Posts in Business & Fundraising
Business Development & Fundraising Team Update October 12, 2018
 
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THIS WEEK’S UPDATE

  • Over the last week, we have focused most of our efforts on Series B fundraising, rather than business development.

  • Conducted calls and meetings in New York, Montreal, Toronto, and Vancouver.

  • Contacted investors in different parts of Canada, USA, and the world to set up meetings for the coming weeks.

  • Talked with a few IR companies to support us once we are a public company.

  • Interviewed a few candidates to join the team

LOOKING FORWARD

  • Most of the team’s time will be dedicated to Series B fundraising.

  • Set meetings with investors while we are on our roadshow.

  • Dooma and Elad will continue the roadshow and be in the following cities: Singapore, Phnom Penh (Cambodia), and Tokyo.

  • Chose an IR firm to support Province’s communications once public.

  • Continue looking for new team members

THINGS WE NEED HELP WITH

  • If you have investors to introduce us too, we will be happy to call/meet them and add them to the Province Team. If needed, we can travel to present to them in person. Our roadshow schedule is:

  • Tuesday, October 16 - Singapore

  • Wednesday, October 17 - Phnom Penh, Cambodia

  • Thursday, October 18th – Japan

  • Friday, October 19th - Japan

Business Development & Fundraising Team Update October 5, 2018
 
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THIS WEEK’S UPDATE

  • Over the last week, we have focused most of our efforts on Series B fundraising, rather than business development.

  • Participated in conferences in London and Geneva, with the support of PI Financial, and received a lot of interest in our raise.

  • Met with potential investors in Toronto, including a couple of the bigger LPs.

  • Contacted investors in different parts of Canada, USA, and the world to set up meetings for the coming weeks.

  • Talked with a few IR companies to support us once we are a public company.

LOOKING FORWARD

  • Most of the team’s time will be dedicated to Series B fundraising.

  • Set meetings with investors while we are on our roadshow.

  • Dooma and Elad will continue the roadshow and be in the following cities: New York, Montreal, Vancouver, and Japan to attend meetings with investors (Full schedule below).

  • Choose an IR firm to support Province’s communications once public.

  • Continue looking for new team members

THINGS WE NEED HELP WITH

  • During the next two weeks, we will be in the following cities. If you know any investors you’d like to introduce us to, we will be happy to call/meet them and add them to the Province Team. If needed, we can travel to present to them in person.

  • Monday, October 8th – New York

  • Tuesday, October 9th – New York

  • Wednesday, October 10th – Montreal

  • Thursday, October 11th – Toronto

  • Friday, October 12th - Vancouver

  • Thursday, October 18th – Japan

  • Friday, October 19th - Japan

Business Development & Fundraising Team Update September 28, 2018
 
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THIS WEEK’S UPDATE

  • This was the first week of Series B. We had a bunch of meetings and are already seeing the interest in the new round.

  • We are happy to share that our syndicate includes: Paradigm, PI, Echelon, and IA.

  • Presented to syndicate partners, a large alcohol company, and LP.

  • Set up a roadshow for the next two weeks

LOOKING FORWARD

  • Most of the team’s time will be dedicated to Series B fundraising.

  • Dooma, Oscar, and Elad will be meeting investors on the roadshow (full schedule below)

  • Chose an IR firm to support Province’s communications once public.

  • Set meetings with investors while we are on our road show.

  • Continue looking for new team members

THINGS WE NEED HELP WITH

  • During the next two weeks, we will be in the following cities. We are happy to meet with you or any new investors you’d like to introduce to us.

  • Monday, October 1st – London

  • Tuesday, October 2nd – London

  • Wednesday, October 3rd – London + Geneva

  • Thursday, October 4th – Toronto + Geneva

  • Friday, October 5th – Toronto

  • Monday, October 8th – New York

  • Tuesday, October 9th – New York

  • Wednesday, October 10th – Montreal

  • Thursday, October 11th – Toronto

  • Friday, October 12th - Vancouver

Business Development & Fundraising Team Update September 21, 2018
 
 Elad Barak representing at the Extraordinary Future conference in Vancouver

Elad Barak representing at the Extraordinary Future conference in Vancouver

 

THIS WEEK’S UPDATE

  • Participated and presented at Arcview Chicago and Extraordinery Future Vancouver

  • Completed the new business plan for the going public round.

  • Completed preparing for the next round and will start next week.

  • Set a few meetings with potential strategic investors.

LOOKING FORWARD

  • Meeting with Paradigm to start the raise.

  • Invite the banks to join the raise and finalize the syndicate.

  • Officially start Series B raise.

  • Follow up with investors we met at the last few events

  • Continue looking for new team members

THINGS WE NEED HELP WITH

  • We are looking for strategic investors to join the round. We are looking for introductions to decision makers in the large LPs

Business Development & Fundraising Team Update September 14, 2018
 
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THIS WEEK’S UPDATE

  • Presented in the Cannabis Private Investment Summit in New York, and started receiving interest in Series B.

