Posts in Business & Fundraising
Business Development & Fundraising Team Update August 3, 2018
 
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THIS WEEK’S UPDATE

  • Closed Series A, and opened Series A2 to allow investments to reach the original over-subscription (15%, which is $11,500,000). Series A2 will carry 8% interest rate and 20% discount rate
  • Met with three investment banks that are interested in joining our syndicate.
  • Started preparing a new business plan and financial model for the going public round.
  • Had an initial discussion with an IR firm to assist with the business plan. 
  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year

LOOKING FORWARD

  • Continuing to raise Series A2, have a few meetings\calls set with potential investors looking to join.
  • Decide which IBs we would like to include in our syndicate.
  • Work on the business plan, and have a kick-off meeting with an IR firm.
  • Meet with Paradigm for initial review of our financial model and updating it to the going public round.
  • Continue working on potential contracts with breweries and co-packers

THINGS WE NEED HELP WITH

  • As we prepare for the going public round, any feedback about our business plan or financial model would is welcomed.

Business Development & Fundraising Team Update July 27, 2018
 
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THIS WEEK’S UPDATE

  • Proud to share that we have reached our goal of raising $10m and closed Series A! Thank you all for the support
  • Set a meeting with three investment banks that are interested to join our syndicate.
  • Met with one of Canada’s leading craft breweries
  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year

LOOKING FORWARD

  • Open a Series B round to allow the “over subscription” from Series A without the cap.
  • Meet with investment banks to form our syndicate
  • Continue working on potential contracts with breweries and co-packers
  • After a few hectic months, the business development team will devote time to get prepared and plan the going public transaction.

THINGS WE NEED HELP WITH

  • Still haven't found the right candidate for the Business Development and Fundraising Team, if you know someone that would like to join, we would love to get in touch.

Business Development & Fundraising Team Update July 20, 2018
 
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THIS WEEK’S UPDATE

  • Continued raising Series A, more than $1m commitments in one week
  • Set a meeting with one of the big IBs, to join our syndicate.
  • Structuring our Greece subsidiary, we are working together with legal and our Greece partners to set the terms.
  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year

LOOKING FORWARD

  • Follow up with all the interested investors looking to join team Province.
  • Talking with additional investment banks to join our syndicate
  • Continue working on potential contracts with breweries and co-packer
  • Closing Series A, convertible note, and opening Series B

THINGS WE NEED HELP WITH

  • The Business Development and Fundraising team is expanding, if you know people that would like to join, we would love to get in touch.

Business Development & Fundraising Team Update July 13, 2018
 
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THIS WEEK’S UPDATE

  • Secured a $5m investment from a VC firm
  • Reached out to a few of the investment banks and started receiving interest in joining our syndicate for the RTO
  • Working on our license in Greece
  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year

LOOKING FORWARD

  • After raising ~$7.5m (and adding a cap to the terms), we will close Series A round and open a Series B round with similar terms (without the cap) for the $2.5m that is left
  • Talking with additional investment banks to join our syndicate
  • Continue working on potential contracts with breweries and co-packer 

THINGS WE NEED HELP WITH

  • As we are closing Series A round, if you (or someone you know) wants to join this round, please reach out as soon as possible

Business Development & Fundraising Team Update July 6, 2018
 
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THIS WEEK’S UPDATE

  • Continued to raise Series A, with great traction from both individuals and investment banks
  • Reached out to a few of the investment banks and started receiving interest in joining our syndicate for the RTO
  • Last steps in the due diligence from a VC firm, as well as continuing due diligence with a large LP
  • Working on our license in Greece
  • Continued conversations with few breweries\LPs regarding co-packing and white labeling
  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year

LOOKING FORWARD

  • Focus on the due diligence process to progress a few big investments in the Series A round.
  • After signing a lead investment bank, we will now focus on building our syndicate for the going public round.
  • Continue raising Series A

THINGS WE NEED HELP WITH

  • We are working on the white label and co-packing deals. Would be great to receive more leads, as well as support from investors with experience in such deals.

