After going into a brief trading halt on Monday, New Zealand medical cannabis company Greenfern Industries emerged to announce it was going into receivership.
The brief statement said in part:
“Damien Grant and Adam Botterill of Waterstone Insolvency have been appointed as receivers and managers over Greenfern Industries Limited (NZX: GFI). This appointment has been made pursuant to the powers granted under a General Security Agreement between GFI and Emdex Limited, dated 20 December 2024.”
Waterstone is also handling the insolvency of another NZ cannabis firm – the company behind Medical Kiwi, which entered liquidation on February 4. Medical Kiwi was not NZX listed, but raised funds through sources including crowdfunding.
The GFI…
