Posts in Dooma Wendschuh
Dooma Wendschuh Founders Update November 9, 2018
 
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A major focus over the past several months has been hiring. Now that we have Marija Desnoyers on our team as our head of HR, we have made some great progress and really rounded out our team. However, we are still struggling to close some of our most important roles. We've been looking for a president for quite a long time. Someone who has experience and expertise in entrepreneurial ventures and who knows how to start and run companies. Someone who has successfully raised substantial funding for past businesses and who understands capital markets, investor relations, and knows how to manage and run a team. We're also looking for support in our Business Development and Fundraising Team. If you know anyone who might be suitable for either of these positions, please let me know.

In other news, this week the company made some great progress on our production trials, and our new engineer, Colin, made substantial headway in planning the production systems we need for the brewery. We also received some of the equipment we have ordered for our facility.

Dooma Wendschuh Founders Update November 2, 2018
 
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We’re still working on raising our Series B funds. This week we participated in the Hong Kong Cannabis Investor Symposium as well as the DC Finance even in Toronto. In addition, part of our team met with some promising prospects in Kuwait.  

Another prime focus for this past week has been preparation for a major institutional investor who will be visiting Canada to tour our facilities, lab, and office. All of our departments have been working diligently to make sure that everything runs smoothly and successfully. 

Lastly, we were very excited to send out our press release regarding our alcohol product, Cambridge Bay. You can read it here

Dooma Wendschuh Founders Update October 26, 2018
 
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I've been on the roadshow this week. Since we started this roadshow three weeks ago, Elad has been in Japan, Phnom Penh, and Geneva (with Oscar as well), and, I've been in London, New York Montreal, Toronto, Vancouver, Singapore, Phnom Penh, Dubai, Hamburg, Istanbul, London (again) and Hong Kong. We've met with some interesting institutions, high net worth individuals and family offices. We've also met with several major alcohol companies. One in particular seems very interested in working with us.

Leaving that meeting I was so proud of what our team at Province has accomplished and could not believe that after just two years we've come to the place where we can attract serious interest and elicit serious discussions from one of the world's top global adult beverage brands. That is something we can be proud of.

The round may be coming together a bit slower than we had hoped, but at least it's coming together and in a market like we've seen lately (cannabis stocks are plummeting following Canada's legalization - you know what they say buy on rumor and sell on news) that's also something to be proud of.

Dooma Wendschuh Founders Update October 19, 2018
 
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We’re continuing our efforts to raise money for Series B. There is a lot of interest from around the world - I’ll be traveling to Dubai, Germany, and Japan in the next few weeks - but it is likely that we will be extending the round a bit in order to meet our goal.

We’ve got exiting news regarding our future brewing facility in Grimsby: We’ve moved in! The offices are up and running and Toronto team has begun working there. We’re also approved for demolition, so the construction of our lab and brewery can get started soon.

Dooma Wendschuh Founders Update October 12, 2018
 
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This week is week two of of what has turned into a three week roadshow for our current round. The response seems to have been very strong, and we are excited to hopefully wrap the round up soon. Next week Elad and I will be in Singapore (Tuesday); Phnom Penh, Cambodia (Wednesday); and Tokyo, Japan (Thursday and Friday). If there are any prospective investors in any of those cities you think we should meet please send their information our way.

Also, we have some new team members starting this week. Marija Desnoyers is our new human resources manager. We’re so happy to have her on board and know that her expertise will help us to make more great hires. We also welcome Masa Song, who will be our new marketing intern. Look for her Team Spotlight next week.

Dooma Wendschuh Founders Update October 5, 2018
 
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Our roadshow continued this week as I spent time in both New York and Vancouver. I have had many promising meetings and found that there is a lot of interest in our Series B round. We will continue on the road for the next two weeks, visiting Singapore, Japan, and Cambodia. If you have any suggestions for people that we should meet with, please let us know.

Dooma Wendschuh Founders Update September 21, 2018
 
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This week Oscar, Elad, and I attended the Kahner Global Private investment summit in New York, as well as the Arcview Group Investor Forum in Chicago, and then the Extraordinary Future event in Vancouver. While we are not officially raising capital at this time we collected a lot of names for when we kick off our round later this week.

