Whakamana Museum Limited
By Abe Gray
NZ $214,616 pledged
299 people pledged
Closed
NZ $1,000,000 minimum target
Pledges will only be confirmed if the target is reached by: 16/12/2019 at 4:00 PM (NZDT)
Make a PledgeAbout
Whakamana Museum Limited
Due to financial regulations shares in Whakamana through this PledgeMe campaign may only be purchased by; New Zealand residents, New Zealand citizens living overseas, or individuals who qualify as a wholesale investor. If you are overseas and you do not meet these criteria, you can still donate to Whakamana through New Zealand registered charity Seed The Change here: https://www.thegifttrust.org.nz/seed-the-change-whakamana (Seed The Change will receive the shares in Whakamana but you will still receive the applicable reward perk!).
INTRODUCTION
Whakamana Cannabis Museum was founded in Dunedin in 2013. The Museum was originally established to change the public perception of cannabis in New Zealand through public education and outreach. It evolved out of University campus cannabis legalisation activism as we sought a more effective way to communicate the science and facts surrounding the history and uses of cannabis, its harms, and the case for law reform.
After the fortuitous meeting of Abe Gray (founder of Whakamana) and Michael Mayell (founder of Cookie Time) at the inaugural iHemp Summit in July 2018, the plan to open Whakamana, the New Zealand Institute of Cannabis Education, Research and Development in Christchurch, New Zealand was hatched. This ambitious proposal builds upon what was achieved in Dunedin, and takes Whakamana even further, to advance Cannabis knowledge, acceptability, influence, and reach.
The Whakamana Cannabis Institute is centered around Cannabis Education with a planned world-class Museum during the day, morphing into a subscription based ‘University’ in the evening, and Plant-Medicine Shot Bar/alcohol-free Nightclub & events centre at night! All fully serviced by a custom App and catered to by a Hemp Food Eatery which will also have e-bike delivery. With adjacent space housing a co-working space and Networking Club, and subject to changes in legislation, a future dispensary or doctor’s office!
WHAKAMANA MEANING:
EMPOWERMENT, TO RESTORE THE MANA OF.
SHARE OFFER
Whakamana is undertaking an equity crowdfunding campaign to raise between $1million and $2million from New Zealand residents and New Zealand citizens overseas in eligble countries.
Not a New Zealand resident or NZ Citizen overseas? You can still donate to support our vision through Seed The Change: https://www.thegifttrust.org.nz/seed-the-change-whakamana
LOCATION AND FACILITIES
Whakamana has secured a lease 2020 - 2026 (+ 6× 5 year renewal rights, subject to raising the funds) for two of the oldest, most beautiful, and truly unique historic buildings in Christchurch, the now deconsecrated former Trinity Congregational Church (Trinity) and Shand’s Emporium (Shand’s), to house our vision of ‘the world’s best cannabis museum’.
Floor plan of proposed Whakamana exhibition, cafe and retail space inside Trinity
Our aim for the main exhibition space will be to house our museum exhibits, which we plan to design so they fold away at night to open the space for events and the nightclub! We also aim to have a hemp-based Café showcasing phytonutrients from food as a form of medicine, and a retail store selling relevant products and souvenirs. In addition, we aim to create a members-only social space that can be used for events and meetings, networking or just socialising. All products services and experiences will be conveniently available through our App.
OUR EXHIBITS
WE AIM TO DELIVER WORLD-CLASS INTERACTIVE DISPLAYS, EXHIBITS, AND EXPERIENCES ABOUT CANNABIS:
THE HISTORY OF THE PLANT AND THE PEOPLE THAT USE IT
THE BIOLOGY OF THE PLANT ITSELF INCLUDING THE DRUG (ESSENTIAL OIL OF CANNABIS)
THE INDUSTRIAL PRODUCTS FROM THE STEM AND SEEDS (HEMP)
THE BIOLOGY OF THE ENDOCANNABINOID SYSTEM
AND THE INDUSTRY THAT IS NOW DEVELOPING AROUND IT
OUR APP
The Whakamana App is the beating heart of our business. The aim of the App is to reduce operating costs and increase connection with our tribe through the rich features described below. We believe our App will streamline the scaling of our operations to additional locations in the future, and it also aims to enable a global reach through live streaming of our events.
The Whakamana App will be used to deliver what we hope will be an outstanding experience for our tribe — all aspects of our business will be accessed through the App including live broadcasting of our educational content around the world.
MARKET OPPORTUNITY
*Horizon + Helius Cannabis Referendum Study Jan 2019
We aim to be the first cannabis dispensary in New Zealand. Before Prohibition, cannabis (including hemp) was the most useful and economically viable commodity crop. With prohibition waning, it is returning to its rightful place in the botanical economic order.
USE OF CAPITAL
Funds raised through PledgeMe will be primarily used to:
- Occupy and help restore Shand's and Trinity
- Build the "Te Papa of Cannabis" museum exhibits
- Fit-out the commercial kitchen
- Fit-out the events centre
- Develop our App
ABOUT OUR TEAM
Abe Gray - Founder, Hempster, Curator, Scientist
Abe Gray is a botanist and science communicator with 20 years’ experience in the cannabis Industry. Originally from Minnesota, USA, he has lived most of his adult life in New Zealand where he gained his Bachelor and Master of Science degrees in Botany at the University of Otago in Dunedin. In 2013 he combined his 20 years of experience as a cannabis legalisation activist with his 15 years of experience as a tutor and guest lecturer in biology to found New Zealand’s first interactive cannabis educational experience, the Whakamana Cannabis Museum, in Dunedin. He is also the primary caregiver to his two children while his wife works as a surgeon. Abe lives in Christchurch and enjoys tramping, bike riding and bird-watching in his spare time.