Business Development & Fundraising Team Update June 29, 2018
 
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THIS WEEK’S UPDATE

  • Continued to raise Series A, with great traction from both individuals and investment banks
  • Reached out to a few of the investment banks and started receiving interest in joining our syndicate for the RTO
  • Continuing due diligence with a large LP, as well as a big investor we met in London. Both are interested in joining the Series A round
  • Working on our license in Greece
  • Followed up with all of the potential partners and investors we met in London and Israel.
  • Continued conversations with few breweries\LPs regarding co-packing and white labeling
  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year

LOOKING FORWARD

  • Focus on the due diligence process to progress a few big investments in the Series A round.
  • After signing a lead investment bank, we will now focus on building our syndicate for the going public round.
  • Continue raising Series A

THINGS WE NEED HELP WITH

  • We are working on the white label and co-packing deals. Would be great to receive more leads, as well as support from investors with experience in such deals.
Business Development & Fundraising Team Update June 22, 2018
 
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THIS WEEK’S UPDATE

  • Continued to raise Series A, with great traction from both individuals and investment banks
  • Signed an engagement letter with Paradigm Capital, an investment bank, to lead the going public process.
  • Presented in DC Finance event in London and received tremendous interest from local investors
  • Began due diligence with a large LP, that has shown interest in joining the Series A round
  • Working on our license in Greece
  • Talking with Provincial Government for financial grants to support Province’s new brewery

LOOKING FORWARD

  • Follow up with all of the potential partners and investors we met in London and Israel.
  • Two funds we met in Tel Aviv and London have asked to start a due diligence process before investing. We are now in the process of talking with three large investors.
  • Started conversations with few breweries\LPs regarding co-packing and white labeling
  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year
  • After signing a lead investment bank, we will now focus on building our syndicate for the going public round.
  • Continue discussions with one of the Big Five banks for potential collaboration
  • Continue raising Series A

THINGS WE NEED HELP WITH

  • We are working on the white label and co-packing deals. Would be great to receive more leads, as well as support from investors with experience in such deals.
Business Development & Fundraising Team Update June 15, 2018
 
 

THIS WEEK’S UPDATE

  • Continued to raise Series A, with great traction from both individuals and investment banks
  • Received an engagement letter from an investment bank to lead the going public process.
  • Presented in DC Finance event in Israel and received tremendous interest from local investors
  • Met with world-leading scientists, researchers, and LPs in the cannabis industry located in Israel (images in the slideshow above are from our meeting with Dr. Dedi Meiri, founder of the Laboratory of Cancer Biology and Cannabinoid research at Technion - Israel Institute of Technology). Looking forward to interesting cooperation with cutting-edge technologies.
  • Working on our license in Greece
  • Talking with Provincial Government for financial grants to support Province’s new brewery

LOOKING FORWARD

  • Participating in the DC Finance event in London and conducting meetings with potential European investors
  • Started conversations with few breweries\LPs regarding co-packing and white labeling
  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year
  • Review and get prepared to sign an engagement letter from an investment bank to lead the going public process.
  • Continue discussions with one of the Big Five banks for potential collaboration
  • Continue raising Series A

THINGS WE NEED HELP WITH

  • We are working on the white label and co-packing deals. Would be great to receive more leads, as well as support from investors with experience in such deals.
Business Development & Fundraising Team Update June 8, 2018
 
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THIS WEEK’S UPDATE

  • Continued to raise Series A, with great traction from both individuals and investment banks
  • Met with one of the "Big Five" banks for potential collaboration and will have their support moving forward
  • Received interest from a few breweries regarding co-packing and white labeling
  • Working on our license in Greece
  • Talking with Provincial Government for financial grants to support Province’s new brewery

LOOKING FORWARD

  • Talking with potential breweries to co-pack our Cambridge Bay, and have it in the stores by the end of the year
  • One of our advisory board members will join us for a while, to help close a few deals with different breweries (co-packing and white labeling)
  • Excepting an engagement letter from an investment bank to lead the going public process.
  • Continue raising Series A

THINGS WE NEED HELP WITH

  • Last chance to make introductions to potential partners and investors in Tel Aviv or London
Business Development & Fundraising Team Update June 1, 2018
 
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THIS WEEK’S UPDATE

  • Continued to raise Series A, with great traction from both individuals and investment banks
  • Received interest from a few breweries regarding co-packing and white labeling
  • Working on our license in Greece
  • Talking with Provincial Government for financial grants to support Province’s new brewery

LOOKING FORWARD

  • Talking with a potential hemp supplier for our Cambridge Bay
  • Negotiating potential collaboration to reduce our lab costs
  • Meeting with one of the big banks for potential collaboration
  • Look for the right bank to lead the going public process; meeting with one final bank.
  • Continue raising Series A
  • Preparing for conferences in Tel-Aviv and London

THINGS WE NEED HELP WITH

  • Extending our network of brokers who can introduce us to new investors
  • Introductions to potential partners and investors in Tel Aviv or London
Business Development & Fundraising Team Update May 25, 2018
 
