$KEGS 1812 Brewing Company Signs MOU with ERApeutics, LLC d.b.a. EVERMIND(TM) to Facilitate Investment and Product Commercialization, Supporting $4M Pre-Money Valuation
https://www.accesswire.com/741630/1812-brewin...-valuation
-- 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 $1.5 million in capital to date at a $4M pre-money valuation.
"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."
https://www.accesswire.com/741630/1812-brewin...-valuation
-- 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 $1.5 million in capital to date at a $4M pre-money valuation. "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."
