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Dooma Wendschuh Founders Update August 3, 2018
 
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This week we met with several investment banks about joining the syndicate for our next raise. As you may know we are preparing for our next raise which will be our go public raise. Paradigm Capital will be underwriting the raise but we will need several banks to join the syndicate. There has been a tremendous amount of interest from these meetings and we are so thrilled to see interest from these banks. We should be announcing which banks will participate in the syndicate in the coming weeks.

On another note we have been making great progress towards our goals in the product team. We are all really pleased with the amazing job Ryan Naphin has been doing in managing that team and keeping everything moving in the right direction.

Oscar J-T Holm Founders Update August 3, 2018
 
 

The global interest for Province Brands is still really strong and new interview requests from all around the world keep coming in as well as news articles and social media interest. This really fun and great for us. On the PR side we are working on a plan so that we can announce new exciting things throughout the fall.

Dooma Wendschuh Founders Update July 27, 2018
 

Seth Meyers made a fun mention of “Canadian scientists” brewing beer from cannabis last week. We’re pretty sure he was talking about us!

 

I could not be more proud of Elad Barak, Julia Romansky, Andrew DelFatti, and Meghan Lenko who helped us close our Series A round. We brought in a bit over $10,000,000 in this round and will announce the final amount once the remaining wire transfers trickle in early this week. These funds will help us build out our plant and purchase the equipment, but we'll need to raise a lot more to complete construction on the facility. I also want to thank all of you who participated in this round. We're so excited to have you along for the ride. Thanks for believing in us and thanks for your support.

Oscar J-T Holm Founders Update July 27, 2018
 
 

Right now there is a shortage of aluminum cans according to all of the premium can suppliers that we have spoken to in Canada. There is about a 4-5 month of delay in production, which means that the total production time is approximately 6 months. We have known this for quiet a while, so we have we just finalized the design of our bottle. The bottles will begin printing now and will have a production time of about 3 months if everything goes correctly.

Dooma Wendschuh Founders Update July 20, 2018
 
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It has been a crazy week for Province. The article that came out from the Guardian has gone viral and the interest has been insane. Today I did two interviews for the BBC (listen below) and one for ABC. The inbound interest has been absolutely amazing and unexpected. We're so excited to see so many folks responding to the work we're doing here at Province Brands. Thank you so much for your support and hard work making this dream come true. 

Oscar J-T Holm Founders Update July 20, 2018
 
 

Lots of things going on as usual. In the marketing and art department we have had some curve balls thrown at us due to some last minute changes on the bottle size for our Cambridge Bay pilsner. We worked very hard to try to both maximize the label print look and feel as well as making it compatible with our outsourcing brewery’s production line.

Jennifer Dianne Thomas Founders Update July 20, 2018
 
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Team morale is something I am consistently focused on. This focus comes as a result of a deep conviction that as a start-up we can’t take for granted one person, because we depend so heavily on every person working at Province. I like to think of these kind of relationships as an exchange - you give as much as you receive - and that means the more you have to give the more you can take without becoming a user of people. We depend on everyone on the team so much that it is important for us as founders to make sure that the our team members are also getting what they need from the exchange. We want a well balanced equation. 

So what does all of this mean in practice? It means that occasionally we as leaders have to stop and assess what employees need to thrive in their roles. Lately, this has manifested itself in an update of our HR policies. Soon it will be reflected in the updated computer systems. The team is even going to axe-throwing this week as corporate development activity! 

We welcome your ideas as investors on how to keep a well-balanced equation.  

Dooma Wendschuh Founders Update July 13, 2018
 
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This has been a great week for Province Brands. Not only did we file our patent application, but after some due diligence, we closed an investment of $5 million in our current Series A round from Still Meadow Holdings. We are truly honored to have them on board. 

I should mention that our final international PCT patent application is available if anyone wants to review it. Just send me an email at dooma@provincebrands.com, and I will send you a draft. I am really proud of the phenomenal work that Erin Johnson, Rob Kevwitch, Jason Copan, Dallas Bonner, Robin Neri, and Jennifer Thomas did to get this done on time. I am really proud of the patent. 

I am also proud to be running a company worthy of such a substantial investment from a company like Still Meadows Holdings. Elad Barak, Julia Romanski and the whole business development team did a great job ensuring we closed the investment. I expect we are just a few weeks away from closing our current round. Then we will really have something to celebrate.

