Oakland, CA – Mirth Provisions, a Cannabis-infused beverage and sublingual spray company, won the Winners Fund prize at Arcview’s latest fundraising event in New York City. Primarily funded by The Arcview Group and managed by NeWay Capital, the Winners Fund offers innovative cannabis startups the chance to win financial investments at each of Arcview’s Shark Tank-style investor pitch events. Mirth Provisions received the highest rating by over 200 Arcview investors competing against 29 other cannabis companies.
“We are honored to be voted best company out of 29 pitches at this event,” said Adam Stites, Founder of Mirth Provisions, “This confirms our belief that there is a consumer demand for cannabis infused beverages and sublingual sprays that deliver a consistent experience.”
In addition to the $50,000 Winners Fund prize, Arcview’s investor members committed another $440,000 to the deal through a pool special purpose investment vehicle. Mirth Provisions will use the $490,000 in new investments in addition to its recently closed series-A financing to execute a national brand expansion. By partnering with established recreational and medical operators, Mirth plans to expand into five new states in 2017. Currently Mirth closes 90% of the retail store accounts it calls on, and is operating profitably in Arizona, Oregon, and Washington State where the company has a 70% market share in the cannabis beverage category.
Mirth Provisions partners with marijuana producers and distributors to license the production of its line of all natural Cannabis-infused sprays and beverages in states where marijuana is recreationally and medically legal. Made from the best local ingredients and highest-quality Cannabis, its line of Legal Sparkling Tonics and Drift sprays offers consumers a variety of refreshing flavors to choose from, each providing different effects based on the Cannabis strains used to produce it. Flavors and effects include:
- Legal Coffee Mocha offering a focused and energetic, yet mellow high.
- Legal Sparkling Rainier Cherry soda offering a clear-headed, focused high.
- Legal Sparkling Lemon Ginger soda offering a powerful body buzz and a smooth, freeing head high.
- Legal Sparkling Pomegranate soda offering an uplifting, euphoric head high and a gentle body buzz.
- Legal Sparkling Cranberry soda offering a gloriously powerful body high with a clear, anxiety-free head trip.
- Drift Sublingual Spray: the ease of a vape pen without the smoke. 1.6mg per spray and feel the effect within minutes.
Find store locations at: http://mirthprovisions.com/find-mirth/
Marijuana producers and distributors interested in exploring a licensing relationship with Mirth Provisions should contact Patrick Bernards, Director of Business Development at email@example.com.
About Mirth Provisions
Mirth Provisions® wants to bring you joy with our specialty cannabis-infused edibles and drinkables, crafted with the best local ingredients and the highest quality cannabis. Mirth Provisions is executing a
national brand expansion, closes 90% of the retail store accounts it calls on, and is operating in Arizona,
Oregon, and Washington State where the company has a 70% market share in the cannabis carbonated beverage category. Mirth has gained national recognition for its success and has been featured in CNN, Time, The New York Times, Bloomberg Business, and Fox Business TV to name a few. The company licenses to partners in each state to handle manufacturing, sales, and distribution. For more information, please visit www.mirthprovisions.com.
About The Arcview Group
Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network includes more than 600 accredited investors who have put more than $87 million behind 135 companies. Arcview Market Research produces the State of Legal Marijuana Markets report, which is the most oft-cited market data report. In 2015, Arcview became a partner in Canopy, the first seed-stage mentor-driven business accelerator. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry. For more information, please visit www.arcviewgroup.com or contact Abby Benjamin at firstname.lastname@example.org or 720-518-7611.