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Crest Meridian, LLC

5720 Alder Ave Sacramento CA 95828



About the company

You can have the greatest idea in the world, but unless the right team and processes are in place to execute, even the best ideas will not succeed. Our team is our strongest asset. There are three managing members comprised of a CEO and two Chief Cultivation Officers. The CEO comes from a non-cannabis background having successfully started multiple companies, which have generated annual revenues in the millions. He specializes in marketing/branding in competitive spaces as well as creating efficient processes to optimize the cost of manufacturing.

The other two managing members are expert growers having run over 10,000 square feet of cultivation each in indoor, mixed light and outdoor settings. They have built a reputation over their 14 years of experience in NorCal as producing highly sought after products, which typically yield top dollar from the market. Their relationships have also produced 3 executed LOI's/distribution contracts to show demand for the crop they have yet to produce out of this operation.

All three managing members understand the importance of having flexibility in their vision and having the ability to pivot to meet the demands of the market. This is a crucial quality in the ever-evolving cannabis industry. Those that are not willing to re-evaluate their approach, methodology, and processes will be left behind when commoditization sets in. Please refer to the meet our team attachment in the supporting documents section for more granular information on the partners.

Team

Market

The market in California for a top-shelf indoor flower producer is arguably as good as anywhere else in the nation. This assumption is based on a rich culture of flower connoisseurs embedded in Californians for two decades via a recreational market masked as a medical one. Though flower has lost market share to other segments such as concentrates, edibles, etc., it still maintains significant demand in dispensaries. What has fallen off in the segment is outdoor and greenhouse flower which has mostly been turned into extractions. The precedent is seen in other markets like Colorado where prices have been plummeting for years on everything except top shelf indoor flower, which has not only stabilized but has gone up in the last year. The belief here is that California will follow suit. https://reports.cannabisbenchmarks.com/

Now, let’s assume the $2,200-$2,500/lb in the current indoor flower market does not last and commoditization drives prices down; that is when the cream will rise to the top. The competition will become real, just like in the rest of the industries of the world, and operators will need to know how to run an efficient business, which can sustain a price drop as low as $1,000/lb or lower. Crest Meridian is projecting sub $500/lb cost of production out the door. Moreover, the best part is that if there should be a glut in the market or other unforeseen challenges with demand, then Crest surrenders the product to the extraction side of their facility and creates products, which are most in-demand through manufacturing. In the meantime, the manufacturing side will start processing white label flower purchased from outdoor operations as well as the trim and littles from Crest's cultivation.

Crest Meridian is proud to have three distribution contracts/LOI's with local distributors to show interest in the quality of product the team has the reputation of producing. As well, the company is building its brand well in advance of coming to market on Instagram with over 2,000 followers already and growing fast @crestmeridian. https://www.instagram.com/crestmeridian/

Opportunity

Crest Meridian owns a 28,000sq. ft facility in Sacramento. This will house 22,000sq. ft for cultivation canopy, 2,300sq. ft for manufacturing/processing/packaging space and a self-distribution operation. Crest will implement a vertical 2-tier LED canopy which allows for the efficiency in the footprint of the layout to have space for all three facets.

The partnership for Crest consists of 2 expert growers (CCO's) with 14 years of cultivation experience each (indoor, full season and mixed light) and a CEO who brings 15 years of successful business experience outside of the cannabis space. The Company has raised $4.4mm already and needs another $4mm in this Series A round to complete its build-out, purchase equipment and maintain an operating fund as the company positions to produce revenue.

-Crest Meridian coming to market 2020-

Financials

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Documents

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Risk disclosures

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