A public investment company focused on economic development in the Tairawhiti is taking its first offer on a local roadshow this week.
Waiapu Investments Limited has been established by the Ruatorea based social enterprise Hikurangi Enterprises as a way to give local residents a stake in their ventures.
“Our charitable company Hikurangi Enterprises is all about job creation and economic development for the East Coast, but we also wanted to give locals some real ownership in what we are doing” said managing director Panapa Ehau.
The board of Waiapu Investments is appointed by Hikurangi Enterprises and includes two lawyers, Kevin Dell and Carey Manuel, with signficant experience in large business deals, investment capital structures and commercial law. A third director Jacqualene Poutu has a background in Māori governance, public policy and tertiary education. Co-founder of Hikurangi Enterprises, Panapa Ehau is the fourth director.
Waiapu Investments first public offer will be available through the equity raising platform provided by crowdfunding company PledgeMe. The offer is for shares in Hikurangi Cannabis Company, a medical cannabis venture initiated by the Hikurangi group of companies.
“We have kept the entry level for minimum shares very low, for some of us it will be the first shares we have owned in a company outside of shareholdings in Māori land blocks and incorporations” said Mr Ehau.
The roadshow starts in Te Araroa this afternoon with a public meeting at Hinerupe Marae followed on Friday with a 4pm meeting at Tikitiki school, Saturday morning 9am at Hati Nati Cafe in Ruatorea and 2pm at Cafe 35 in Tokomaru Bay. The roadshow concludes on Sunday with a 9am meeting at Tolaga Bay Inn and 2-5pm at Te Kuri-a-Tuatai Marae in Lytton Road, Gisborne.
More than 1,800 people around New Zealand have registered interest in investing less than $1,000 to over $500,000. The maximum that can be raised through the PledgeMe offer is two million dollars and the funds raised will be used to pay for new growing and processing facilities for the medical cannabis company, clinical research and associated regulatory costs.
An Information Memorandum will be released in March just before the PledgeMe offer opens online and another local roadshow will give the Tairawhiti residents the first opportunity to buy shares before any remaining shares are offered to New Zealanders living anywhere else.
Contact: Panapa Ehau – 027 2000 747
People interested in investing can register here.