First Crop

First Crop

CBD health and wellness company that develops, manufactures, and sells its branded CBD-based products

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Security Type
Preferred Stock
Min Investment
$100
Location
Santa Fe, NM
Offering Date
April 12, 2021
Expected Close Date
September 13, 2021
Target Raise
$50.00K-$1.07M
Deal Notes

Price Per Share: $1.00

Valuation
$13,444,320

Company Description

First Crop is a vertically integrated CBD health and wellness company that controls every aspect of its products from “seed to shelf.” The company partners with farmers to grow USDA Certified Organic hemp from which it then extracts CBD oil to use in its CBD health and wellness products. First Crop provides cultivation expertise and supports its farmers, who also receive a 5% share of the company’s profits.

Perks

Tier 1- $250+ Friends of First Crop -Join the team of First Crop supporters and receive a First Crop hemp fabric tee shirt with its mission statement “Healing People and Planet, One Seed, One Soul, One Regenerative Act at a Time.”
Tier 2- $500+ Supporter of Sustainability - All of the perks of Tier 1 PLUS a $100 First Crop gift card.
Tier 3- $1,000+ One Regenerative Act - All of the perks of Tier 2 PLUS a $250 First Crop gift card.
Tier 4- $2,500+ Six Months of Wellness and Savings - All of the perks of Tier 3 PLUS receive our daily wellness bundle delivered to your home each month for six months. Package provides everything you need to initiate a daily wellness practice including our Calm and Relief tinctures and Sleep capsules.
Tier 5- $5,000+ A Full Year of Wellness and Savings - All of the perks of Tier 4 PLUS receive a skin and body care products bundle, including CALM Balancing and SLEEP Renewal facial serums and RELIEF therapeutic balm.
Tier 6- $10,000+ Join First Crop’s Product Development Advisory Team -
All of the perks of Tier 5 PLUS join an exclusive group of VIP Product Development Insiders for a year. VIP Product Insiders will enjoy behind-the-scenes insight into First Crop’s product development plans. Join a quarterly Zoom call with our very own Co-Founder & CEO, Dave Weir, and our VP of Products Erica Armstrong to get the inside scoop on industry trends and product innovation, receive the opportunity to test and provide feedback on new First Crop products before release and enjoy first access to new products.
Tier 7- $20,000+ Hemp and Regenerative Capitalism- An Immersion Experience - All of the perks of Tier 6 PLUS you and a friend will experience the magic of New Mexico while immersing yourself in a truly unique learning experience. The weekend includes a tour of one of our hemp farms, the opportunity to meet several of our farmer partners, and an insider’s behind-the-scenes look into First Crop’s business and the regenerative principles that make it unique. Cap your weekend with a dinner hosted by First Crop’s Co-Founders and participate in a discussion of Regenerative Capitalism led by John Fullerton, the Founder of the Capital Institute and First Crop Board member. All meals and two nights of lodging are provided. Limited to the first 10 investors at this level.

Key Deal Facts

Monthly net revenue grew 508% between September and February as product launches were executed in late 2020 and early 2021
Brought 24 new products to market in Q3 and Q4 2020
Received USDA Organic and Leaping Bunny Cruelty-Free certifications
Company has multiple revenue sources, including retail and wholesale sales and hemp processing fees

Use of Proceeds

First Crop intends to use the funds raised in this offering to further fund the company’s growth plan.

Management Team / Advisory Board Bios

David Weir, President and Chief Executive Officer
David Weir is a co-founder, president, and First Crop’s most senior executive officer. He is responsible for the company’s administrative affairs, which include the duties of executive, operational, and marketing officers. He holds a bachelor’s degree in Government and Legal Studies from Bowdoin College. Before First Crop, Weir was an award-winning start up CEO and a managing director of investment banking at J.P. Morgan for 18 years.

Stefan Craine, Chief Financial and Strategy Officer
Stefan Craine is the senior financial officer for First Crop. He handles the company’s financial affairs, which include financial planning and analysis and keeping records of all transactions. He holds a Bachelor of Business Administration from St. Bonaventure University and an MBA from the University of Colorado. Before First Crop, Craine was chief financial officer for “Don’t Go Nuts” a branded food products company.

Jane Pinto, Vice President
Jane Pinto is a co-founder and VP officer for First Crop. She is responsible for the company’s founding vision brand development. She holds a bachelor’s degree in Fashion and Business Merchandising from the University of Massachusetts, Amherst. Pinto’s other experience includes being the founder, president, and Chief Executive Officer of “Don’t Go Nuts” a branded food products company.

David Armstrong, Secretary and Treasurer
March 2019 to Present: David Armstrong is a co-founder and VP of Operations for First Crop. He is also appointed as the company’s secretary and treasurer and is responsible for day-to-day operations. He holds a bachelor’s degree in Chemical Engineering from the Ohio State University and an MBA from the Indiana University Kelley School of Business. Armstrong’s prior experience includes Chief Operating Officer of “Don’t Go Nuts” branded food products where he handled the company’s day-to-day operations. Prior to that, Armstrong was Vice President – Commercial Development at Ashland Global.

Deal Notes

Price Per Share: $1.00

Amount Raised : $175,142
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Security Description

Preferred securities are a type of investment that generally offers some sort of preferred treatment through a dividend or preferred treatment in a liquidation.

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