Off the North Beverage Corporation—Borealis Rare Iceberg Beer Launches CrowdFund Campaign
Conception Bay South, NL, May 1, 2018 – Of the North Beverage Corporation - Borealis Rare Iceberg Beer announces their official launch of their Crowdfund Campaign with a target of $700,000 for 8% ownership of the Company. Founder and Head of Marketing and Sales Ronald Stamp owns 25% of the Corporation with a Company value of $8,750,000.
The offering—now live on the Razitall Crowdfunding Platform—is made possible by the recent JOBS Act which, allows local investors to buy equity in new growing businesses. The minimum bid is set at $350 and is a "No Charge Bid"; No charge until the pitch is closed successfully, free cancellation until 48 hours before closing and you can Increase your bid anytime before the pitch closes.
The funds raised will cover the first full production of beer (10,000 cases) and will be sufficient to produce a second batch at a strategic date to avoid any break in supply.
Production of BOREALIS Rare Iceberg Beer is achieved through the implementation of three phases, commencing on or about the 1st of April annually. At this time, small vessels set sail to harvest iceberg ice off Canada's northern tip of Newfoundland, southern Labrador and Greenland. Projected volumes are used to meet the year's needs and a surplus is added for any unexpected product requests. The Company expects the average sales price or revenue per sale to be $21 with the average cost per unit or per sale to be $13. Its 1st year target sales after raised date is projected to be $2,700,000.
In the event the Company surpasses the target raise and meet the cap raise, there will be a cash surplus of $200-$250,000. Extra investment will allow BOREALIS to expand to other regions around the globe at an accelerated pace. The target raise will provide all the tools necessary to launch the brand and competitively market our premium beer in Asia with an eye to expansion; however, with the extra funds, Of the North can shorten the time required to meet our volume targets.
Certain statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. We assume no obligation to update the information contained in this news release.
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