Waiapu Investments Ltd

Waiapu Investments Limited is a new investment company created by charitable company Hikurangi Enterprises Limited to enable members of our community and supporters everywhere to have a real stake in the ventures Hikurangi Group is developing.

Developing a registered medicine from cannabis that is grown, processed and licensed in New Zealand is a top priority and is intended to be the first project to receive investor funds from Waiapu Investments.

The board of Waiapu Investments is appointed by Hikurangi Enterprises Ltd. The inaugural board comprises:

  • Panapa Ehau: Co-founder of Hikurangi Enterprises, Panapa grew up in Ruatoria and returned to the Coast five years ago with his young family after two decades of study, travel and business experience.
  • Kevin Dell: A commercial lawyer with his own legal practice in Southland for over 30 years, Kevin recently retired with his wife Hinetu to Ruatoria.
  • Jacqui Poutu: A Māori governance expert with a background in tertiary education leadership, Jacqui is based in Wellington.
  • Carey Manuel: A Ngati Porou lawyer based in Tauranga, Carey specialises in investment vehicles for Post-Settlement Governance Entities, iwi organisation and Māori trusts.
  • Trevor Moeke: Trevor is Principal Advisor, Crown Māori Capability for the Office of the Executive at the NZ Treasury. He is a co-founder of the World Indigenous Nations Higher Education Consortium, was chief executive of Māori broadcasting funding agency Te Mangai Paho (TMP) and has tribal affiliations to Ngāti Porou.

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

Over 2,500 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.

The funds raised through the crowdfunding offer will be used by Waiapu Investments to buy shares in a joint venture between Hikurangi Bioactives Limited Partnership and Waiapu Investments intended to produce the first New Zealand grown and licensed medical cannabis products.

The board of Waiapu Investments will act in the best interests of the company and will have full authority to make decisions about how much, if any, funds to invest in specific projects including medical cannabis initially. These decisions will be based on the information provided in business plans and Information Memoranda for potential investors prepared by the relevant entities involved. There are likely to be other investors and co-owners also involved in each venture, sometimes Waiapu Investments will have the opportunity to appoint board members for the venture and other times it will be a completely passive shareholder.

Biotechnology, life sciences and natural health products development are high risk investments and while the rewards from developing novel treatments for health conditions can be massive, there is a real risk that the investment made in science and clinical trials is not successful.

Equity crowdfunding is risky. Issuers using this facility include new or rapidly growing ventures. Investment in these types of business is very speculative and carries high risks. Investors may lose their entire investment, and must be in a position to bear this risk without undue hardship. New Zealand law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to offers by issuers using this facility. As a result, investors may not be given all the information usually required. Investors will also have fewer other legal protections for this investment. Investors should ask questions, read all information given carefully, and seek independent financial advice before committing any funds.

At this stage we are not planning for Waiapu Investments to use investors funds to purchase a stake in companies that Hikurangi Group are not associated with.

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