Jennifer Dianne Thomas Founders Update July 13, 2018
 
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Our Business Development and Fundraising Team is always working hard, but this week I have to commend them and their hard work on closing a few large investors. We rarely stop to recognize milestones because there is always a new mountain to climb, but I would like to acknowledge what a great job the team is doing.

Oscar J-T Holm Founders Update July 13, 2018
 
 

Finding the right management style in a startup where everyone constantly is under enormous amount of stress can be really difficult. We have had a lot of internal discussion within the management team this week and are working on ways to create a great workplace where everyone can strive to there personal best.

In the marketing department, we have mainly been working on dry goods and getting lots of quotes as well as building relationships with our potential suppliers.

Dooma Wendschuh Founders Update July 6, 2018
 
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This week we have been scrambling to complete our patent application and lock in the location for the brewery so we can begin construction. Last week we received an unfavorable report from an engineer and we may not be able to set up in Nova Scotia as we had previously planned. We are exploring an option in Ontario near Toronto.

Oscar J-T Holm Founders Update July 6, 2018
 
 

It is not easy to try to change the world, but I have a good feeling that everyone at Province Brands is trying to their best!

In regards to the marketing team, we have made some great progress with a bunch of different suppliers of dry goods, and I am proud to say that we have small but really well oiled team right now.

Dooma Wendschuh Founders Update June 29, 2018
 
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This was a stressful week for us at Province. The engineering reports from the building we've been looking at in Nova Scotia came back pretty unfavorably. Meaning, the cost to retrofit the building would be substantially more than we originally anticipated. Our option agreement on our signed offer to lease expires the 18th of July, so we're sort of reevaluating and considering options. Feedback and suggestions welcome. Many of you have experience in real estate and we'd love your guidance.

On another note, we have had some tremendous progress on fundraising... so we'll hopefully making some announcements soon.

Oscar J-T Holm Founders Update June 29, 2018
 
 

If there is one thing that I have learned as a entrepreneur after all these years it is this: when making decisions, being flexible and being ready to change as the landscape around you develops is the real key to success. It is very easy to over analyze things, especially when no one has a clue what information will and can come next.

I am proud to say that this ability is something that we are getting better at, and, in my opinion, this is a brilliant step in the right direction for our company.

Dooma Wendschuh Founders Update June 22, 2018
 

Dooma featured on The Globe and Mail

 

This week we signed a deal with Paradigm Capital to underwrite our Going Public raise. We chose Paradigm after meeting with many, many banks because while they are new to the cannabis space, they are one of the top banks in Canada when it comes to raising capital for the beer industry. We felt that Paradigm’s investors would not be overloaded with cannabis deals and ours was likely to stand out. More importantly, we felt that their expertise in and coverage of Canada’s craft beer industry would help them explain our offering in terms their investors and others would understand. Paradigm will not be the only bank in our go public raise. Working with Paradigm, we will create a syndicate of banks who will help with this raise. Since Paradigm is stronger with institutional investors, we will focus on finding banks with a strong retail book to help round out the round.

This week we also signed a strategic alliance with Element GP and publicly announced our plans to not just launch the world’s first beers brewed from the cannabis plant but also to launch a line of infused beers – basically nonalcoholic barley beers which are infused with a marijuana oil. Most of you have read our business plan and recall that our “Yandi Gold” is one such product, so this is not a surprise to you, but we had never announced this publicly. Element is a cannabis oil extraction company which makes premium cannabis oils. Their founder, Christopher Lecky had previously launched Canada’s first and best selling super-premium Vodka, Pur Vodka. He also created a super-premium gin called Romeo’s Gin which has done phenomenally well. We know that with Chris’s attention to detail and focus on quality we will be in good hands using some of their oils to make our beverages. Of course we will also extract our own cannabis oil – and the deal is non-exclusive, so we can work with others.

Additionally, this week we have come a lot closer to signing a final lease on the building in Nova Scotia. We’re just waiting for a final visit with the engineers which is taking place next week. To be clear, if their findings are negative we will not proceed with the building, but we’re very hopeful everything will work out okay.  Also on the fundraising front, we have made a lot of progress an we have some very substantial commitments from some really legitimate players – a few since we presented at the DC Finance events in London and Israel in the past few weeks. We are moving forward quickly on some new hires, and I will be attending the International Cannabinoid Research Society Conference in Leiden, Netherlands with Dr. Erin Johnson and our recruiter Raymond Navis. A primary goal of this trip is to recruit top scientific talent.

