Crafty Elk refreshes its equity crowdfunding to pursue market expansion
Photo: Crafty Elk founder, Greg Gilliland, and friend
CRAFTY ELK DISTILLING Ltd., a London-based producer of low-alcohol ready-to-drink beverages made with premium vodka and natural ingredients, has launched a reinvigorated equity crowdfunding campaign to further its market expansion.
Launched in 2017, the firm has history in raising capital via crowdfunding campaigns — a self-contained way to raise money from investors without a listing on a public stock exchange. In an initial campaign, Crafty Elk pulled in around $650,000 in funding.
A second crowdfunding campaign was set to charge out of the gates last March, but with the onset of the pandemic, the company’s focus quickly changed to overcoming distribution and logistic challenges.
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According to a release from the firm, Crafty Elk managed to post double-digital year-over-year sales growth despite Covid-19. During the pandemic, Crafty Elk branched out from distribution solely through retail outlets and added home delivery in Ontario. Over a six-month period in the pandemic, Crafty Elk realized sales of 3,500 cases via home delivery, which helped contribute to a 60 per cent gain over anticipated revenue projections.
Crafty Elk is currently retailed in four provinces ―Ontario, Alberta, Saskatchewan and B.C., and the firm is focusing on completing a test market entry into the U.S. (California) by the end of 2021.
Crafty Elk investment shares are being made available at $1.25 each, with the minimum subscription being $250 for 200 shares. To learn more, click here.