Greenfern Industries has reached an agreement with Australian-based Cannvalate Pty which will assist Greenfern (GFI) to develop its cannabis medicine sales in Australia, which are marketed under the GFI Pharma brand.
GFI chairman Brent King said the transaction includes the issuance of shares in Taranaki-based Greenfern to a value of NZD $900,000. GFI and Cannvalate will now move to finalise an agreement, which is compliant with Australian and New Zealand law and NZX listing rules.