Oscar J-T Holm Founders Update June 22, 2018
 
 

Lots of things are happening in the Marketing Team. I am proud to say that our team is delivering well and it feels that we are on par for where we should be. Personally, I have been working on everything from interviewing potential candidates for various positions, creating and presentations as well as fundraising, etc.

Jennifer Dianne Thomas Founders Update June 22, 2018
 
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I had my first (short) vacation in almost two years. I think sometimes we forget how much you need to take a break to maintain your stamina to continue to keep up the pace. No time off  impacts health, our relationships, our personal well being and adds stress. I feel rejuvenated, and I am really glad that I took some time for family.  

We have unlimited vacation at Province and often these kinds of policies result in employees taking less time off. So our leadership team is trying to set a good example to take care of ourselves. Check out this article on the topic. It helped inform my knowledge about unlimited vacation.

Dooma Wendschuh Founders Update June 15, 2018
 
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Thanks to everyone who wrote in with feedback on the demolition issues I brought up in last week's updates. We are expecting more quotes this week and hopefully some of them will be for less. One of you pointed out that the quote we got is more or less on par with what should be expected, and I'm kind of embarrassed I don't have the experience to understand how expensive this kind of demolition can be.

This week Elad Barak and I are in Israel. We presented at the DC Finance investment event in Tel Aviv and received substantial interest. We're hopeful that with interest from this event as well as all the other exciting things happening we will be able to close the round pretty soon. 

This has also been a busy week for some of our other teams. The deadline for completing revisions to our provisional patent application in time for filing for the actual patent is coming up very soon so our science team is really busy completing tests and making the patent application as perfect as possible. We only get one shot and we want to make sure this patent application is approved. We've also been hard at work getting estimates for the building construction and demolition and also selecting equipment. In addition, we've been interviewing some new employees. We have a lot of balls in the air right now, and we need to keep focus on the critical path and execute. It's time to stop thinking about it, stop talking about it and just do it.

Oscar J-T Holm Founders Update June 15, 2018
 
 

Our team is still working on the product development of Cambridge Bay. There are a lot of hurdles to jump in order to follow all the the rules and regulations for our first alcohol product which is a imperial pilsner. This week we have also been working hard on trying to grow all our social media channels as they are a important part of our marketing mix.

Dooma Wendschuh Founders Update June 8, 2018
 
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At Province we believe in a radical form of transparency and that means sharing the good news and the bad news with our shareholders. My philosophy on sharing bad news is that it's better that our shareholders hear it from us than from someone else. We had lots of good news this week, including the prospect of a substantial investment from a major strategic investor - but the bad news we received was that the building we have signed a term sheet to lease is going to be much more expensive to occupy than we thought.

We knew we needed to clean some of the prior user's stuff out, but the first demolition estimate we received came back at $1.8 million and up to 6 months to complete. Also in this scenario, the demolition company was planning to keep all of the materials and keep the profit from selling the copper, stainless steel, etc. That would be prohibitive for us. We're still awaiting other quotes and looking for alternate solutions, but I wanted to share this in the event that anyone with similar experience might be able to provide us with their thoughts and advice on how to get around a massive demolition bill. Please feel free to drop me an email, or call me. I'm in Israel and London this week speaking at conferences with Elad Barak so please be mindful of the time difference if you call. Thanks again for all your support and thanks in advance for any advice you may have.

Oscar J-T Holm Founders Update June 8, 2018
 
 

This is the first week that Kimberly has worked full-time in the marketing department. She has already proved to be a brilliant asset for our team. A lot of work is still going on with fundraising, brand development, etc. 

I hope you all have had a chance look trough some of brilliant press we have received lately.

Dooma Wendschuh Founders Update June 1, 2018
 
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I am proud of the accomplishments of our fundraising team in the past few weeks. We are getting much closer to closing our current round. Also, I'm excited by the interest we are getting from multiple parties in our future going public round. The Business Development and Fundraising Team is really doing a great job. I also wanted to thank our Legal and Finance Team, and especially Wiehahn, who has been working tirelessly to get our lease done now that we have a countersigned offer to lease from our (likely) future landlord. Lastly, Erin from our product team has been out to the building and she doing a great job overseeing the quotations we are getting related to the construction.