Kia ora koutou,
Waiapu Investments Limited launched the equity crowdfunding campaign to raise funds to invest in Hikurangi Cannabis last week. From our local community we raised almost $1.4 million.
But then, due to the overwhelming support for the company, the PledgeMe website struggled to meet the high volume of demand on the public launch and suffered a technical fault on Tuesday night. After some overnight technical work, the second attempt at launching resulted in another crash of the PledgeMe website.
As an alternative solution, within 45 minutes a form was sent out for potential investors to indicate their pledge amounts to allocate the remaining available shares. We hit the $2 million legal cap by 7.56pm, and have had almost double our goal pledged through the form. The shares available will be allocated on a first come, first served basis to the pledgers that came through the form. PledgeMe will be contacting both those who will be added as pledgers and those that have been waitlisted by 5pm tomorrow (Friday).
Waiapu Investment’s goal is to increase the wellbeing of people and the land. Our initiatives aim to nurture the land and water, support the growth of vibrant and connected communities and to create an economically and environmentally sustainable future for our region. This is important work, and we are amazed to have such huge backing from the flaxroots locally and nationally.
We apologise for the frustration this situation has caused pledgers. It’s awesome to see the groundswell of support for our little East Coast start-up and the speed at which we hit our goal of $2 million (within 10 minutes of going to the public), but that unprecedented support created a real challenge. We’re humbled and encouraged by the response to continue the hard work and achieve the goals we have set for the company with backing from our growing community of supporters. We will learn from this experience and hope it has not diminished your enthusiasm for sharing this journey with us in a range of ways.
If you missed out on this campaign, you can register your interest for possible future rounds here. We’re investigating all options to be able to include interested investors who missed out this time.
If you have any queries about the pledging process and share allocation, please contact PledgeMe on firstname.lastname@example.org
Panapa & Manu.
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PS. If you support the medical cannabis cause – please consider donating something to this important project: https://givealittle.co.nz/cause/nzcanimprovethings – we need more medical professionals and public education on medicinal cannabinoids.