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Australian grower starts second crowd-sourced funding campaign

Cannaponics' second crowd-sourced funding campaign is officially open with Birchal here.

Why a second capital raise?
"Thousands of Australians rallied behind us as we crushed records to be 1 of only 2 campaigns in the history of crowd-sourced funding to reach our maximum $5 million target - and the largest WA-based company in the platform's history," says Rod Zakostelsky, Managing Director & Founder of Cannaponics.

"Since then, we've continued to grow our community of supporters who join us in our mission to produce Australian-owned and -grown, clean, green, premium medicinal cannabis at scale in our beautiful Western Australian landscape," he says.

"The global cannabis industry demand continues to accelerate. With Germany recently legalizing cannabis and regulations on imported flower becoming tighter, we're in a unique position to capitalize on the shift in Australia from importing product, to replacing it with our superior Australian-grown product," Rod continues.

"With the significant headway we've made over the last 12 months, we're now ready to begin the next phase of our journey and capitalize on the opportunity and demand for Australian-made and -grown premium medicinal cannabis."

Cannaponics plans to allocate the funds raised in its second capital raise to:
- Complete the setup of their advanced manufacturing facility and in-house laboratory, including validating their EU-GMP manufacturing arm
- Complete their R&D biotechnology precinct
- Orchestrate their unique Cannabis Mining process, allowing them to extract and distribute the exceptional qualities of the cannabis plant to supply local wholesalers

"Importantly, we're forging key relationships and distribution with two of Australia's largest wholesalers, and we're taking care of our people and the planet," Rod says.

"We're excited to continue leading the way in Australian-owned, Australian-grown products, and providing jobs for local Australians. We're proud to have been deemed so critical to job development and our local economy that we've been awarded $2 million in grants for new and emerging industries by the State of WA."

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