Cannabis firm cops $250k fine over misleading claims

Staff reporters
Wed, 22 Dec 2021

Exaggerating the facts: Medical Kiwi made false claims (Image: supplied)
Exaggerating the facts: Medical Kiwi made false claims (Image: supplied)
Staff reporters
Wed, 22 Dec 2021
Medical Kiwi will pay $250,000 to the Financial Markets Authority (FMA) and offer to refund shareholders after overselling a 'letter of supply intent' as part of its $3 million fundraising campaign last year.The medicinal cannabis and nutraceutical firm, founded by former Nelson mayor Aldo Miccio, admitted to breaching the Financial Markets Conduct Act after making misleading references to contractual arrangements between it and Australian 'global cannabis company' Hektares.The firm had claimed it had a partnership agreement wit...

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