Michael Mayell - Founder, Hempster, Social Entrepreneur, Evangelist
Best known for founding Cookie Time 37 years ago at the age of 21, today Michael is a social entrepreneur with 5 cannabis-hemp projects underway, as well as Drinkable Rivers in Our Life Time — a moonshot vision for New Zealand which will require farmers to swap cows for cannabis. He is especially passionate about hemp as a food, and cannabis as a plant-medicine. Hemp seeds are acknowledged as the planet’s most nutritionally complete food. Michael wants to see them become a new staple health food in Kiwi kitchens — reasoning that if we eat them, the demand created will encourage farmers to grow them — over time reducing the dependence upon cows, thereby beginning to restore balance to our rural ecosystems. Michael’s abundant enthusiasm, big out of the box thinking, cannabis knowledge and cannabis connections will ensure that Whakamana has a passionate front person inspired to make NZ the cannabis capital of the world, and Kiwi’s the most cannabis literate people on the planet.
Sally Papps - Museum Exhibits (Exhibition Design and Consultancy Ltd)
Sally has worked in the museum industry since 1994 across the fields of exhibition design, collection management, and art curation, with a focus on boutique museums and society projects. Sally brings a broad vision to the project at hand, using creative skills combined with an interest on the language of objects and a quirky sense of humour to create a unique museum experience.
Cam Sims - Chef (Plant Culture)
Cam has been dubbed the ‘Kiwi King of Cannabis Cuisine’. He will be designing hemp-based meals, snacks and drinks for our Hemp Food Eatery and Plant-Medicine Shot Bar.
Alex Prate - App Design (Realifex)
With 10 years of experience in cutting-edge and award-winning app designs (W3, Davey, and Webby Awards), Alex aims to create and deliver the Whakamana App as a meaningful, entertaining and unforgettable experience to onsite visitors and online users.
Taurus - Accountants
Taurus is committed to helping individuals and businesses reach their goals and prosper. Their approach is to provide clients with the best financial advice, offer well-researched opportunities, and at all times support it with the rigour of chartered accountancy to produce long term results.
Tim Sissons - Lawyer
Tim is our legal advisor. Tim has over 10 years experience advising new and developing businesses and enjoys working with startups.
Strategy Creative - Branding & Marketing
Powered by people, driven by purpose, Strategy is a creative agency with over 25 years’ experience in Christchurch and 6 studios across New Zealand, Australia and Japan. They believe in humanising brands through the power of creativity and collaboration.
WHAT WE'VE DONE SO FAR
Whakamana has established a high media profile and managed to maintain this visibility over the years. Whakamana is now a cult term for cannabis empowerment.
WHAKAMANA IS ONE OF THE LEADING CANNABIS CULTURE AND LIFESTYLE BRANDS IN NEW ZEALAND.
WHAKAMANA IS CURRENTLY THE ONLY CANNABIS BRAND IN NEW ZEALAND OFFERING THE UNIQUE COMBINATION OF EDUCATION, EXPERIENCES, MERCHANDISE, FOOD AND COMMUNITY.
STRATEGIC GROWTH PLAN
Both of our founders are committed to Whakamana for the long haul.
ONCE WE HAVE FIRMLY ESTABLISHED WHAKAMANA IN CHRISTCHURCH, WE WILL FURTHER EXPLORE THE FOLLOWING OPPORTUNITIES:
Expand the concept in the form of ‘minifranchises’. The App and customer base from Christchurch could be a huge selling point that could help 'Whakamana Centres’ and hemp Cafés flourish in cities and towns throughout New Zealand.
Streaming 'Cannabis Uni' live (through the App) means our evening educational courses can be shared and sold internationally — giving Whakamana an even bigger reach and voice.
As the cannabis legislation in this country changes, and the cannabis industry matures, there will be countless opportunities arising from cannabis business. Should the law change in 2020 to allow cannabis retail and /or consumption Whakamana will be perfectly placed to capitalise on these new opportunities.
There is also significant potential to use the Whakamana brand as an independent trust / quality mark for hemp and cannabis products.
SHARE OFFER
Ordinary, Class B & Investor shares will all be entitled to dividends by way of a distribution of retained earnings. Shareholders may also benefit from any capital gains as in the event that the value of the shares appreciates over time and there is a market for the shares.
1. Whakamana Museum ltd has a two-year stand-down policy of dividends as the sole focus is on growing the revenue streams and increasing the capital value of the shares.
2. The board will review this after two years without any commitment to issuing dividends.
CAPITALISATION TABLE
SHARE CLASSES
RISKS AND MITIGATIONS
NOTE FROM PLEDGEME
We have completed a Veda check on the company and their Directors, as well as a Google check. There were no adverse findings.
Updates 2
100k down
26/11/2019 at 11:54 AM
So much has been happening here at Whakamana!
We have made it to $100k!! We are so grateful to the 169 pledgers who have committed already and we need to push on to reach our goal of $1 million by the 16th of December.
Just over a week ago Michael and I were at the Canterbury A&P Show helping to educate and inform people about Cannabis and Whakamana as part of a joint stall with other cannabis advocacy groups. We had some great chats and it just reiterated how important it is to have public facing organisations dedicated to educating and informing people about cannabis. Many of the 'middle New Zealand' crowd heavily represented among the A&P Show attendees still need quite a bit of education!
Then I popped over to Brisbane to appear on Australia's up and coming cannabis themed podcast Friendly Aussie Buds and to activate potential kiwi investors living across the ditch. While there I also participated in a Facebook Live at the PledgeMe offices which you can watch here.
