First New Zealand Medical Cannabis public offer opens

Waiapu Investments Limited is pleased to release an Information Memorandum for investors and announce the dates, times and locations of the local share offer to enable  local ownership in medical cannabis venture, Hikurangi Cannabis Company.

Waiapu Investments Limited is an investment vehicle created by Ruatorea based charitable company Hikurangi Enterprises Limited to enable the local community and supporters everywhere to have a real stake in the ventures being developed in natural health products.

“Supporting the development of a proven medicine made from cannabis that is grown, processed and licensed in New Zealand is a top priority for the funds raised through this offer” said Panapa Ehau, managing director of Waiapu Investments.

“It is fantastic to be able to offer people at the flax roots an accessible investment opportunity allowing them to be part of an industry that is booming globally.”

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While Hikurangi Enterprises will be the only shareholder with voting rights, the charitable company is offering most of the ownership in Waiapu Investments to East Coast residents and then the wider public via the PledgeMe.Equity crowdfunding platform.

Nearly 3,000 people have already registered interest in the opportunity to own shares in Waiapu Investments. The minimum investment will be $50 for 50 shares and the PledgeMe share offer can raise up to $2 million.

Subject to the granting of a Medical Cannabis licence, the funds raised by Waiapu Investments will be invested in Hikurangi Cannabis Company to build a pharmaceuticals processing facility in Ruatorea and to carry out phase one clinical trials for New Zealand’s first medical cannabis product.

An Information Memorandum for potential investors has been released today and copies will be available in public locations around the region before a local investors roadshow starts next week. A series of community meetings start on Tuesday in Te Araroa with a different village hosting a meeting each day until the final meeting in Gisborne on Sunday 6th May.

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People interested in investing should bring ID (birth certificate, passport or driver licence) and proof of address (i.e. utilities bill, bank statement, government agency letter, etc.) and a credit/debit card if they have one. Crowdfunding investors can pre-register on the PledgeMe website.

Any shares still available after the roadshow will be offered online to the rest of New Zealand at 7pm on Tuesday 8th May via the PledgeMe.Equity platform.

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DOWNLOAD: Waiapu Investments Limited – Information Memorandum 

LINK: Register as an investor by following the instructions on the PledgeMe website here.

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For more information please visit our Frequently Asked Questions page or contact Panapa Ehau: panapa@hikurangi.enterprises

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Roadshow of community meetings:

  • Te Araroa, Hinerupe Marae, Tue 1st – 5.30-7.30pm
  • Tikitiki, Waiapu RSA, Wed 2nd – 5.30-7.30pm
  • Ruatorea, Hati Nati,  Thu 3rd -5.30-7.30pm
  • Tokomaru, Cafe 35, Fri 4th – 5.30-7.30pm
  • Uawa, Hauiti Marae, Sat 5th – 1.00-7.00pm
  • Gisborne, Waikirikiri School, Sun 6th – 2.00-5.00pm
  • Online via http://www.PledgeMe.co.nz – Tue 8th, 7.00pm

Medical Cannabis Cultivation Licence submitted

Hikurangi Cannabis Company has submitted a 113 page application to the Ministry of Health for a Medical Cannabis Licence to Cultivate a Prohibited Plant at the Ihungia growing site currently licensed to grow Industrial Hemp.

The application includes a detailed Security Plan, Harvest Plan and Facilities Plan as well as information on people who will be present at the site and what happens to the product after leaving the site.

The Ministry of Health have said the application will be processed within 45 working days unless further information is required.