Freedom Farms has started subscriptions for shares in a campaign promoted by Crowdway, wants to raise PLN 4.4 million from social investors for further development, the company said. The funds obtained from the issue will allow, inter alia, increase the acreage of crops, develop the retail network with showrooms and prepare for a debut on the NewConnect market by 2023.
“You can join Freedom Farms in a unique way now – becoming a shareholder, and thus gaining the opportunity to contribute to the company’s history and the entire cannabis market. There is a lot of strength and knowledge in the cannabis community. The market has a potential that we want. We have a well-prepared business plan, we plan to build a franchise network of showrooms, further increase the acreage and, as a result, build a recognizable brand not only in Poland, ”said Freedom Farms president Przemysław Zawadzki, quoted in the release.
The aims of the issue include:
expansion of cultivation projects;
development of retail sales;
increasing employment;
marketing activities;
preparations for the debut on the NewConnect exchange;
research and development works;
Operation costs.
“The total area of field crops managed by the company is 10 ha this year, and nearly 1.5 ha is being developed under controlled conditions in greenhouses, tunnels and halls. It is planned to double these areas by 2023. The expected value of the yield obtained this year is to PLN 9 million According to the forecasts published by the company, it is expected to increase to PLN 22.5 million in 2023. The projected net profit is expected to reach PLN 1.6 million in 2022. In the next year, the company estimates that the result will be 6.5 million zlotys with revenues exceeding 20 million zlotys “- we read further.
The company controls the entire cannabis production process from planting to distribution. It manufactures and sells, among others hemp oils, containing the full spectrum of cannabinoids (including CBD) and terpenes, and dried for vaporization. It plans to enter the regulated medical marijuana market.
Source: ISBnews