The Boutique Museum is now open downstairs in Shand's at 217 Manchester Street, with information about the crowdfunding offer and with some displays from the original Whakamana Museum in Dunedin - come in and see us if you haven’t already.
We have also had inspirational talks from Antione Tane Fitzgerald on building with Hemp and Rose Renton on her journey with medicinal cannabis. The video of Rose's presentation can be accessed on our Facebook page.
Additionally, members of the Garden City Rotary Club came along last week to a hemp dinner and information evening with Michael which was thoroughly enjoyed by all and a lot of great information shared.
Michael and I also hosted our first Facebook Live direct from Whakamana, which we plan to make a weekly event on Sundays at 4:20pm. Episode 1 can be seen here.
These are just a few examples of the high impact education and outreach that Whakamana can achieve in a few weeks without even having a budget yet! It just shows how important having a physical space for the headquarters of the New Zealand cannabis movement to coordinate and activate is.
Here are some additional upcoming events:
On Wednesday the 4th of December we have Canna Pampering Day
This event is presented by Bekah Hodgetts and Ottie Schwartz and features a range of fantastic hemp-based beauty and pampering treatments including canna-themed manicures, henna tattooing, and more! The format of the day will include an 15 minute introduction by one of the Whakamana co-founders including details on Whakamana's historic PledgeMe Campaign, followed by an opportunity to participate in a variety of beauty and pampering treatments, and then shared kai and networking. Get your tickets here - https://events.humanitix.co.nz/cannabis-matters-canna-pampering
Whakamana Hemp Food Week at Whakamana
When: Monday Dec 9 - Sunday Dec 15th
We will have nine participating chefs around Christchurch who will create their own signature hemp dish to showcase in their restaurant. The week will culminate in an Event on Sunday evening December 15th at Whakamana featuring all the dishes.
If you like what you've seen so far please continue on the journey with us and help us reach the goal of $1 million. If you haven't pledged already, please do. If you have, or once you have, please share our story and the links to the PledgeMe with everyone in your networks so that we make sure everyone has heard about what we are doing and we don't miss any potential opportunities.
Our first 50k
12/11/2019 at 1:59 PM
A big thank you to everyone to everyone who has pledged so far and everyone who attended our PledgeMe launch event last night. It was a wonderful evening and a great showcase of the true potential of Whakamana when it is really embraced by all of the networks that make Christchurch the wonderful community that it is.
And for the exciting news, we have reached our first $50,000 in pledges only 2 hours after going public!
We've had some great coverage of our evolution and a nice write up in The Christchurch Press (https://www.stuff.co.nz/business/117317669/new-cannabis-institute-keen-to-grow-hemp-on-vacant-central-christchurch-site) this morning, but still no pickup from the national news outlets (yet).
Also it has come to our attention that certain social media platforms have been censoring our content so we still really need everyone who has pledged already to share this campaign and our Facebook page (www.facebook.com/CannabisMuseum) with everyone in their networks so we can reach our goal as quickly as possible.
Thanks again so much for supporting our mission to make Kiwis the most cannabis literate people on the planet, and with your continued help we are confident of meeting our goal.
Sincerely,
Abe Gray
Details
Offer Details
| Current Valuation | 1,242,068 |
| Raise Minimum | 1,000,000 |
| Raise Maximum | 2,000,000 |
| Share Price | 1.00 |
| Maximum Shares Offered | 2,000,000 |
Explanation of valuation:
The valuation has been completed using future maintainable earnings approach with forecasted EBITDA using an assigned multiple from the first full trading year end 2021.
Allowing for a multiple of *4, ensures both the above objectives are met and the greater percentage of shares are held by the investors (assuming a maximum raise). Whakamana Museum Ltd is somewhat different to other companies who have raised equity on the basis that a viable business model could exist without the legalisation of cannabis. Legalisation would only enhance the company to be in the best position to grow into further revenue generating opportunities.
The Directors believe by valuing the shares based on a forecasted EBITDA multiple is a more conservative approach compared with other cannabis companies that apply a forecasted multiple of revenue which does not consider the forecasted profitability for investors.
Other crowdfunding raises have used revenue multiples of between 2 – 5. If Whakamana was to apply this approach it would value the shares at a much greater pre-raise $3.4m - $8.5m range compared with the $1,242,068 adopted valuation.
Financial Summary
| Prev Year | Current Year | Est. FY 2022 | Est. FY 2023 | |
|---|---|---|---|---|
| Revenue | NZ $0 | NZ $0 | NZ $1,702,953 | NZ $2,022,458 |
| Operating Expenses | NZ $0 | NZ $85,800 | NZ $1,026,603 | NZ $1,148,683 |
| EBITDA | NZ $0 | -NZ $85,800 | NZ $310,521 | NZ $441,260 |
| Net Profit | NZ $0 | -NZ $85,800 | NZ $168,759 | NZ $246,756 |
Company Details
Company Name: WHAKAMANA MUSEUM LIMITED
Company Number: 7469137
Company Documents
Director Details
| Name | Role | Profile URL | Invested? |
|---|---|---|---|
| Abraham Gabriel GRAY | Director | http://https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/7469137/directors | ✗ |
| Michael Edward John MAYELL | Director | http://https://www.linkedin.com/in/michael-m-mayell-2b16a6105/ | ✗ |
Questions 6
Ask a Question (You must login to ask a question)
Hi Guys. Great launch. How will allocation of Class B shares be determined, and what will their voting rights ratio be?
Posted on 12-11-2019 by Jason BriceHi Jason, the allocation of Class B shares has already been determined (as part of a process involving the co-creators who helped in developing the Christchurch museum). Class B shareholders have one vote per share, whereas ordinary shares (held by the founders) have two votes per share.