The response was truly phenomenal. I have heard the expression "right place at the right time" before. I have even used that expression myself in the past, but I have never felt it in my soul the way I feel this now. By creating our own process to brew a beer from cannabis we have not just created an entirely new brewing tradition we have also created something the world deeply wants and the industry needs. The world is changing and we are out in front of that change. I could not be more excited to launch our next finding round and to build the world's first cannabis brewery.

News like this is going to keep coming out and fueling the fire which is paving the way for Province's future.

Dooma Wendschuh, AllDooma Wendschuh
Dooma Wendschuh Founders Update September 14, 2018
 
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This week has been a whirlwind. We’re preparing for our $30 million Series B round and also preparing for our public listing. We will send around our new business plan and other information for this round shortly. We can't wait to hear your thoughts. We have finalized the syndicate of banks who will be helping us with this raise. It will be Paradigm Capital, Clarus Securities and PI Financial. Off to the races.

Dooma Wendschuh, AllDooma Wendschuh
Dooma Wendschuh Founders Update September 7, 2018
 
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This week we’ve been working hard to prepare all of the materials and logistics needed for our “roadshow.” We’ll be hitting several cannabis conferences over the next few weeks. We’ll be presenting at the Cannabis Private Investment Summit in New York on September 13th. We will also be presenting at the Arcview International Investor Forum in Chicago taking place September 16th-18th. Finally, we’ll be at the Extraordinary Future conference in Vancouver September 19th & 20th. We hope to see some of you at these events. We’ve done some great work updating our business plan and marketing materials and are looking forward to sharing them with you.

We’re also very happy to welcome Erin Shand to our team. Erin is my new executive assistant. She has a wealth of experience from various fields and is going to be a great asset to our team.

Dooma Wendschuh, AllDooma Wendschuh
Dooma Wendschuh Founders Update August 31, 2018
 
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This week we received comments to lease from the landlord at 270 Hunter Road in Grimsby. We hope to complete negotiations and have this signed very quickly. We've already submitted the deposit to the landlord. We've received an estimate from the engineers to commence the plans. They're ready to go. We're locked and loaded and should have a building soon. 

Also this week we received an accepted offer from Natalia Murataeva, a Ph.D. neurobiologist with more than 10 publications in well known peer reviewed journals. She will start with us in October and will steward the development of our Ultra Premium Products. Welcome aboard!

Dooma Wendschuh Founders Update August 24, 2018
 
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The big news this week is that we have a building. We'll be moving into 270 Hunter Road in Grimsby, Ontario, soon. The building is 123,000 SF and in a great location in Canada's equivalent of Napa Valley. It's also very close to the USA which should have some benefits when it comes to shipping. We'll be moving in the next few weeks. Greg from our Product Team is taking the lead on the construction, demolition, etc. It's time to rock and roll and start making some beer. In other news, I've spent most of my time this week preparing our business plan for our going public offering. It should be done soon. Can't wait to hear your thoughts

Dooma Wendschuh Founders Update August 17, 2018
 
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The Business Development and Fundraising Team is starting to feel the pressure as we prepare for our Series B raise where we will raise around $30 Million. We already have some very firm commitments for this raise from a few key institutions. All we need now is to put together the business plan and term sheet, wrap up the syndicate, and finish the financial model. It's a lot of work to do, and not enough time in which to do it.

Also this week, we made a few offers to some potentially amazing new team members. We will let you know if they accept.

Perhaps most importantly, this week we had a phenomenal meeting with one of the world's largest spirits brand. They seem extremely interested in working with us, and we are already working on follow-up. Oscar is taking the lead on following up with them and will provide updates. I want to especially thank Province Brands Co-Founder Tarek Tabsh and Province Brands Advisor Gavin Sathianathan who helped set up the meeting and were phenomenal in the room. Fingers crossed.

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.

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.

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. 

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.

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.

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.

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.

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.

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.

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.