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First New Zealand Medical Cannabis public offer opens

Contributor:
Fuseworks Media
Fuseworks Media

Waiapu Investments Limited is pleased to 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."

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 on the Hikurangi website (www.hikurangi.enterprises) 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.

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.

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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