Cannaponics targets ASX debut as it scales Collie medicinal cannabis ops

WA medicinal cannabis manufacturer Cannaponics is eyeing an Australian Securities Exchange listing in the second half of this year as it positions itself to capitalise on the global legal cannabis market, forecast to be worth more than $150 billion by 2030.

Led by Rod Zakostelsky, the Collie-based company plans to produce up to 15,000 tonnes of medicinal cannabis annually — including dried flower and oil — from its 165-acre South West facility, with its first harvest expected in March or April.

Ahead of the planned initial public offering, Cannaponics has diversified its revenue streams, including the $550,000 purchase of the Club Hotel Collie in 2024 to help address local housing shortages and attract staff.

The hotel, which also accommodates mining workers, has helped lift revenue to $6 million, with plans to expand capacity and boost annual earnings to $14 million.

Cannaponics has appointed Morgans as lead manager and adviser for the IPO.