Answered on 13-11-2019 by Abe Gray
Hi Guys, well done few questions
Are you guys planning on offering shares or any form of recognition to the people or organisations who operated/created the Dunedin Museum, most giving up time, finances and expertise to make it happen.
Was Mr Gray a founder or a regular visitor? on many occasions absent or simply smoking out the back, unless a camera was around?
Was Mr Mayel a founder? of a organisation established 2013 in Dunedin when met in 2018?
founding friends shareholding? according to post raise but not according to companies office, again will these be founders or simply associates of Mr Gray?
think the founders are the hard working individuals Mr Gray fails to recognize not those who he feels are next in line to be fleeced.
Track record would also suggest caution with Legalise Cannabis Party, former charity volunteers and original business partners in Dunedin all left with similar bad taste after dealings with Mr Gray.
How can you guarantee similar wont be done again?
Hi James, thank you for your query, unfortunately you seem to be the victim of gross misinformation, let me respond to your concerns.
Yes we have offered shares to founding volunteers and donors of the original Whakamana Museum started in Caversham, South Dunedin in 2013. Some of those offered shares did not respond, some declined, but the many who accepted are included in the "35 Founding Friends" and we are awaiting these details of the shareholding to be updated by the Companies Office.
Mr. Mayell became involved with Whakamana in 2018 when he learned of the Dunedin Museum's existence and fell in love with cannabis legalisation activism and education. He has generously donated thousands of his own dollars and thousands of hours of his time to progress the growth of Whakamana for over a year now.
I (Abe) was involved with the Aotearoa Legalise Cannabis Party until I left the party to join The Opportunities Party at the 2017 election. While initially there was some friction within the Legalise Cannabis Party over this, that hatchet has long since been buried, mostly due to the overwhelming goodwill toward the Whakamana Christchurch Project. Whakamana and the Legalise Cannabis Party just spent 3 days campaigning together for the 2020 referendum at the Canterbury A&P show, and the Party regularly has meeting at Whakamana and attends Whakamana events.
Other than a few disgruntled Dunedin volunteers who had to be asked to leave for various reasons, I'm not sure who you are referring to? I hope this clears things up.
Answered on 18-11-2019 by Abe Gray
Hello. I have two questions if you don’t mind? This sounds like an amazing idea and I really hope that it succeeds. Cheers :)
1) What perks, if any will come with the investor badge?
2) What happens if this PledgeMe is (I hope not!) on the off chance unsuccessful?
Hi Zek, thanks for your questions,
1. The investor badge is a neat way to recognise all of our early investors who supported this PledgeMe campaign. There will only ever be one production of this badge so only people who participated in the PledgeMe at the relevant pledge level will ever have one. So in the future if you recognise the badge on someone you will know they are in the inner circle of early Whakamana supporters, and they will recognise the same about you when they see your badge. We imagine that this will lead to some great networking connections and peer-to-peer perks as the limited few early supporters go out of their way to assist and favour each other. We also plan to have periodic exclusive functions for investor badge holders and occasionally offer food and merchandise discounts to badge holders.
2. If the PledgeMe is unsuccessful we will have consider what scale for Whakamana going forward is actually warranted. As Whakamana is a social enterprise focused on educating and empowering people, our scale of activity and level of production is directly related to our available capital. So the scale at which we deliver our enterprise really depends on the financial appetite of the cannabis community in NZ. What we have offered here is a very ambitious vision and I too hope the community realises this once in a generation opportunity and we don't have to scale it back.
Answered on 22-11-2019 by Abe Gray
I am a permanent resident in New Zealand since 1982 !Can I buy shares?
Posted on 21-11-2019 by Dee CarlierThe answer is YES!!
Answered on 22-11-2019 by Abe Gray
How do i buy shares
Posted on 25-11-2019 by Ken JohnsonClick on the "Make a Pledge" button to the right of our video at the top of this page. If you are having trouble possibly try making sure you have followed all the instructions at this link https://guide.pledgeme.co.nz/how-to-invest . If you are still having trouble don't hesitate to get in touch with us or with someone from PledgeMe and we will be able to assist you.
Answered on 26-11-2019 by Abe Gray
Hi Guys,
You have no idea how excited I am, I back your plan and vision, the information provided has been very useful and Abe that last video about investing had alot more questions answered, but I have a few of my own:
1. If the minimum of $1M isnt reached in 4 days therefore no funds taken from pledgers, what will be the new close date next year for you to be able to reach $1M, or will Whakamana still withdraw funds either way?
2. Why do you think your pledge numbers are quite low, given the obvious ratio to NZ residents and NZ Residents Overseas, it seems very small meaning not much exposure or backing from every day people etc...
3. Are we allowed to know who the founding friends investors are?
Thanks
Chantelle #ISupportCannabisLegislation
Pledgers 299
2019-12-16 15:58:51 +1300
2019-12-16 15:52:35 +1300
"Looking forward to this investment and what it does for our people"
2019-12-16 13:43:50 +1300
2019-12-16 12:54:17 +1300
2019-12-16 12:21:22 +1300
2019-12-16 12:19:49 +1300
"\_(~u~)_/"
2019-12-16 09:48:02 +1300
2019-12-16 08:54:22 +1300
2019-12-16 08:51:46 +1300
2019-12-15 22:37:18 +1300
2019-12-15 20:08:29 +1300
2019-12-15 20:05:50 +1300
2019-12-15 18:47:07 +1300
2019-12-15 18:32:38 +1300
2019-12-15 18:14:51 +1300
2019-12-15 17:24:04 +1300
2019-12-15 16:47:58 +1300
"Great job, team! The world needs more visionaries like you."
