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This page contains historical news coverage for Winc Inc (BEV), which operated as a direct-to-consumer wine subscription company before filing for Chapter 11 bankruptcy. The company no longer trades as an independent entity following its acquisition by AMASS Brands. This archive provides context on the company's business operations, market challenges, and the events leading to its bankruptcy and acquisition.
Winc's news history documents the evolution of a venture-backed subscription business from its initial public offering through its financial difficulties and eventual restructuring. Coverage includes the company's efforts to build a personalized wine subscription service, its navigation of complex alcohol distribution regulations, and the market conditions that affected direct-to-consumer wine businesses. Understanding this timeline offers insights into the challenges faced by subscription-based consumer companies operating in regulated industries.
Browse historical news to understand Winc's business model, its position within the direct-to-consumer wine market, and the factors that influenced its corporate trajectory. This archive serves as a resource for investors researching the outcomes of consumer subscription businesses and the wine retail industry's evolution.
BevCanna Enterprises has partnered with Stigma Grow to launch the award-winning Keef Brands line of cannabis-infused beverages throughout Canada. This collaboration leverages Stigma Grow's distribution channels to enhance BevCanna's market presence and streamline product commercialization. The company has reported strong demand for its products, with multiple purchase orders and supply agreements expected soon. This partnership is crucial for BevCanna while awaiting its own Sales License from Health Canada.
BevCanna Enterprises has entered a supply agreement with Nextleaf Solutions to leverage their Rapid Emulsion Technology for THC and CBD products. This partnership allows BevCanna to develop both in-house and white-label beverages with a tasteless, odorless cannabis distillate. The recent receipt of a Health Canada Standard Processing License will enable BevCanna to advance its commercial validation and market activities. The company is focused on producing high-quality cannabinoid beverages leveraging Nextleaf's innovative technology.
BevCanna Enterprises has appointed Melise Panetta as President, succeeding Martino Ciambrelli, who remains on the Board. Panetta brings extensive CPG experience from companies like General Mills and PepsiCo. Her leadership is expected to drive BevCanna's growth in the cannabis and wellness sectors, focusing on international expansion and the launch of Keef Brands. The company also aims to enhance the TRACE brand's domestic and global footprint. Recent achievements include Health Canada licensing and the acquisition of Naturo Group.
BevCanna Enterprises has successfully closed its acquisition of Naturo Group Investments, enhancing its position in the health and wellness beverage sector. This strategic move consolidates over $55M in assets and a robust global sales network. Key benefits include direct ownership of a valuable alkaline spring water aquifer, a network of over 3,000 retail outlets, and state-of-the-art manufacturing capabilities. This acquisition aligns with the growing demand for plant-based and cannabis products, positioning BevCanna for significant market expansion.
BevCanna Enterprises has received a Standard Processing License from Health Canada, enabling the company to begin production at its high-capacity beverage manufacturing facility. This license allows BevCanna to produce both in-house and white-label products, including the popular Keef cannabis beverage brand. The company is set to benefit from its acquisition of Naturo Group and the Pure Therapy e-commerce platform, positioning it for multiple revenue streams in the growing Canadian cannabis-infused market.
BevCanna Enterprises has entered an amended agreement with Naturo Group Investments to finalize their acquisition. This strategic move will enhance BevCanna's position in the health and wellness beverage sector, with over C$55M in combined assets and a vast distribution network. The transaction is set to close within 10 days, establishing a diversified portfolio including cannabis and plant-based products. Notably, the company will directly own a C$18M alkaline spring water aquifer, supporting long-term growth strategies.
BevCanna Enterprises announced record sales for its e-commerce platform, Pure Therapy, since its acquisition in September 2020. The projected revenue run rate is C$7.68M with positive EBITDA of C$.37M. The company has acquired 3,270 new customers and expects to secure a Canadian Standard Processing License and finalize its acquisition of Naturo Group, valued over C$37M, soon. This merger will create a comprehensive health beverage company with an asset base exceeding C$55M and a broad distribution network.
BevCanna Enterprises has successfully completed a $5 million capital raise, which includes a fully-subscribed C$3.5 million offering at $1.50 per unit. The financing replaces a previously announced unit offering priced at $0.50 due to increased investor demand. These funds will facilitate ongoing domestic and international growth initiatives, including the acquisition of Naturo Group and the expansion of its Pure Therapy brand. Additionally, the company has settled $37,500 in debt through the issuance of shares.
BevCanna Enterprises (CSE:BEV, OTCQB:BVNNF) announces an equity investment from Keef Brands, the leading cannabis beverage company in the U.S. This strategic partnership positions BevCanna as the exclusive Canadian licensee for Keef, leveraging their extensive distribution network and facilitating access to over 1,000 U.S. dispensaries. The investment, which includes 182,500 common shares at $0.70 each, underscores Keef's confidence in BevCanna's growth potential, especially with anticipated U.S. federal cannabis legalization.
BevCanna Enterprises (CSE:BEV, OTCQB:BVNNF) announces its application for a Standard Processing Licence has reached the final review stages with Health Canada, expecting imminent approval. The company submitted formal responses to Health Canada on December 8, 2020, with no further information requests anticipated. This licence will authorize BevCanna to produce cannabis-infused products at its manufacturing facility and serve both in-house brands and white-label clients by Q1. Additionally, the acquisition of Naturo Group is expected to close soon, bolstering their market position.
