Poll shows marijuana vote on a knife edge

New research shows support for legalising recreational marijuana has lifted, but the race remains too tight to call.

A survey, the fourth of its kind in the past 12 months, shows support has risen 9 per cent in the past quarter.

About 48 per cent of the 1199 adults surveyed say they would now vote yes for legalisation, while 39 per cent are in the no camp.

The figures have fluctuated widely across the four surveys, conducted by research firm Horizon for Kiwi cannabis firm Helius Therapeutics.

In November 2018, support was 60 per cent, before dropping to 52 per cent in April and then to a low of 39 per cent in August.

Paul manning, co-chief executive of cannabis firm Helius Therapeutics, attributes the fluctuations — and recent lift in the yes camp — to recent events in the media.

“Factors could include September’s release of the Helen Clark Foundation’s report . . . ‘The case for Yes’, [documentary series] Patrick Gower: On Weed, and perhaps a reduction in scaremongering by conservative groups, for now,” Manning says.

The debate is increasingly divided along partisan lines, with 60 per cent of Labour voters in support and 65 per cent of National voters against legalisation.

The major political party with the strongest level of support is the Green Party with 70 per cent, while National sits on the other side of the spectrum with 24 per cent.

“Back in August, it seemed the referendum was heading for defeat, but I’m not so sure now,” Manning says.

The vote could be decided by the 14 per cent of voters who say they have no opinion on the matter. The ways these voters swing will determine whether the legislation passes at next year’s election or not.

While Manning is focused strictly on the medicinal side of the industry, he does believe recreational legalisation could have a broader impact on the whole industry. He says it would take recreational cannabis away from a gang-controlled black market and free more than 320,000 everyday people from breaking the law. “Without doubt, legalising personal use would enable the creation of a wider variety of cannabis-based wellness products.”

A $15m top-up

Manning told the Weekend Herald his company is in the process of raising a further $15 million in a bid to expand the company’s operations and make a number of additional hires.

This will add to the $15m the company raised last year from local investors, led by richlisters Guy and Sue Haddleton.

A decent chunk of the money has been used establishing the business and setting up a state-of-the-art medical cannabis facility in East Tamaki.

Manning says stage one of the facility will be completed by February next year, putting it on track to commercialise the business as soon as legislation allows.

In addition to building the premises for its operations, Helius has also made structural tweaks within the hierarchy of the business in recent months.

The company has adopted a cochief executive structure, whereby Manning leads R&D, product and brand experience; and Gavin Pook is in charge of HR, health and safety, and finance.

The company has also appointed Mitch Cuevas, previously MD at pharmaceutical giant API, and pain specialist Dr Rick Acland to its board.

Earlier this year, the company hired neuroscientist Dr Jim Polston to become its chief science officer.

Crowd-funding windfall

In other cannabis news, crowdfunding website PledgeMe says more than $6m has been raised for medicinal cannabis through more than 2300 investors in the past 18 months.

These investors now hold shares in Gold Coast-based CDA Health, Marlborough-based Puro and Ruatoria-based Waipu Investments.

Puro has raised the most funds for a campaign in PledgeMe history, with its combined whole and public raise hitting $2.5m through 646 investors.

So far, PledgeMe has run four equity campaigns in the cannabis space.

In addition to Puro continuing to raise funds through the site, PledgeMe is also running a campaign to raise funds to open a Whakamana Cannabis Museum in Christchurch. That campaign has so far raised $116,000.

Global connection

New Zealand firm Medical Kiwi has signed a memorandum of understanding with Empirical Labs, which develops dietary supplements in the US market.

“Our new relationship with Empirical Labs means that we can get proven cannabis products quicker to market as they are ahead of New Zealand in research and development,” Medical Kiwi chairman Aldo Miccio said.

Established in December 2018, Medical Kiwi was the first medicinal cannabis company in the South Island to be granted a cultivation licence by the Ministry of Health, allowing the company to establish a cannabis breeding programme for research and development for medicinal cannabis.

These licences do not yet allow cannabis firms to sell any product. They will have to wait until legislation changes next year to possibly earn any revenue from their products.

Medical Kiwi is setting up a number of international deals with the view to selling products in the coming years.

Medical Kiwi has also signed an exclusive distribution deal with Vitality CBD, allowing the company to import and sell Vitality CBD’s range of 0 per cent THC products, sold across the UK including in Boots stores and Tesco supermarkets.