2019-12-15 13:17:51 +1300
2019-12-15 13:03:56 +1300
2019-12-15 10:55:57 +1300
2019-12-15 09:55:45 +1300
2019-12-15 00:49:39 +1300
2019-12-14 21:26:35 +1300
"Way to go, guys! All the best with this amazing venture. Great to see the cannabis community in NZ growing."
2019-12-14 20:13:09 +1300
2019-12-14 10:16:51 +1300
"Best wishes :)"
2019-12-14 01:52:59 +1300
"Pardon my language but Fuck Yeah!"
2019-12-14 01:23:15 +1300
2019-12-14 00:05:52 +1300
"All for one and one for all"
2019-12-13 20:20:35 +1300
2019-12-13 18:27:21 +1300
"Awesome. Yes vote 2020"
Followers 86
Followers of Whakamana Museum Limited
Whakamana Museum Limited
Due to financial regulations shares in Whakamana through this PledgeMe campaign may only be purchased by; New Zealand residents, New Zealand citizens living overseas, or individuals who qualify as a wholesale investor. If you are overseas and you do not meet these criteria, you can still donate to Whakamana through New Zealand registered charity Seed The Change here: https://www.thegifttrust.org.nz/seed-the-change-whakamana (Seed The Change will receive the shares in Whakamana but you will still receive the applicable reward perk!).
INTRODUCTION
Whakamana Cannabis Museum was founded in Dunedin in 2013. The Museum was originally established to change the public perception of cannabis in New Zealand through public education and outreach. It evolved out of University campus cannabis legalisation activism as we sought a more effective way to communicate the science and facts surrounding the history and uses of cannabis, its harms, and the case for law reform.
After the fortuitous meeting of Abe Gray (founder of Whakamana) and Michael Mayell (founder of Cookie Time) at the inaugural iHemp Summit in July 2018, the plan to open Whakamana, the New Zealand Institute of Cannabis Education, Research and Development in Christchurch, New Zealand was hatched. This ambitious proposal builds upon what was achieved in Dunedin, and takes Whakamana even further, to advance Cannabis knowledge, acceptability, influence, and reach.
The Whakamana Cannabis Institute is centered around Cannabis Education with a planned world-class Museum during the day, morphing into a subscription based ‘University’ in the evening, and Plant-Medicine Shot Bar/alcohol-free Nightclub & events centre at night! All fully serviced by a custom App and catered to by a Hemp Food Eatery which will also have e-bike delivery. With adjacent space housing a co-working space and Networking Club, and subject to changes in legislation, a future dispensary or doctor’s office!
WHAKAMANA MEANING:
EMPOWERMENT, TO RESTORE THE MANA OF.
SHARE OFFER
Whakamana is undertaking an equity crowdfunding campaign to raise between $1million and $2million from New Zealand residents and New Zealand citizens overseas in eligble countries.
Not a New Zealand resident or NZ Citizen overseas? You can still donate to support our vision through Seed The Change: https://www.thegifttrust.org.nz/seed-the-change-whakamana
LOCATION AND FACILITIES
Whakamana has secured a lease 2020 - 2026 (+ 6× 5 year renewal rights, subject to raising the funds) for two of the oldest, most beautiful, and truly unique historic buildings in Christchurch, the now deconsecrated former Trinity Congregational Church (Trinity) and Shand’s Emporium (Shand’s), to house our vision of ‘the world’s best cannabis museum’.
Floor plan of proposed Whakamana exhibition, cafe and retail space inside Trinity
Our aim for the main exhibition space will be to house our museum exhibits, which we plan to design so they fold away at night to open the space for events and the nightclub! We also aim to have a hemp-based Café showcasing phytonutrients from food as a form of medicine, and a retail store selling relevant products and souvenirs. In addition, we aim to create a members-only social space that can be used for events and meetings, networking or just socialising. All products services and experiences will be conveniently available through our App.
OUR EXHIBITS
WE AIM TO DELIVER WORLD-CLASS INTERACTIVE DISPLAYS, EXHIBITS, AND EXPERIENCES ABOUT CANNABIS:
THE HISTORY OF THE PLANT AND THE PEOPLE THAT USE IT
THE BIOLOGY OF THE PLANT ITSELF INCLUDING THE DRUG (ESSENTIAL OIL OF CANNABIS)
THE INDUSTRIAL PRODUCTS FROM THE STEM AND SEEDS (HEMP)
THE BIOLOGY OF THE ENDOCANNABINOID SYSTEM
AND THE INDUSTRY THAT IS NOW DEVELOPING AROUND IT
OUR APP
The Whakamana App is the beating heart of our business. The aim of the App is to reduce operating costs and increase connection with our tribe through the rich features described below. We believe our App will streamline the scaling of our operations to additional locations in the future, and it also aims to enable a global reach through live streaming of our events.
The Whakamana App will be used to deliver what we hope will be an outstanding experience for our tribe — all aspects of our business will be accessed through the App including live broadcasting of our educational content around the world.
MARKET OPPORTUNITY
*Horizon + Helius Cannabis Referendum Study Jan 2019
We aim to be the first cannabis dispensary in New Zealand. Before Prohibition, cannabis (including hemp) was the most useful and economically viable commodity crop. With prohibition waning, it is returning to its rightful place in the botanical economic order.
