cannabidiol (CBD) from the marijuana plant has been shown to decrease pain, inflammation and muscle control problems, as well as improve sleep and appetite, reduce nausea and help psychoactive disorders, without giving a high.
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