It's definitely been a busy time for the Hikurangi Group as we prepare to launch our crowd fundraising offer. Like other projects we have in the pipeline, our equity raising campaign is a little different to anything else that's been done before. We are giving the residents where the funds will be invested, the first opportunity to buy shares, so that the local community has a real stake in the ownership of the company, and in the operations that will be set up here in the heart of the East Coast.
From a legal and organisation perspective, this means a whole lot of work to make sure everything behind the scenes is water-tight for the investors and the entities involved. We have been asked by our legal team to delay the launch of the shares offer so they can get all the t's crossed and i's dotted. We do want to make sure things are done right, so we are moving the start date of the fundraising from mid February to early March.
We will be doing a roadshow for local residents on the East Coast to answer questions face to face. This will take place Thursday 15 February to Sunday 18 February 2018. We will send out an update after the roadshow to let everyone know how it went and add any common questions and answers to our FAQ page. By this time we should have the date for the campaign launch and will update you.
The week before the launch we will send out an Information Memorandum with all the information about the offering to invest.
Over the last week we have been negotiating the finer points of a major export order that we aim to use to scale quickly and produce a medicine for New Zealanders at an even more affordable price.
Our plants are growing well and we have sent the first set of flowers to the lab for extraction and testing. The first big ticket item that our investors will be assisting with is a state of the art extraction and analysis lab for Ruatoria. Details of this facility will be coming out over the next few weeks.
We recently hired a medicines formulation expert – with extensive experience in developing medicines in Europe and North America – to oversee the international team of medical and technical experts involved in our product development. With medical researchers, extraction engineers, regulatory consultants, growers and other experts all contributing to different parts of the product puzzle it is exciting to see the product take shape.
It's exciting times in the Hikurangi Group, we look forward to you joining the whānau and will keep you updated as we get closer to launching the offer next month.