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THIS WEEK’S UPDATE

  • Singed an LOI on leasing buildings for our brewery. The final agreement should be signed in a couple of weeks.
  • Continued to raise Series A, with great traction from both individuals and investment banks
  • Followed up with potential partners and investors we met in New York at the 2nd Annual Cannabis Conference held by Canaccord Genuity
  • Reopened conversations about a potential brewery partnership
  • Spoke at the Canadian Brewing Awards & Conference
  • Participated in the Lift&Co event Toronto Expo 2018

LOOKING FORWARD

  • Talking with a potential hemp supplier for our Cambridge Bay
  • Negotiating potential collaboration to reduce our lab costs
  • Look for the right bank to lead the going public process; meeting with one final bank.
  • Continue raising Series A
  • Preparing for conferences in Tel-Aviv and London

THINGS WE NEED HELP WITH

  • Extending our network of brokers who can introduce us to new investors
  • Introductions to potential partners and investors in Tel Aviv or London
Business Development & Fundraising Team Update May 18, 2018
 
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THIS WEEK’S UPDATE

  • Continued to raise Series A with great traction from both individuals and investment banks
  • Met with potential partners and investors in New York at the 2nd Annual Cannabis Conference held by Canaccord Genuity
  • Finalized the terms for a potential lease agreement
  • Were filmed for another video article by CBC, increasing the media traction we have been receiving lately

LOOKING FORWARD

  • Look for the right bank to lead the going public process. We have set meetings with three investment banks
  • Continue raising Series A
  • Preparing for conferences in Tel-Aviv and London
  • Second visit to the potential facility we are looking to lease
  • Invited to talk at Canadian Brewing Awards & Conference

THINGS WE NEED HELP WITH

  • Extending our network of brokers, who can introduce us to new investors
  • Introductions to potential partners and investors in Tel Aviv or London
Business Development & Fundraising Team Update May 11, 2018
 
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THIS WEEK’S UPDATE

  • Continued to raise Series A with great traction from both individuals and investment banks
  • Responding to follow up questions as part of the due diligence process by a VC firm from New York that is interested in joining as a key investor in Province
  • Completed first reach out to new investors and partners we met at both Arcview - Vancouver and Cannabis Private Investment Summit.
  • Signed an agreement with another investment bank. We now have three banks assisting
  • Negotiated terms for a new potential lease agreement and visited the site

LOOKING FORWARD

  • Look for the right bank to lead the going public process. We have set meetings with three investment banks
  • Continue raising Series A
  • Continue due diligence with the VC firm

THINGS WE NEED HELP WITH

  • Expanding our network of brokers who can introduce us to new investors.
Business Development & Fundraising Team Update May 4, 2018
 
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THIS WEEK’S UPDATE

  •  Completed the first stage of the due diligence process by a VC firm, from New York, that is interested in joining as a key investor in Province
  • Had a great success in both Arcview - Vancouver and Cannabis Private Investment Summit. Met many potential partners and investors.
  • Signed an agreement with another investment bank to assist in closing the round
  • Met with two more investment banks that are interested in joining this round
  • Continued to raise Series A

LOOKING FORWARD

  • Follow up with all of the investors we met last week at the Arcview conference
  • Site visit at potential LP partner for a facility, white label, and cannabis supply
  • Continue due diligence with the VC firm
  • Look for the right bank to lead the going public process

THINGS WE NEED HELP WITH

  • Potential bankers that can take Province public
Business Development & Fundraising Team Update April 27, 2018
 
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THIS WEEK’S UPDATE

  • Signed an agreement with an investment bank to assist in closing the round.
  • Sent a signed agreement to another investment bank that can help us close the round, should be signed early this week. 
  • Signed an LOI with a CPC, as part of our going public path.
  • Continued our mutual due diligence with a potential brewery for collaboration or white label beers.
  • Continued to raise Series A.

LOOKING FORWARD

  • Presenting at Arcview in Vancouver's Where Are They Today session on Tuesday morning
  • Presenting at Cannabis Private Investment Summit in Beverly Hills on Wednesday.
  • Meet with a potential LP partner for a facility, white label, and cannabis supply.
  • Continue due diligence with potential brewery partner
  • Meeting and due diligence by a VC firm that is interested in joining as a key investor in Province

THINGS WE NEED HELP WITH

  • We are scheduling meetings in Arcview in Vancouver and Cannabis Private Investment Summit in Beverly Hills. If you or someone you know is attending, let’s set up a meeting
Business Development & Fundraising Team Update April 20, 2018
 
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THIS WEEK’S UPDATE

  • Getting ready to present in both Arcview - Vancouver, and the Cannabis Private Investment Summit - Beverly Hills. We would be happy to meet you there (Arcview: April 30 – May 2 \ CPIS: May 2).
  • Last steps with an investment bank for the due-diligence process.
  • Continuing our negotiations with a few CPCs as part of our going public efforts.
  • Continued our mutual due diligence with a potential brewery for collaboration or white label beers.
  • Raising Series A, this week to new investors.
  • Visited the GMP 2018 Cannabis Conference

LOOKING FORWARD

  • Complete preparation for Arcview and Cannabrunch next week.
  • Talk with new investors that are interested in joining the Province team
  • Finalizing the terms with an investment bank.
  • Continue due diligence with potential brewery partner
  • Looking for a facility for our brewing house.

