LOS ANGELES--(BUSINESS WIRE)--Union Electric, California’s leading cannabis brand for premium flower that’s fairly priced, today announces the launch of its first ever Regulation CF equity crowdfunding campaign. Union Electric is the first California cannabis company of this stature to offer its customers and the general public an opportunity to invest in one of the state’s fastest growing cannabis brands to date.
Due to the ever-evolving legal status of cannabis in the US, there have been very few opportunities for individuals to invest early on in American cannabis brands — and Union Electric is striving to change this.
Regulation CF is an opportunity for community-rich brands like Union Electric to access substantial financing from thousands of people, as well create a union of stakeholders comprised of lifelong cannabis consumers. This idea resonates deeply with the Union Electric Ethos: collective power and cannabis for all.
“Union Electric is rooted in the values of community and transparency. We believe this online public offering is a manifestation of our brand mission by inviting our customers a share in our future growth,” said Max Goldstein, CEO of Union Electric. “Many of our customers spend more of their disposable income on packaged cannabis than any other product, period. We're conducting a CF raise to create a ‘Union’ of these customers and offer early-stage ownership in a brand that not only meets their personal consumption standards but also represents their interests in the fight for a fair and equitable legal cannabis industry.”
Union Electric is at the forefront of an accelerating lifestyle and business market; the cannabis market is projected to grow at a compound annual growth rate (CAGR) of 17.8% from 2020 onward. Currently the market is valued at $61 billion, up from $17.5 billion in 2019, and sales increased by 67% from 2019 to 2020.
“We’ve realized that with the recent boom of cannabis legalization, the core of the $61 billion cannabis market has been ignored and dismissed by the high end brands that attempted to take over the market early on,” comments Goldstein. “We launched Union Electric to reflect what the core cannabis consumer will expect out of a national brand, which means leading with integrity, transparency and equality while offering a high quality product. The everyday consumer is looking for a straightforward cannabis experience and they want to support brands creating prosperity across the entire value chain.”
Union Electric plans to use funds from this round to expand into new product categories, like pre-rolls and edibles, as well as introduce new flower strains. To learn more about Union Electric’s Regulation CF raise, please visit republic.co/union-electric.
ABOUT UNION ELECTRIC
Union Electric was founded in California in 2020 as one of OpenNest Labs first incubated brands. Its model is uniquely asset-light thanks to its diversified partnerships, and focused on filling an area of opportunity with a consumer-first approach, aimed at an underserved market: the working class customer. The name Union Electric was inspired by the punching-in and punching-out aspect of working a union job — more specifically, the average cannabis user’s job. The name also represents its Union of stakeholders: Customers, cultivators, and retailers alike, working together to provide affordable, quality products.
Union Electric distributes throughout key California markets including the Bay Area, Sacramento, Inland Empire, I-5 Corridor, Desert Cities, and Los Angeles, and is expected to expand across state borders in 2022.
