GFI - Wholesale Offer and Licence to Export Controlled Drugs

Wednesday 7th September 2022

Greenfern Industries Limited - (GFI:NZX) today announces the opening of a $1.2 million offer to wholesale investors

As part of Greenfern Industries Limited’s (“Greenfern”) previously announced capital raising strategy to raise up to $5 million to provide additional growth capital for Greenfern, the Board is pleased to announce that Greenfern is opening a $1.2 million offer to wholesale investors, comprising a wholesale pitch deck through mainly the equitise.com wholesale platform and other private placement avenues.

Wholesale investors offer

Pursuant to Listing Rule 4.5.1(a), wholesale investors offer will not exceed the aggregate of 15% of the Greenfern ordinary shares at the beginning of previous 12 months period. The offer will be placed at a 30% discount on the 30-day VWAP price at the time of issue.

The wholesale investors offer document can be found online at

https://equitise.com/offer/greenfern-offer

The key dates for the wholesale investors offer as follows:

Wholesale investors offer opens Wednesday, 7 September 2022

Greenfern shareholder meeting Thursday, 22 September 2022

Wholesale investors offer closes Friday, 30 September 2022

Allotment of shares Monday, 3 October 2022

Commencement of trading of shares on NZX Monday, 3 October 2022

GFI is also pleased to announce that it has been awarded a Licence to Export Controlled Drugs by Medsafe. This is linked to its current Medicinal cannabis licence for its Taranaki operations, where it cultivates medicinal cannabis.

This is the next step in the process of being able to export New Zealand grown medicinal cannabis so that it can be tested against the New Zealand minimum quality standards imposed by Medsafe.

Currently, no testing facility in NZ is able to undertake and meet the testing criteria prescribed by Medsafe, and this is why it is required to be sent overseas for testing.

"Progression is key, and this is another step in the right direction for the team at GFI" said Dan Casey managing director.

ENDS

About Greenfern Industries

Greenfern Industries Limited is an entrepreneurial-led licensed medicinal cannabis, research and biotechnology company that also has operations spanning into the industrial hemp and hemp food space.

It operates primarily from its medicinal cannabis research facility in Normanby, South Taranaki, which is powered by its own onsite hydropower station. Greenfern also has operations and revenue generating streams within the Australian medicinal cannabis sector.

With an arm in the clinical research space, Greenfern is currently finalising clinical trial protocols to pursue over-the-counter low-dose CBD registered medicines in Australia through the Therapeutic Goods Association.

Wholesale Offer and Licence to Export Controlled Drugs

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