Wholesale
Armillary

SETEK Therapeutics

Private Equity

Register Interest

The law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.

If you are a wholesale investor under the definition of that term in clause 3 of Part 1 Schedule 1 of the Financial Markets Conduct Act 2013, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information.

You will also have fewer other legal protections for these investments. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.

Transaction Size
NZD 2,000,000.00
Share Price
NZD 1.13
Minimum Investment
NZD 50,000.00
Issue Type
Private Equity
Sector
Agri-Tech

Founded in 2018, SETEK Therapeutics (SETEK) is a New Zealand owned company which aims to cultivate, extract, process and sell pharmaceutical grade, 100% NZ certified organic medicinal cannabis extracts through wholesale and retail distribution to licensed organisations throughout the Asia Pacific region and beyond.

SETEK’s Mission is to help improve the quality of people’s lives through the cultivation, extraction and distribution of pharmaceutical grade (GMP), 100% NZ Certified Organic cannabis extracts.

SETEK is raising up to NZD$2m, followed by an additional c. NZD$9m via a second stage funding round. The shareholders of SETEK are looking to raise additional capital to fund the next stage of growth. The short-term objective is to design and build SETEK’s new cultivation, manufacture and distribution facility, and continue with it's recruitment strategy.

Medical Cannabis Regulations

  • In April 2019 SETEK became the fourth company in NZ to receive a license to cultivate a prohibited plant for research purposes.
  • New regulatory framework expected to be operational March 2020.
  • Further proposed legislative/regulatory change expected in 2021/22 will improve patient access and increase SETEK’s domestic and international market opportunities exponentially.

Sustainable and responsible

  • One of the world’s first net carbon neutral indoor cannabis operations.
  • 100% New Zealand Organic certified.
  • SETEK supports the Aotearoa New Zealand SmokeFree 2025 goal.
  • Commitment to regional economic development and funding of social and health-based programmes.

Infrastructure

  • 26-hectare elevated greenfield site overlooking Lake Taupo.
  • 4,700 sqm indoor and greenhouse facility with initial scaled production capacity of 17,000kg dried flower per annum for extraction/processing.
  • Fully developed and costed construction, cultivation and extraction model.

Leadership

  • Experienced management team
  • Highly credentialed advisory board chaired by former Associate Minister of Health, Hon Peter Dunne.
  • Highly skilled team of technical and scientific experts.
  • Wide ranging clinical and distribution networks.
  • Alliances formed with international industry participants.

Milestones

  • Facility design phase commenced – August 2019.
  • Acquisition of existing New Zealand business specialising in the design and development of LED horticultural grow lights - September 2019
  • 100% acquisition of a New Zealand cannabis research & development company (breeding & genetics) - September 2019
  • MOU signed with AFT Pharmaceuticals to work together in the research, development and commercialisation of medicinal cannabis products - October 2019
  • Construction phase commences – January 2020.
  • Construction complete – July 2020.
  • Good Manufacturing Practice (GMP) and organic certification achieved – December 2020.
  • Wholesale distribution commences – December 2020.
  • Retail distribution commences – 2021.

The Opportunity

SETEK is undertaking a capital raise of up to NZ$2m of its Stage 1 funding round. The raise will occur at a pre-money valuation of NZ$11.3m. SETEK will accept minimum commitments of $50,000.

Upon registering interest, you will be contacted by the advisor to SETEK, Armillary Private Capital.

SETEK Information Memorandum
November 4, 2019
4/11/2019

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