THINGS WE NEED HELP WITH

  • We are scheduling meetings in Arcview in Vancouver and Cannabis Private Investment Summit in Beverly Hills. If you or someone you know is attending, let’s set up a meeting
Business Development & Fundraising Team Update April 13, 2018
 
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THIS WEEK’S UPDATE

  • Completed the exclusivity period for seed round investors, thank you for your support.
  • Sent Arcview all the required information about our participation in this event.
  • Getting ready to present in both Arcview in Vancouver, and the Cannabis Private Investment Summit in Beverly Hills. We would be happy to meet you there (Arcview: April 30 – May 2 \ CPIS: May 2).
  • Met with an investment bank twice as part of the due-diligence process.
  • Negotiations with a few CPCs as part of our going public efforts.
  • Met with a brewery, at their facility, about collaboration or white label beers.
  • Announced opening Series A to the public.

LOOKING FORWARD

  • Talk with new investors that are interested in joining the Province team
  • Continue the due-diligence with an investment bank, and add more to the syndicate.
  • Decide on our next steps with the brewery partner
  • Continue looking for a facility for our brewing house.

THINGS WE NEED HELP WITH

  • We are scheduling meetings in Arcview in Vancouver and Cannabis Private Investment Summit in Beverly Hills. If you or someone you know is attending, let’s set up a meeting
Business Development & Fundraising Team Update April 6, 2018
 
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THIS WEEK’S UPDATE

  • Spoke with many investors about Series A and started receiving your Subscription Agreements.
  • Started preparing for Arcview in Vancouver and the Cannabis Private Investment Summit in Beverly hills. We would be happy to meet you there (Arcview: April 30 – May 2 \ CPIS: May 2).
  • Continuing our negotiations with a few CPCs as part of our going public efforts.
  • Had a productive first meeting with another alcohol company about collaboration or white label beers.

LOOKING FORWARD

  • Continue talking with our Seed Round investors about Series A. 
  • Talk with a few banks that are interested in supporting us to close Series A.
  • Following up on the expected written offer from one of the potential CPCs.
  • Visit the alcohol company facility, which is potential collaborator\partner for Province Brands
  • Continue looking for a facility for our brewing house.

THINGS WE NEED HELP WITH

  • If we still haven't scheduled a phone call and you are interested in investing, please email us your preferred call time to elad@provincebrands.com.
Business Development & Fundraising Team Update March 30, 2018
 
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THIS WEEK’S UPDATE

  • Sent notification to all current investors regarding their investment opportunity.
  • Completed our preparation for Series A, Convertible Note.
  • Continued discussions with a potential CPC, and are now waiting for their response.
  • Began discussions with another alcohol company about collaboration or white label beers.

LOOKING FORWARD

  • We are continuing our work to receive a license in a European country.
  • Meeting a potential CPC, while continuing to work on the terms of a merger with another one.
  • Continue working on white label agreement with an LP.
  • Continue looking for a facility for our brewing house.

THINGS WE NEED HELP WITH

  • We have started raising Series A; the first ten days are opened only to our current shareholders. Please let us know if you would like to invest and continue your support to Province Brands.
Business Development & Fundraising Team Update March 23, 2018
 
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THIS WEEK’S UPDATE

  • Sent notification to all current investors about our next round in the form of a convertible note.
  • Worked on documentation for the convertible note fundraising.
  • Sent preliminary offer with terms and conditions for a merger with a CPC
  • Updated our business plan as part of preparing for the next round of fundraising.
  • Sent terms and conditions to a prospective LP that is interested in a white label agreement.

LOOKING FORWARD

  • Complete all needed documentation for next fundraising
  • Send all current investors all needed documentation to learn about the next round of fundraising opportunity.
  • We are continuing our work to receive a license in a European country.
  • Continue to work on the potential merger with the CPC
  • Continue to work on white label agreement with LP
  • Continuing to look for a facility for our brewing house.

THINGS WE NEED HELP WITH

  • As we are getting ready for our next round, if you know about prospective investors, please forward their details to elad@provincebrands.com