1812 Brewing Company Signs MOU with ERApeutics, LLC d.b.a. EVERMIND(TM) to Facilitate Investment and Product Commercialization, Supporting $4M Pre-Money Valuation
1812 Brewing Company (KEGS) has signed a Memorandum of Understanding (MOU) with EVERMIND to secure investment capital for the production of plant-based functional food and beverages aimed at cognitive health. EVERMIND, which has raised $1.5 million at a $4 million pre-money valuation, plans to offer products promising short and long-term brain health benefits. The collaboration is expected to enhance KEGS' product portfolio and tap into the growing market of functional beverages. Industry giants have shown interest in this sector, further validating its potential.
- Signing of MOU with EVERMIND to secure investment capital for cognitive health products.
- EVERMIND has raised $1.5 million at a $4 million pre-money valuation.
- Potential to diversify KEGS' product portfolio into the growing functional beverage market.
- None.
-- Possibilities include investment, portfolio diversification, collaborations on product development that capitalize on growing low and no-alcohol trends, as well as future acquisition. --
WATERTOWN, NY / ACCESSWIRE / March 2, 2023 / 1812 BREWING COMPANY, INC. (OTC PINK:KEGS) (the "Company" or "KEGS") is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with ERApeutics, LLC d.b.a. EVERMIND™ ("EVERMIND") to source and facilitate investment capital into EVERMIND to enable the company to commence production and marketing of its novel natural-source, plant-based, science-supported functional food and beverage products for cognitive health. Under the EVERMIND brand (www.thinkevermind.com), the company will commercialize science-supported, plant-based beverages for cognitive health that provide both short-term and long-term brain health benefits (‘multiple benefits') in one convenient daily ritual. Doctor-formulated with clean, real-food ingredients, EVERMIND delivers on compelling benefit drivers such as clean energy, mental focus, and long-term brain health. As a multi-benefit product, EVERMIND aims to gain market share across several multi-billion dollar ‘limited benefit' categories. EVERMIND is managed and advised by a team of CPG and beverage industry veterans who have successfully scaled food and beverage enterprises to successful exits. EVERMIND has raised
"I was extremely impressed by EVERMIND's total market opportunity, capital raising success, dedicated and talented management team, delicious products, and sophisticated go-to-market strategy. The intelligent way they intend to capitalize on the emerging cognitive health, and fast-growing plant-based and functional beverage trends is exciting. I am looking forward to the opportunity to help the company further its growth, as well as potentially collaborate on good-for-you products that will build value within a portfolio of KEGS' beverages that diversify into the low/no-alcohol space," added Thomas Scozzafava, Chairman and CEO of KEGS.
Jordan Balencic, D.O., the physician co-founder and CEO of EVERMIND stated "We are business-minded, science-driven, natural food and beverage nerds with a passion for making a huge impact within the emerging cognitive health space. EVERMIND is delicious and efficacious, and it's the first multi-benefit functional beverage product of its kind. As industry veterans and entrepreneurs, we don't focus on fads. We create opportunities that are poised to catch fire and become megatrends. EVERMIND is uniquely positioned at the intersection of several significant trends within the industry, and I am grateful that Mr. Scozzafava has put faith in us. We look forward to partnering with 1812, as we believe in time we will exceed investor expectations by delivering value to customers seeking healthier alternatives to synthetic energy drinks."
Recent investment and mergers and acquisition activity in this space by industry giants such as Coca-Cola, Pepsi, and Nestlé appear to be validating the potential of the health and wellness food and beverage bands.
https://www.nestle.co.nz/media/news/nestle-acquires-better-health-company
https://chpnz.org.nz/nestle-sets-sights-on-kiwi-expansion-with-375m-purchase/
About EVERMIND:
ERApeutics, LLC d.b.a. EVERMIND conducts business as a developer, marketer, distributor and seller of natural-source, plant-based, science-supported functional food and beverage products for cognitive health and other related products under the "EVERMIND" trade name.
About 1812 Brewing Company ("KEGS or the "Company"):
KEGS is an operator of and investor in companies in the craft beer industry. The Company seeks to build a nation-wide network of craft breweries to develop and foster respective brand growth at the local, regional, and national level. KEGS looks to build a network wherein certain economies of scale can be shared across it such as production, distribution footprint expansion, inter-member contract brewing, new product development, sharing of best brewery practices and scale logistics and transportation. The network is to be built through investment by 1812 Brewing Company while maintaining the members' respective local and regional uniqueness, brand autonomy and direct involvement with its consumers. The Company seeks to be an "incubator" of growth for its holdings in the industry.
The Company's current holding, 1812 Brewing Co., produces award-winning beers such as War of 1812 Amber Ale ("1812 Amber Ale"), 1812 Light, Hazy Oasis Pale Ale, Thousand Islands IPA, Malicious Intent XX IPA, Route 11 Lager, Railroad Red Ale, Helles Bells Pilsner, St. Stephens Stout, Third Rail Porter, Featherhammer Maibock.
For more updates follow us on our Website, Facebook, Twitter, Instagram and Linkedin.
https://www.1812ale.com/
https://www.facebook.com/1812brewingcompany/
https://www.instagram.com/1812brewingcompany/
https://twitter.com/1812Brewing
https://www.linkedin.com/company/1812brewingcompany/
Contact Name: Tom Scozzafava
Contact Phone Number: 315-788-1812
Contact Email Address: contact@1812ale.com
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
SOURCE: 1812 Brewing Company Inc.
View source version on accesswire.com:
https://www.accesswire.com/741630/1812-Brewing-Company-Signs-MOU-with-ERApeutics-LLC-dba-EVERMINDTM-to-Facilitate-Investment-and-Product-Commercialization-Supporting-4M-Pre-Money-Valuation
FAQ
What recent partnership has KEGS entered into?
How much funding has EVERMIND raised?
What type of products will EVERMIND focus on?
What trends does KEGS aim to capitalize on through this partnership?
What market potential is associated with KEGS' collaboration with EVERMIND?