USE OF CAPITAL
Funds raised through PledgeMe will be primarily used to:
- Occupy and help restore Shand's and Trinity
- Build the "Te Papa of Cannabis" museum exhibits
- Fit-out the commercial kitchen
- Fit-out the events centre
- Develop our App
ABOUT OUR TEAM
Abe Gray - Founder, Hempster, Curator, Scientist
Abe Gray is a botanist and science communicator with 20 years’ experience in the cannabis Industry. Originally from Minnesota, USA, he has lived most of his adult life in New Zealand where he gained his Bachelor and Master of Science degrees in Botany at the University of Otago in Dunedin. In 2013 he combined his 20 years of experience as a cannabis legalisation activist with his 15 years of experience as a tutor and guest lecturer in biology to found New Zealand’s first interactive cannabis educational experience, the Whakamana Cannabis Museum, in Dunedin. He is also the primary caregiver to his two children while his wife works as a surgeon. Abe lives in Christchurch and enjoys tramping, bike riding and bird-watching in his spare time.
Michael Mayell - Founder, Hempster, Social Entrepreneur, Evangelist
Best known for founding Cookie Time 37 years ago at the age of 21, today Michael is a social entrepreneur with 5 cannabis-hemp projects underway, as well as Drinkable Rivers in Our Life Time — a moonshot vision for New Zealand which will require farmers to swap cows for cannabis. He is especially passionate about hemp as a food, and cannabis as a plant-medicine. Hemp seeds are acknowledged as the planet’s most nutritionally complete food. Michael wants to see them become a new staple health food in Kiwi kitchens — reasoning that if we eat them, the demand created will encourage farmers to grow them — over time reducing the dependence upon cows, thereby beginning to restore balance to our rural ecosystems. Michael’s abundant enthusiasm, big out of the box thinking, cannabis knowledge and cannabis connections will ensure that Whakamana has a passionate front person inspired to make NZ the cannabis capital of the world, and Kiwi’s the most cannabis literate people on the planet.
Sally Papps - Museum Exhibits (Exhibition Design and Consultancy Ltd)
Sally has worked in the museum industry since 1994 across the fields of exhibition design, collection management, and art curation, with a focus on boutique museums and society projects. Sally brings a broad vision to the project at hand, using creative skills combined with an interest on the language of objects and a quirky sense of humour to create a unique museum experience.
Cam Sims - Chef (Plant Culture)
Cam has been dubbed the ‘Kiwi King of Cannabis Cuisine’. He will be designing hemp-based meals, snacks and drinks for our Hemp Food Eatery and Plant-Medicine Shot Bar.
Alex Prate - App Design (Realifex)
With 10 years of experience in cutting-edge and award-winning app designs (W3, Davey, and Webby Awards), Alex aims to create and deliver the Whakamana App as a meaningful, entertaining and unforgettable experience to onsite visitors and online users.
Taurus - Accountants
Taurus is committed to helping individuals and businesses reach their goals and prosper. Their approach is to provide clients with the best financial advice, offer well-researched opportunities, and at all times support it with the rigour of chartered accountancy to produce long term results.
Tim Sissons - Lawyer
Tim is our legal advisor. Tim has over 10 years experience advising new and developing businesses and enjoys working with startups.
Strategy Creative - Branding & Marketing
Powered by people, driven by purpose, Strategy is a creative agency with over 25 years’ experience in Christchurch and 6 studios across New Zealand, Australia and Japan. They believe in humanising brands through the power of creativity and collaboration.
WHAT WE'VE DONE SO FAR
Whakamana has established a high media profile and managed to maintain this visibility over the years. Whakamana is now a cult term for cannabis empowerment.
WHAKAMANA IS ONE OF THE LEADING CANNABIS CULTURE AND LIFESTYLE BRANDS IN NEW ZEALAND.
WHAKAMANA IS CURRENTLY THE ONLY CANNABIS BRAND IN NEW ZEALAND OFFERING THE UNIQUE COMBINATION OF EDUCATION, EXPERIENCES, MERCHANDISE, FOOD AND COMMUNITY.
STRATEGIC GROWTH PLAN
Both of our founders are committed to Whakamana for the long haul.
ONCE WE HAVE FIRMLY ESTABLISHED WHAKAMANA IN CHRISTCHURCH, WE WILL FURTHER EXPLORE THE FOLLOWING OPPORTUNITIES:
Expand the concept in the form of ‘minifranchises’. The App and customer base from Christchurch could be a huge selling point that could help 'Whakamana Centres’ and hemp Cafés flourish in cities and towns throughout New Zealand.
Streaming 'Cannabis Uni' live (through the App) means our evening educational courses can be shared and sold internationally — giving Whakamana an even bigger reach and voice.
As the cannabis legislation in this country changes, and the cannabis industry matures, there will be countless opportunities arising from cannabis business. Should the law change in 2020 to allow cannabis retail and /or consumption Whakamana will be perfectly placed to capitalise on these new opportunities.
There is also significant potential to use the Whakamana brand as an independent trust / quality mark for hemp and cannabis products.
SHARE OFFER
Ordinary, Class B & Investor shares will all be entitled to dividends by way of a distribution of retained earnings. Shareholders may also benefit from any capital gains as in the event that the value of the shares appreciates over time and there is a market for the shares.
1. Whakamana Museum ltd has a two-year stand-down policy of dividends as the sole focus is on growing the revenue streams and increasing the capital value of the shares.
2. The board will review this after two years without any commitment to issuing dividends.
CAPITALISATION TABLE
SHARE CLASSES
RISKS AND MITIGATIONS
NOTE FROM PLEDGEME
We have completed a Veda check on the company and their Directors, as well as a Google check. There were no adverse findings.
100k down
26/11/2019 at 11:54 AM
So much has been happening here at Whakamana!
We have made it to $100k!! We are so grateful to the 169 pledgers who have committed already and we need to push on to reach our goal of $1 million by the 16th of December.
Just over a week ago Michael and I were at the Canterbury A&P Show helping to educate and inform people about Cannabis and Whakamana as part of a joint stall with other cannabis advocacy groups. We had some great chats and it just reiterated how important it is to have public facing organisations dedicated to educating and informing people about cannabis. Many of the 'middle New Zealand' crowd heavily represented among the A&P Show attendees still need quite a bit of education!