  • Completed preparing for the events happening on the week of September 18 - 21.

  • Continue working on a new business plan for the going public round. We have a preliminary version and will have the final version soon.

  • Spoke with two potential IR companies to support Province after going public.

LOOKING FORWARD

  • Continuing our roadshow in Chicago, and Vancouver for the next two weeks

  • Working on the last steps preparing for Series B

  • Last touches to the business plan

  • Complete all documentation for Series B

  • Finalize our syndicate together with Paradigm

THINGS WE NEED HELP WITH

  • Here is our road show for the next week:

    • Vancouver – Wednesday, Sep 19 – Saturday, Sep 22

  • If you have any recommendation of potential investors we should meet, please make an introduction.

Business Development & Fundraising Team Update September 7, 2018
 
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THIS WEEK’S UPDATE

  • Completed Series A2 with $560,000 invested.

  • Completed our new financial model

  • Continued working on a new business plan for the going public round. We have preliminary version and will have the final version soon.

  • Met with the full Paradigm team to present Series B.

  • Spoke with two potential IR companies to support Province after going public.

  • Met with Hybrid Financial, which will support our efforts on the next.

LOOKING FORWARD

  • Starting our roadshow in New York, Chicago, and Vancouver for the next two weeks.

  • Working on the last steps preparing for Series B.

  • Last touches to the business plan

  • Participate in CPIS New York

  • Meeting with potential investors in Series B

THINGS WE NEED HELP WITH

  • Here is our road show for the next couple of weeks:

    • New York – Thursday, Sep 13 – Saturday, Sep 15

    • Chicago – Sunday, Sep 16 – Tuesday, Sep 18

    • Vancouver – Wednesday, Sep 19 – Saturday, Sep 22

  • If you have any recommendation of potential investors we should meet, please make an introduction.

Business Development & Fundraising Team Update August 31, 2018
 
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THIS WEEK’S UPDATE

  • Started discussions about our financial model and valuation.
  • Last touches to the financial model.
  • Continue working on a new business plan for the going public round.
  • Set kick-off meeting with Paradigm to start Series B.
  • Scheduled meetings with two IR firms to support Province after we go public.

LOOKING FORWARD

  • Focusing our effort on getting the business plan done.
  • Determine together with Paradigm our valuation for next round.
  • Aiming to close Series A2 as our last raise before Series B.
  • Conduct kick-off meeting with Paradigm for Series B, and conduct syndicate call.
  • Kick-off meeting with Hybrid Financial, which will support our efforts on the next raise.

THINGS WE NEED HELP WITH

  • As we are getting ready for our Series B, that will be concurrent to going public, it would be great to be introduced to potential investors to join the team.

Business Development & Fundraising Team Update August 24, 2018
 
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THIS WEEK’S UPDATE

  • Met with one more investment banks to discuss joining the syndicate.
  • Made updates to the financial model.
  • Continue working on a new business plan for the going public round.
  • Met with two craft brewers and two LPs interested in co-packing deals.
  • Last week for our two summer interns, thanks for the help and good luck in the last year of university.

LOOKING FORWARD

  • Focusing our effort on getting the business plan ready on time
  • Finalize the financial model and work on valuation for next round.
  • Contact potential investors for the Series A2, and the going public.
  • Start looking for IR firms to assist us once public.
  • Continue working on potential contracts with breweries and co-packers

THINGS WE NEED HELP WITH

  • Still looking for new team members. Looking for a recommendation for someone with public markets experience to join the business development team.

Business Development & Fundraising Team Update August 17, 2018
 
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THIS WEEK’S UPDATE

  • Participated in the Cannabis Capital Conference and met potential investors for both Series A2, and the going public round.
  • Discussed internally our syndicate, and we are getting ready to present it to them in a couple of weeks.
  • Completed first draft of the updated financial model.
  • Working on a new business plan for the going public round.
  • Met with a potential LP that is interested in a white label deal.

LOOKING FORWARD

  • Focusing our effort on getting the business plan ready on time
  • Finalize the financial model.
  • Contact potential investors for the Series A2, and the going public.
  • Continue working on potential contracts with breweries and co-packers

THINGS WE NEED HELP WITH

  • Still looking for new team members. Looking for a recommendation for someone with public markets experience to join the business development team.

Business Development & Fundraising Team Update August 10, 2018
 
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THIS WEEK’S UPDATE

  • Continue raising Series A2
  • Spoke with two more investment banks, and received a positive response from one more bank that wants to join the syndicate.
  • Met with Paradigm for initial review of our financial model and updating it before the going public round.
  • Working on a new business plan and financial model for the going public round.
  • Met with an IR firm to assist with the business plan and IR support post going public.
  • Met with a potential LP that is interested in a white label deal.

LOOKING FORWARD

  • Participating at the Cannabis Capital Conference event here in Toronto.
  • Continuing to raise Series A2.
  • 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.
  • Continue updating the financial model for 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 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