Cannasouth Limited successfully completed an Initial Public Offer (IPO) and listed on the New Zealand Main Board (NZX) on 19 June 2019 with the ticker code CBD

For investors interested in purchasing Cannasouth (CBD) shares, click here for a full list of NZX participants who are accredited by NZX to advise on NZX markets.

Cannasouth Limited (NZX:CBD) hosted an online investor call on Wednesday, 29 November 2023, to discuss the Company’s strategy to drive sales of its recently verified products and meet its revenue and operating cashflow targets.

Video Recording of Investor Call

Presentation Slide Pack

Cannasouth Limited (NZX:CBD) announced the launch of a 1 for 8 pro-rata renounceable rights issue to raise up to circa $5.6 million (“Rights Offer”) on Monday 13th November 2023.

The Rights will not be quoted on the NZX Main Board, and accordingly there will be no established market for Rights. If you wish to sell your Rights privately to a buyer you identify, you should contact Link Market Services (see Directory) to request a Security Renunciation Form.

Eligible Shareholders under the Rights Offer will be sent their personalised Letter of Entitlement with links to the Offer Document and Online Acceptance Form on Wednesday, 22 November 2023.

Important Dates

• Announcement of the Offer
13 November 2023

• Record Date
5pm, 21 November 2023

• Opening Date for the Offer
22 November 2023

• Dispatch of Offer Documents and Entitlement and Acceptance Forms
22 November 2023

• Closing Date for the Offer
5pm 7 December 2023

• Announcement of results of the Offer
12 December 2023

• Allotment of New Shares, despatch of holder statements and commencement of trading of New Shares
15 December 2023

• Payment of any refund from scaling of the Oversubscription Facility
by 22 December 2023


Important Links and Documents

Rights Issue Offer Document

Online Application
(for Eligible Shareholders from Wednesday 22nd November 2023)

Letter to Ineligible Shareholders

Cannasouth ‘CBD’ NZX Market Announcements

On 3 November 2023 Cannasouth launched a wholesale offer of secured convertible notes (“Notes”) to raise up to $5 million.

We have already secured subscription agreement for $1 million of Notes, that has been committed by three directors.

The Notes offer will provide working capital for Cannasouth until such time as revenue is generated from several of the Company’s products, recently verified.

The principal terms of the Notes are as follows:

  • 1) The Notes have a term of 24 months.
  • 2) The Noteholders may at their option (subject to paragraph 6 below) either:
    • redeem the Notes for cash at the expiry of the term of the Notes; or
    • convert all or some of the Notes into ordinary CBD shares at an issue price of 16.3 cents per share at anytime prior to the expiry of the term of the Notes.
  • 3) A drawdown fee equal to 3% of the face value of the Notes subscribed for, is payable to Noteholders.
  • 4) The Notes bear an interest rate of 15% per annum.  Interest is to be capitalised for the first 12-months of the term of the Notes, and thereafter is payable quarterly in arrears.
  • 5) The obligations of CBD under the Notes are secured by a General Security Agreement over CBD’s present and after acquired property to be granted in favour of all of the Noteholders.
  • 6) The exercise of the conversion rights referred to in paragraph 2 above are, in the case of Notes issued to Directors, conditional upon CBD’s shareholders approving the conversion rights for the Notes issued to Directors on or before 30 June 2024. Shareholder approval is optional if Directors’ investment represents less than 50% of the total number of Notes issued.
  • 7) In the event that shareholders do not approve the exercise of the conversion rights by Directors, then the interest rate applicable to Notes held by Directors shall increase by 3% per annum. – redeem the Notes for cash at the expiry of the term of the Notes; or convert all or some of the Notes into ordinary CBD shares at an issue price of 16.3 cents per share at anytime prior to the expiry of the term of the Notes.

Given the structure of the Notes offer, only wholesale and eligible investors (as defined by the Financial Markets Conduct Act) are entitled to participate in the Notes offer.

The Company is having discussions with other wholesale and eligible investors about participating in the Notes offer.

Wholesale and eligible investors wanting to participate in the Note offer should contact;

CFO, Colin Foster at or

CEO, Mark Lucas at

For more information about the merger with Eqalis, please click here to be taken to the information page.

Cannasouth Limited released a Medicinal Cannabis Industry Update in June 2021.

This update is designed to share information about the emerging medicinal cannabis industry both in New Zealand and globally; the opportunities and challenges facing industry players, the New Zealand regulatory environment, and the barriers to entry.

The PDF is available to view and download at the following link:
The New Zealand and Global Medicinal Cannabis Industry Update.

A short overview of Cannasouth’s history, milestones, and management team.

Cannasouth Fact Sheet