Then I popped over to Brisbane to appear on Australia's up and coming cannabis themed podcast Friendly Aussie Buds and to activate potential kiwi investors living across the ditch. While there I also participated in a Facebook Live at the PledgeMe offices which you can watch here.
The Boutique Museum is now open downstairs in Shand's at 217 Manchester Street, with information about the crowdfunding offer and with some displays from the original Whakamana Museum in Dunedin - come in and see us if you haven’t already.
We have also had inspirational talks from Antione Tane Fitzgerald on building with Hemp and Rose Renton on her journey with medicinal cannabis. The video of Rose's presentation can be accessed on our Facebook page.
Additionally, members of the Garden City Rotary Club came along last week to a hemp dinner and information evening with Michael which was thoroughly enjoyed by all and a lot of great information shared.
Michael and I also hosted our first Facebook Live direct from Whakamana, which we plan to make a weekly event on Sundays at 4:20pm. Episode 1 can be seen here.
These are just a few examples of the high impact education and outreach that Whakamana can achieve in a few weeks without even having a budget yet! It just shows how important having a physical space for the headquarters of the New Zealand cannabis movement to coordinate and activate is.
Here are some additional upcoming events:
On Wednesday the 4th of December we have Canna Pampering Day
This event is presented by Bekah Hodgetts and Ottie Schwartz and features a range of fantastic hemp-based beauty and pampering treatments including canna-themed manicures, henna tattooing, and more! The format of the day will include an 15 minute introduction by one of the Whakamana co-founders including details on Whakamana's historic PledgeMe Campaign, followed by an opportunity to participate in a variety of beauty and pampering treatments, and then shared kai and networking. Get your tickets here - https://events.humanitix.co.nz/cannabis-matters-canna-pampering
Whakamana Hemp Food Week at Whakamana
When: Monday Dec 9 - Sunday Dec 15th
We will have nine participating chefs around Christchurch who will create their own signature hemp dish to showcase in their restaurant. The week will culminate in an Event on Sunday evening December 15th at Whakamana featuring all the dishes.
If you like what you've seen so far please continue on the journey with us and help us reach the goal of $1 million. If you haven't pledged already, please do. If you have, or once you have, please share our story and the links to the PledgeMe with everyone in your networks so that we make sure everyone has heard about what we are doing and we don't miss any potential opportunities.
Our first 50k
12/11/2019 at 1:59 PM
A big thank you to everyone to everyone who has pledged so far and everyone who attended our PledgeMe launch event last night. It was a wonderful evening and a great showcase of the true potential of Whakamana when it is really embraced by all of the networks that make Christchurch the wonderful community that it is.
And for the exciting news, we have reached our first $50,000 in pledges only 2 hours after going public!
We've had some great coverage of our evolution and a nice write up in The Christchurch Press (https://www.stuff.co.nz/business/117317669/new-cannabis-institute-keen-to-grow-hemp-on-vacant-central-christchurch-site) this morning, but still no pickup from the national news outlets (yet).
Also it has come to our attention that certain social media platforms have been censoring our content so we still really need everyone who has pledged already to share this campaign and our Facebook page (www.facebook.com/CannabisMuseum) with everyone in their networks so we can reach our goal as quickly as possible.
Thanks again so much for supporting our mission to make Kiwis the most cannabis literate people on the planet, and with your continued help we are confident of meeting our goal.
Sincerely,
Abe Gray
Offer Details
| Current Valuation | 1,242,068 |
| Raise Minimum | 1,000,000 |
| Raise Maximum | 2,000,000 |
| Share Price | 1.00 |
| Maximum Shares Offered | 2,000,000 |
Explanation of valuation:
The valuation has been completed using future maintainable earnings approach with forecasted EBITDA using an assigned multiple from the first full trading year end 2021.
Allowing for a multiple of *4, ensures both the above objectives are met and the greater percentage of shares are held by the investors (assuming a maximum raise). Whakamana Museum Ltd is somewhat different to other companies who have raised equity on the basis that a viable business model could exist without the legalisation of cannabis. Legalisation would only enhance the company to be in the best position to grow into further revenue generating opportunities.
The Directors believe by valuing the shares based on a forecasted EBITDA multiple is a more conservative approach compared with other cannabis companies that apply a forecasted multiple of revenue which does not consider the forecasted profitability for investors.
Other crowdfunding raises have used revenue multiples of between 2 – 5. If Whakamana was to apply this approach it would value the shares at a much greater pre-raise $3.4m - $8.5m range compared with the $1,242,068 adopted valuation.
Financial Summary
| Prev Year | Current Year | Est. FY 2022 | Est. FY 2023 | |
|---|---|---|---|---|
| Revenue | NZ $0 | NZ $0 | NZ $1,702,953 | NZ $2,022,458 |
| Operating Expenses | NZ $0 | NZ $85,800 | NZ $1,026,603 | NZ $1,148,683 |
| EBITDA | NZ $0 | -NZ $85,800 | NZ $310,521 | NZ $441,260 |
| Net Profit | NZ $0 | -NZ $85,800 | NZ $168,759 | NZ $246,756 |
Company Details
Company Name: WHAKAMANA MUSEUM LIMITED
Company Number: 7469137
Company Documents
Director Details
| Name | Role | Profile URL | Invested? |
|---|---|---|---|
| Abraham Gabriel GRAY | Director | http://https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/7469137/directors | ✗ |
| Michael Edward John MAYELL | Director | http://https://www.linkedin.com/in/michael-m-mayell-2b16a6105/ | ✗ |
Ask a Question (You must login to ask a question)
Hi Guys. Great launch. How will allocation of Class B shares be determined, and what will their voting rights ratio be?
