Medicinal Organic Cannabis Australia (MOCA) has raised almost $30,000 through its equity crowdfunding campaign on PledgeMe. The Sydney-based company is aiming to raise up to $500,000 through offering shares to the Australian public via their equity crowdfunding campaign.
Co-founder and Company Director Alessandro Sorbello is confident that the Australian medicinal cannabis market is set up for success.
“Australia’s cannabis market is expected to surpass the US$1.5 billion mark by 2025, making it the largest legal cannabis market in the Oceania region. We are very proud of what we have achieved so far and are very excited about the journey that’s unfolding before us”.
MOCA already has 21 cannabis products approved by the Therapeutic Goods Administration of Australia (TGA) due to be shipped into Australia next month. They have been an Australian Government-licenced medical cannabis importer, exporter and wholesaler since 2018.
Mr Sorbello and Co-founder Emanuela Ispani have been working closely with Italian growers for the last three years to produce high-grade, organic cannabis. The overseas production is one of the key differentiators of MOCA from their competitors, according to its directors.
“We’ve created an innovative way to lower the product cost to patients by up to 30% of current retail prices. CBD flowers on the wholesale market in Australia sell to the end-user for approximately $120 for 10 grams, while we anticipate being able to offer 100g for the same price, which is well below the black market price (28g at $250)”.
PledgeMe’s Founder, Anna Guenther, is excited to see how many investors come on board as MOCA shareholders. The platform has had several successful campaigns run by medicinal cannabis companies, including Medical Kiwi which raised over $2 million last month in New Zealand.
“Historically, Medicinal cannabis companies have activated their crowds really well via PledgeMe campaigns. We’re keen to have MOCA join our alumni as one of those companies”, says Guenther.
MOCA’s equity crowdfunding campaign closes on 21/10/20 at 6pm AEST. They are seeking to raise up to $500,000 which represents 3.2% of the company. Shares are $1 each with a minimum investment of $500.
You can find the campaign and information memorandum here: https://www.pledgeme.com.au/investments/35
About Medicinal Organic Cannabis Australia (MOCA)
Medicinal Organic Cannabis Australia (MOCA) was co-founded in 2017 by Alessandro Sorbello and Emanuela Ispani. The company has established a strong network of growers overseas, has 21 products approved by the TGA, and has been licenced by the Australian government since 2018 to import, export and sell cannabis products wholesale. They have a team with over 40 years’ of combined experience in the cannabis industry.
PledgeMe provides a platform for Kiwis and Aussies to go to their crowds for funding and has raised over $51 million for over 1400 campaigns in the past seven years.
Image: Company Co-founders Alessandro Sorbello and Emanuela Ispani. If you’d like to use the image below, click to download.