Ann: Suspension from Official Quotation, page-38

Kia ora koutou This latest newsletter has been a while coming – but only because Medical Kiwi has been very busy! Your company continues to develop and grow as a leading New Zealand-based medicinal cannabis and biotechnology business. Three exciting pieces of news: Medical Kiwi has just acquired Hardie Health, a company working with naturally-produced novel compounds that have huge medical and commercial potential. Hardie Health was formed as a joint venture between Hardie Pacific Limited, Victoria University of Wellington (through its Victoria Link Limited commercial arm), and a group of landowners in the Solomon Islands. The compounds, some with extraordinary properties, are subject to ongoing research by organic chemistry experts at Victoria University’s Ferrier Research Institute. Hardie Health has so far secured patents on one particular novel compound that has strong prospects for development as a medicine. Medical Kiwi has acquired Hardie Health and its patents from the joint venture partners through an exchange of shares: The partners, including businessman Duncan Hardie along with Victoria Link (now known as Wellington UniVentures) and the Solomon Islands group, are now Medical Kiwi shareholders (ranked equally with all other shareholders). We foresee big synergies between Hardie Health and our medicinal cannabis production and supply, notably from the sharing of research & development capabilities, product processing facilities and market development programmes. Our strategy is for Medical Kiwi to continue developing as a multi-product biotechnology group – and having the science capabilities and commercial skill of Ferrier Research and Victoria Link on board are huge strengths in this strategy.

Board members and managers at the Medical Kiwi facility this week, from left: Jono Singh (Ferrier Research), Jo Shaw (Hardie Health), Tom Ritchie (Hardie Health), Duncan Hardie (Hardie Health), Richard Furneaux (Ferrier Research), James Gough (Medical Kiwi), Jason Whitelaw (Medical Kiwi), Dave Porter (Medical Kiwi, Advisory Board), Ryan Korb (Medical Kiwi), Jess Ellis (Hardie Health), Peter Northcote (Ferrier Research), Nic Kidson (Medical Kiwi), Pete Win (Medical Kiwi).

Medical Kiwi has secured another cornerstone shareholder with a $3 million investment in the group’s business by Emichrome Proprietary Ltd of Sydney. We welcome the confidence that this private investor is showing in Medical Kiwi, Hardie Health and our growth strategy. Medical Kiwi's first commercial cannabis crop is growing well in our state-of-the-art facility (Christchurch) – and we anticipate harvest in July-August. At this stage we have strong expressions of interest from international buyers, with the outcome subject to crop quality testing and regulatory requirements. The Medical Kiwi Board looks forward to updating shareholders as further milestones are reached and decisions made. It remains very much our intention for Medical Kiwi to become a publicly listed company in the foreseeable future.

Best regards Aldo Miccio Chair