Harbour Coca Launches US$5 Million Reg D506 Capital Raise; Provides Update on 2023 Milestones and Priority Initiatives
Investors participating in the Financing include New York-based ArcStone US Ventures and recognized CPG entrepreneur, John Celenza, co-founder of BioSteel.
Harbour Solutions Importation Inc., the world's leading coca leaf company, today announced the launch of an offering of its common shares under Rule 506(c) of Regulation D for gross proceeds of up to US$5,000,000 (the "Financing").
The Financing will provide strategic capital to Harbour and enable accredited investors to participate in the growth of the rapidly emerging coca sector. In connection with the Financing, Harbour has secured investments from New York-based venture capital fund ArcStone US Ventures ("ArcStone") (along with personal investments from ArcStone's CEO Michael Astone and its Managing Director Jack Bensimon) as well as recognized CPG entrepreneur, John Celenza, co-founder and former CEO of BioSteel Sports Nutrition.
Earlier this year, Harbour became the first company to successfully import coca leaf extract into Canada, an effort that took many months to complete. Since then, the Company has successfully completed a secondary importation on an expedited basis.
"Harbour has diligently navigated through the complex regulatory processes to set a new standard for the expansion and growing influence in the coca leaf and derivative products sector," said David Craig, Harbour's CEO. "With the proceeds of the Financing, along with the strategic participation by ArcStone and John Celenza, Harbour will open up the power and the potential of coca leaf extract to the world through new and differentiated products."
For thousands of years, coca has been heralded as a panacea among many cultures, offering benefits as a medicine, a tonic and a food. But for a variety of political reasons, its many medical and health benefits have gone unrecognized in Western culture. That is starting to change as the success of cannabis and psychedelics has generated renewed interest in once-stigmatized plant-based medicines.
John Celenza, Co-founder of BioSteel, said: "I am thrilled to be investing in Harbour as I believe strongly in its mission and innovative potential. The Company's work with coca as a natural, healthy, and functional ingredient positions it to be a catalyst for innovation in the CPG industry. I look forward to working with David and his team to create a new era of cutting-edge consumer goods and help unleash the power of the coca plant for good."
Michael Astone, CEO of ArcStone, added: "The growing interest in coca is reminiscent of the early days of the hemp and cannabis industries. Investors who got in early were the big winners. As with cannabis and hemp, coca-based nutraceuticals and CPG products represent a huge disruptive opportunity in the multiples of billions of dollars. Energy drinks, functional foods, and beverages are all likely to be disrupted by coca products. New brands as well as large established CPG companies are going to be developing new products with coca. These are just a few of the reasons why we at ArcStone are excited to be investing in Harbour."
The Offering is exempt from registration under Rule 506(c) of Regulation D which allows companies to raise capital by selling equity to accredited investors only.
About Harbour Solutions Importation Inc. ("Harbour Coca")
Harbour Coca is the world's leading coca plant company bringing active and non-active coca leaf extracts and its derivatives to market. The company is disrupting and growing multi-billion-dollar industries in pharma, food & beverage, nutraceuticals, and sustainable agricultural fertilizer as the only Canadian coca leaf importer and processor. The company is providing an end-to-end supply chain resource, with legal leaf cultivation and importation in accordance with the UN-sanctioned regulations.
Learn more about us at www.harboursolution.com and www.investincoca.com.
Follow us on Instagram and Twitter: @harboursolution
For more information, please reach out to:
David Craig, CEO
Harbour Solutions
+1 647 219 2934
McKenna Miller
Vice President, PR
KCSA Strategic Communications
+1 949 606 6585
Certain statements in this press release related to Harbour Coca are forward-looking statements and are prospective in nature, therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements.
