SANTA CRUZ, Calif., Jan. 06, 2020 (GLOBE NEWSWIRE) -- Goldenseed, a California lifestyle cannabis and hemp brand and cultivator, today announced the qualification of its stock offering by the U.S. Securities and Exchange Commission (SEC), effectively enabling the general public to invest in Goldenseed at an early stage - an opportunity typically available only to high net worth individuals and well-connected investors. Goldenseed is the first U.S. private cannabis cultivator and processor ever to be qualified by the SEC to sell its stock to the general public.

The live offering provides investors of all walks of life with a chance to invest in Goldenseed for as little as $100.00. “Goldenseed is a company that develops high-quality cannabis and hemp products for everyday American consumers, and what better way to reflect that ethos than by welcoming them into our community as more than just customers, but also as owners,” said Scott Goldie, CEO of Goldenseed.

The cannabis sector is described by many as high growth, with overall sales in the legalized U.S. cannabis industry expected to reach $13.6 billion throughout 2019, for a 32% increase over 2018 totals of $10.3 billion. Total revenues through the 33 legalized U.S. states are expected to reach $30 billion by 2025.

“Like other high growth industries before it, we believe the cannabis sector’s massive upside currently is being capitalized upon only by wealthy, accredited investors and those with Silicon Valley or Wall Street connections,” said Goldie. “By contrast, we believe that those who appreciate our products and our California lifestyle brand deserve the same chance to invest and join us in what we plan to be a long corporate trajectory.”

Goldenseed intends to use portions of the net proceeds from the stock offering toward expansion of its facilities, capital improvements, debt reduction and marketing, all of which support the company’s core focus on:

  • Sustainable farming. Goldenseed’s farming and greater business initiatives include utilizing Envirocann-certified growing processes; not using conventional fertilizers, pesticides or herbicides;  the use of biochar to generate a socially and ecologically responsible plant food; and the benefits of their worm farm built onsite with 16,000 pounds of red wiggler worms that create living soil, rich in microbial and fungal life.
  • Scalable production. While currently in more than 50 dispensaries, Goldenseed is built for the long term, as the Santa Cruz farm can grow as large as 440,000 square feet of greenhouse space, potentially becoming one of the largest growers of greenhouse cannabis in California. The company’s hemp production capabilities include an 80,000 square foot climate controlled facility that is presently processing the company’s first harvest of more than 50,000 pounds of high-quality hemp. Goldenseed’s hemp cultivation alone spans over 90 acres of Santa Cruz farmland and more than two acres of seed production that could produce as many as several million seeds.
  • Product development. Goldenseed’s first product to market in 2019 won the High Times Cannabis Cup for best pre-roll and more recently first place at Hempcon. Current products in the production cannabis pipeline include additional pre-roll strains, flower, terpenes and tinctures and topicals. Hemp products include hemp cigarettes, biomass, CBD products and a collaboration on a hemp clothing line and will continue down the same path of the company’s goal to create high quality products in the cannabis and hemp space while building their California lifestyle brand.

Goldenseed’s stock offering will be held under Regulation A, a law passed as part of the 2012 Jumpstart Our Business Startups (JOBS) Act that allows small and emerging companies to raise capital by selling stock online through equity crowdfunding. Before the JOBS Act, 80 years of securities law prevented the general public from investing in early stage private companies like Goldenseed. This process is being led by Kendall Almerico, a noted securities attorney and crowdfunding expert Forbes named one of the top Regulation A attorneys and JOBS Act experts in the country. “It’s exciting to be a part of the first private, U.S. cannabis growing company qualified by the SEC to sell stock to the general public.  This is what the JOBS Act was all about – giving everyday folks in the general public a chance to act like venture capitalists and the rich investors on Wall Street who have been allowed to invest in companies at an early stage before the company is either acquired or holds an IPO,” said Almerico.

About Goldenseed

Goldenseed is a California lifestyle cannabis and hemp brand focused on the cultivation, manufacturing and distribution of high-quality cannabis and hemp naturally grown in Santa Cruz, California. Deeply rooted in the California culture of artists, surfers, innovators, and diverse communities, Goldenseed aims to deliver quality products to a discerning clientele. For more information on Goldenseed, visit www.gseed.com, and follow the brand on Facebook, Twitter or Instagram.

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