Puro has raised $2 million through a PledgeMe capital campaign, which closed today.
The campaign closed prior to its deadline, after Puro’s $2 million maximum target was reached.
The funds will be used to complete development of Puro’s breeding facility in Waihopai, near Blenheim, which will sit beside its existing research facility at the site.
Puro Managing Director Tim Aldridge says they are delighted with the response to the capital raise, which will enable Puro to take the next step in its staged development approach.
“As we close the campaign we’re feeling humbled, excited and so thankful to all those who share our vision to grow premium quality medical cannabis, organically and sustainably. We know the future is bright for this emerging industry here in New Zealand, and Puro is at the forefront of it,” says Tim.
Puro’s new breeding facility will play an important role in continuously improving our crop genetics, while also acting as a nursing facility for seed production and for stocking its commercial glasshouses following further expansion.
“This breeding facility will help us grow plants ‘designed’ with the customer in mind - providing manufacturers, wholesalers and specialist extraction partners with the specific cannabinoid, terpene and flavour profiles they require. And we can’t wait to get started, in fact contractors are on site fitting out our breeding facility now,” says Tim.
Puro expects to have the breeding facility complete in August and operational later in the year once licencing for cultivation is complete.
Those interested in keeping in touch with Puro’s progess, and to hear about any future investment opportunities, can register on the Puro website here.