Your Board of Directors met at the brewery on September 6 and we made progress on several fronts. Here’s a quick rundown:
– We will soon be able to sell “Preferred Memberships”, which are essentially shares of stock in the cooperative. This is an investment opportunity and how we hope to raise a large portion of the capital needed to build your brewery. One of the regulatory hurdles we’ve been trying to jump for several months is setting up an escrow account, which is a state requirement. Range Bank has agreed to help us with this and we’ll be moving the cooperative’s bank accounts to Range Bank in the near future. When the investment opportunity is available we’ll announce it here and on FaceBook. There will be lots of details to share then.
– You may have notice that our big sign outside the brewery, featured in the last board meeting update, is not up. We’ve been waiting on approval of our sign permit application from the City of Marquette and hope to have that permit and have the sign up in a few days.
– We will soon be launching a Kickstarter campaign with the goal of raising the money needed to buy our brewhouse equipment. We hope to purchase a dual single vessel, electric, 2 barrel capacity system from Colorado Brewing Systems that costs about $10,000.
– We currently have 120 members. We will soon be launching another membership drive and have decided to offer an insulated stainless steel growler to the next 100 members. The growler will have an “Inner Circle” logo on it and all existing members at the end of this campaign will be designated “Inner Circle” members. Existing members will have an opportunity to buy one of the Inner Circle growlers.