When it comes to investing in the Canadian cannabis industry, companies like Canopy Growth Corp. (TSX:WEED) (OTC:TWMJF) and Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF) come to mind. When it comes to investing in New Zealand's cannabis industry however, it's hard to think of any publicly-available opportunities.
Finally, after New Zealand introduced legislation for a medical marijuana program last December, we're starting to see New Zealand medical marijuana investment opportunities pop up.
Waiapu Investments Ltd. recently announced a local share offer to enable local ownership in medical cannabis venture, Hikurangi Cannabis Company. Waiapu Investments is an investment vehicle created by Ruatorea based charitable company Hikurangi Enterprises 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" commented 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 popular New Zealand-based 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.
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