Posted on 12-11-2019 by Jason BriceHi Jason, the allocation of Class B shares has already been determined (as part of a process involving the co-creators who helped in developing the Christchurch museum). Class B shareholders have one vote per share, whereas ordinary shares (held by the founders) have two votes per share.
Answered on 13-11-2019 by Abe Gray
Hi Guys, well done few questions
Are you guys planning on offering shares or any form of recognition to the people or organisations who operated/created the Dunedin Museum, most giving up time, finances and expertise to make it happen.
Was Mr Gray a founder or a regular visitor? on many occasions absent or simply smoking out the back, unless a camera was around?
Was Mr Mayel a founder? of a organisation established 2013 in Dunedin when met in 2018?
founding friends shareholding? according to post raise but not according to companies office, again will these be founders or simply associates of Mr Gray?
think the founders are the hard working individuals Mr Gray fails to recognize not those who he feels are next in line to be fleeced.
Track record would also suggest caution with Legalise Cannabis Party, former charity volunteers and original business partners in Dunedin all left with similar bad taste after dealings with Mr Gray.
How can you guarantee similar wont be done again?
Hi James, thank you for your query, unfortunately you seem to be the victim of gross misinformation, let me respond to your concerns.
Yes we have offered shares to founding volunteers and donors of the original Whakamana Museum started in Caversham, South Dunedin in 2013. Some of those offered shares did not respond, some declined, but the many who accepted are included in the "35 Founding Friends" and we are awaiting these details of the shareholding to be updated by the Companies Office.
Mr. Mayell became involved with Whakamana in 2018 when he learned of the Dunedin Museum's existence and fell in love with cannabis legalisation activism and education. He has generously donated thousands of his own dollars and thousands of hours of his time to progress the growth of Whakamana for over a year now.
I (Abe) was involved with the Aotearoa Legalise Cannabis Party until I left the party to join The Opportunities Party at the 2017 election. While initially there was some friction within the Legalise Cannabis Party over this, that hatchet has long since been buried, mostly due to the overwhelming goodwill toward the Whakamana Christchurch Project. Whakamana and the Legalise Cannabis Party just spent 3 days campaigning together for the 2020 referendum at the Canterbury A&P show, and the Party regularly has meeting at Whakamana and attends Whakamana events.
Other than a few disgruntled Dunedin volunteers who had to be asked to leave for various reasons, I'm not sure who you are referring to? I hope this clears things up.
Answered on 18-11-2019 by Abe Gray
Hello. I have two questions if you don’t mind? This sounds like an amazing idea and I really hope that it succeeds. Cheers :)
1) What perks, if any will come with the investor badge?
2) What happens if this PledgeMe is (I hope not!) on the off chance unsuccessful?
Hi Zek, thanks for your questions,
1. The investor badge is a neat way to recognise all of our early investors who supported this PledgeMe campaign. There will only ever be one production of this badge so only people who participated in the PledgeMe at the relevant pledge level will ever have one. So in the future if you recognise the badge on someone you will know they are in the inner circle of early Whakamana supporters, and they will recognise the same about you when they see your badge. We imagine that this will lead to some great networking connections and peer-to-peer perks as the limited few early supporters go out of their way to assist and favour each other. We also plan to have periodic exclusive functions for investor badge holders and occasionally offer food and merchandise discounts to badge holders.
2. If the PledgeMe is unsuccessful we will have consider what scale for Whakamana going forward is actually warranted. As Whakamana is a social enterprise focused on educating and empowering people, our scale of activity and level of production is directly related to our available capital. So the scale at which we deliver our enterprise really depends on the financial appetite of the cannabis community in NZ. What we have offered here is a very ambitious vision and I too hope the community realises this once in a generation opportunity and we don't have to scale it back.
Answered on 22-11-2019 by Abe Gray
I am a permanent resident in New Zealand since 1982 !Can I buy shares?
Posted on 21-11-2019 by Dee CarlierThe answer is YES!!
Answered on 22-11-2019 by Abe Gray
How do i buy shares
Posted on 25-11-2019 by Ken JohnsonClick on the "Make a Pledge" button to the right of our video at the top of this page. If you are having trouble possibly try making sure you have followed all the instructions at this link https://guide.pledgeme.co.nz/how-to-invest . If you are still having trouble don't hesitate to get in touch with us or with someone from PledgeMe and we will be able to assist you.
Answered on 26-11-2019 by Abe Gray
Hi Guys,
You have no idea how excited I am, I back your plan and vision, the information provided has been very useful and Abe that last video about investing had alot more questions answered, but I have a few of my own:
1. If the minimum of $1M isnt reached in 4 days therefore no funds taken from pledgers, what will be the new close date next year for you to be able to reach $1M, or will Whakamana still withdraw funds either way?
2. Why do you think your pledge numbers are quite low, given the obvious ratio to NZ residents and NZ Residents Overseas, it seems very small meaning not much exposure or backing from every day people etc...
3. Are we allowed to know who the founding friends investors are?
Thanks
Chantelle #ISupportCannabisLegislation
Followers of Whakamana Museum Limited
2019-12-16 15:58:51 +1300
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"Looking forward to this investment and what it does for our people"
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"\_(~u~)_/"
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"Great job, team! The world needs more visionaries like you."
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"Way to go, guys! All the best with this amazing venture. Great to see the cannabis community in NZ growing."
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"Best wishes :)"
2019-12-14 01:52:59 +1300
"Pardon my language but Fuck Yeah!"
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"All for one and one for all"
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"Awesome. Yes vote 2020"
I want to embed this investment somewhere
