California cannabis brand Union Electric has launched a Regulation Crowdfunding (CF) campaign with the equity crowdfunding platform Republic. Investors can own a stake in the company for as little as $100.
While many cannabis brands are going after new consumer segments, Union Electric services the core cannabis consumer, the everyday smoker, offering premium and affordable flower from California’s top cultivators.
The company also has an asset-light business model. Rather than owning expensive infrastructure, Union Electric has invested in building relationships and alliances with leaders across the value chain. This gives it the ability to remain nimble and adapt to market trends while simultaneously providing the company access to high-quality, high-potency cannabis.
“This is a very exciting time for our small-but-mighty team and the cannabis industry as a whole. Union Electric launched just over a year ago, having closed our first sale the day after the Covid-19 lockdown, and today, we’re proud to be able to offer equity to our loyal customers as an extension of our mission: Giving people accessibility to high-quality cannabis at an affordable price point,” Union Electric’s CEO Max Goldstein told Benzinga.
“A majority of our customers spend more of their disposable income on packaged cannabis than any other product. We’re proud of what we’ve been able to accomplish together by creating a union of shareholders through this crowdfund, and are looking forward to using this momentum to continue driving the fight for a fair and equitable legal cannabis industry,” Goldstein said. “We’re really excited to present the cannabis industry an alternative strategy for building a successful brand using customer loyalty and new financial instruments that are just being introduced to the market. Our customers want to be a part of this new emerging industry, not just profited off of, and we believe our Reg CF campaign offers an exciting entry point into our goal of becoming the world’s leading cannabis brand.”
You can learn more about Union Electric’s crowdfunding raise and business model on Republic.co
Más contenido sobre cannabis en Español en El Planteo.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights