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Posts Tagged wefunder

Barrel Harbor Brewing seeking investors online

Feb 23

Vista-based Barrel Harbor Brewing opened in 2013 with a 10-barrel brewing system owner Tim St. Martin hoped would allow the company to produce enough beer to compete on store shelves and at hospitality venues throughout San Diego County. Over the past half-decade, he has been made all too aware that shelf, cooler and tap space, though plentiful, is finite, and that larger breweries have an easier path to entry with all three. But he still believes in his beers, rather than throw in the towel, he is seeking investment in the company via an active fundraising campaign on the Wefunder website.

St. Martin’s stated goal is between $100,000 and $250,000. According to the campaign page, those funds will be used to increase marketing efforts to raise brand awareness, establish robust canning capabilities, and build an extensive sales and distribution team. While Barrel Harbor beers are available in dozens of local bars and restaurants, the company sells most of its product through a pair of tasting rooms—one at its Vista production facility and another that shares branding with a tabletop gaming interest in Miramar. The latter opened in January of 2017 and has always operated at a loss. The former, and the company as a whole, is also operating at a loss, necessitating the pursuit of additional funding and generation of a sales-and-marketing strategy.

When listing the positives of his brewery, St. Martin is particularly bullish on his Belgian-style dark strong ale, Rungnir, which won a gold medal at the 2017 San Diego International Beer Festival. It’s one of four medals the company has won in four years, which St. Martin touts at Wefunder, though they are not of the stature of awards issued at the Great American Beer Festival or World Beer Cup, which are highly recognized and typically cited as proof of exceptional brewing prowess. Despite the success of Rungnir, St. Martin says he doesn’t want to further build the company’s reputation on the back of a single beer, but rather offer a variety of beers; something for everyone. Barrel Harbor’s total revenue for 2017 was just over $709,000. St. Martin has control over enough square-footage that he can still increase production, and hopes to do so year over year.

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Mission Brewery selling stock to general public

Oct 3

Yesterday, Mission Brewery owners Dan and Sarah Selis announced the launch of a stock-purchase campaign. Sale of stock will take place over a two-month window via online applications on the WeFunder site. With the exception of an ill-fated and illegal attempt by Kearny Mesa’s defunct Magnetic Brewing, this is the first time a San Diego-based brewery has explored a venture of this kind.

In the past, Mission Brewery was limited in the types of investors it could bring aboard by Securities and Exchange Commission regulations. Previously, investors needed to be accredited and possess a certain income and net worth, but Title III of the JOBS (Jumpstart Our Business Startups) Act, which went into effect May of last year, allows the Selises to entertain applications from the general public. The Selis’ investment goal is $1 million, and the minimum investment individuals may make is $200. Beyond the minimum, WeFunder calculates the amount each investor may invest based on their income and net worth.

“Investing in Mission Brewery doesn’t just help the brewery, but it gives San Diegans the chance to become a part of the local San Diego beer scene as more than just a consumer or homebrewer,” says Dan Selis. “Most beer lovers dream of opening a brewery. I was homebrewing for about 25 years before I started Mission Brewery. Now, people can have the chance to make becoming part of a brewery a reality and own a piece of Mission Brewery.”

Mission Brewery opened in 2007 as a resuscitation of a San Diego beer-making brand originally established in 1913. That operation closed in 1920 at the onset of the Prohibition Era. For a time, its beers were produced in the historic Mission Brewery Plaza in the Five Points area of San Diego. Manufacturing now takes place in another historically significant location, the old Wonder Bread factory just east of Petco Park in downtown’s East Village area. Mission’s production for 2017 is projected to reach roughly 18,000 barrels, and its beers are currently distributed in six states: California, Arizona, Colorado, Hawaii, North Carolina and Pennsylvania.

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