SQUAMISH, BC, May 13, 2021 /PRNewswire/ — State B Beverage Co, a new arrival to the world of cannabis-infused beverages, is pleased to announce a partnership with Young America Capital, an investment bank based in Mamaroneck, New York, who specialize in serving the needs of early stage and middle-market companies. State B’s latest investors join the brand in its mission to create the first-of-its-kind cannabis-infused functional beverage.
Young America Capital is a FINRA regulated broker dealer consisting of 65 bankers across the US, as well as in Europe and the Caribbean, approximately 20 of whom are seasoned professionals in the cannabis and hemp market. With hundreds of investors in the cannabis/hemp industry, they have established relationships with all the meaningful public cannabis companies, corporations and MSOs.
State B is a subsidiary of Brujera Elixirs Inc., a family of brands that includes a line of concentrated herbal tonics for the mixology market called Boozewitch, a line of sparkling functional beverages called Elevé (to be released in July of 2021) and a medicinal mushroom beverage called Shroom Boom (to be released in January 2022). State B merges together three trending elements in the international beverage category: functional, botanical and cannabis, to create 5 different ready-to-drink beverages.
In this way, State B will offer the public a product they have never seen before- one that can truly help the consumer to ‘elevate their state’.
State B is set to launch in California at the end of May and Canada at the beginning of June, 2021.
“As we go to market, it is absolutely wonderful to have the capable and respected team at Young America Capital work together with us to launch our new brands,” says Kelly Woods, CEO and founder of Brujera and State B. “Working together will provide us with welcome support in our capital raise so that our team can focus on building the brands across North America.”
Familiarity with beverages is helping bring new consumers to the cannabis beverage market, as well as attracting legacy consumers who understand the harm that comes with smoking and vaping, yet still want to experience the benefits of both THC and CBD. Beverages are also acceptable in social situations in ways that smoking and vaping simply is not. There is also a growing number of consumers who want to shift away from alcohol towards an option that is low-cal and that eliminates hangovers.
“Low and no-alcohol beverages are the fastest growing beverage category- flourishing at the expense of traditional alcoholic and sugary drinks. Consumers are waking up to the fact that they can grab a great-tasting, premium beverage without loading up on calories or artificial ingredients, and State B is the perfect choice,” says Sean Santa, investment banker with Young America Capital. “The beverage market is beginning to mirror the future of food: wellness and self-care oriented and nuanced in taste and consumer appeal.”
Leading cannabis market data firm Headset has recently reported that cannabis beverages are poised to capture additional market share year over year, with many industry analysts expecting large gains. According to data from Headset, cannabis beverage sales increased by 40.3% in 2020 versus 2019 in 5 states (California, Colorado, Nevada, Oregon, Washington), from $67.8 million in 2019 to $95.2 million in 2020. That growth outperformed the growth of the general cannabis market, which grew 39.4% over the same year in those 5 states.
About Brujera Elixirs Inc: Founded by Kelly Woods, Brujera Elixirs is a family of beverage brands based on harnessing the healing power of plants and mushrooms and delivering them to consumers in a way that is both convenient and delicious. Through her decades of experience as a master mixologist, sommelier, distiller, and herbalist, Woods has crafted a series of innovative products that are providing consumers with a way to optimize their health and elevate their states of being.
SOURCE State B Beverage Co.