Why we are raising funds through an Initial Coin Offering
Well, for one, we are Millennials, and two, there really isn’t another good way for a small cannabis business to raise funds and compete with the big boys without feeling like you need to sell out to the highest bidder.
The problem with cannabis capitalists and monopolized, corporate cannabis is that increasing shareholder value will almost always come before the needs of the end user — the medical patient, recreational user, or connoisseur.
Three of the most fascinating things about a “decentralized” system when it comes to crowdfunding, is 1) it eliminates any third-party that would normally charge a fee to process a donation or could become a potential roadblock, 2) it lets anyone in the world contribute to a project, or participate in an ICO, regardless of their socioeconomic status or political access — given that they can navigate the interface, which, once learned, is more intuitive and transparent than most traditional banking transactions — , and 3) it allows the company to remain completely autonomous and independent while raising capital.
We believe this levels the playing field for both companies seeking funds and people looking to invest in companies they believe in. While providing more people access and opportunity to both funding and investment, crowdfunding via cryptocurrency is anti-establishment— it gives power back to the founders.
Why not raise funds on a crowdfunding website? (we tried!)
We knew from the start that the name Chicago “Cannabis” Company would be challenging for many reasons. However, as an early adopter in Illinois, we chose the name Chicago Cannabis Company with the intent to:
- De-stigmatize cannabis use;
- reintroduce the terms “industrial cannabis”, “recreational cannabis”, and “medical cannabis” into our vocabulary; and
- provide economic opportunities for small farmers, disadvantaged communities, and Chicago’s neighborhoods that have been negatively impacted by “the war on drugs.”
We have no ambition to become a commercial weed giant that can then undercut and ultimately force small growers and family-owned farms out of the industry. On the contrary, our impressum or company motto is “Collaboration over Competition.” We want to create mutually beneficial partnerships that will allow craft cannabis farms to thrive under the Midwest Cannabis Organization, a smart contract program designed by Chicago Cannabis Company (CCC).
How will CCC be different from traditional corporations:
- 100% employee-owned
- We will hire people with past cannabis convictions on their record
- We will establish an incubator to provide startup funds and consulting advice to minorities looking to start their own cannabis businesses
- A percentage of our profits will go to legal services to help people expunge cannabis convictions or file appeals to reduce prior cannabis convictions
We need your help raising startup capital.
This is our version of a Kickstarter — we are asking you to donate to kickstart the company!
Chicago Cannabis Company is seeking funding to:
- Establish its own legal industrial cannabis farm in Illinois
- Establish its own industrial cannabis processing facility on the South or West Side of Chicago
- Purchase a warehouse space to house the Chicago Cannabis Co. Hemp Lab & Hemp Cultivator
In exchange for a $10-$1,000 contribution, you will receive 420–42,000 Chicago Cannabis digital tokens. You can hold on to your tokens and redeem them for merchandise in the future, or you can use your 420 tokens to get a $10 discount code on your next order. The funds will help us grow Chicago Cannabis Company, and pay for permits, legal fees, and initial equipment.
Is Chicago Cannabis Coin (CHIC) worth anything?
No, as it currently stands, CHIC(🌿) is not exchangeable; it is not yet listed on a major cryptocurrency exchange where it can be bought or sold. We are in the process of preparing for the ICO, after which the token will be listed on cryptocurrency exchanges where CHIC can be traded for other currencies. Most ICO’s start with a pre-sale, where priority access to token allocation is given to existing community members or early signups.
With that being said, to avoid breaking SEC regulation and being labeled as a security, we are creating a functional token that isn’t merely a cryptographic stock. In other words, you are not buying shares of the company when purchasing CHIC tokens.
However, imagine if you could pay for products at Chicago Cannabis dispensaries with CHIC coins. For example, 1 ounce of Chicago craft cannabis would cost 420 CHIC. And some strains can only be bought with CHIC. Additionally, contracts between Chicago Cannabis Company and craft cannabis farmers can be based in blockchain and Chicago Cannabis Coin.
Want to be part of our journey?
We are simplifying the pre-ICO sale process so folks new to cryptocurrency can more actively participate. This may go against the grain and will require a building of trust between the public and our team.
How it works:
We will issue a maximum of 4,200,000 CHIC(🌿) in the pre-sale (June 8, 2018-July 20, 2018)
- 420 CHIC = $10 (or ETH equivalent)
- 4,200 CHIC = $100
- 42,000 CHIC = $1,000 (MAX purchase per person)
How do you receive your tokens?
First, you should create an Ether Wallet. An Ether Wallet will enable you to receive and send ERC-20 tokens. (It’s a lot simpler than it looks.)
Select a password and click “Create New Wallet”
Save this file to a secure place — you will need this to access your wallet.
Save your Private Key —just another way to access your wallet — in a secure place. DO NOT SHARE THIS KEY WITH ANYONE.
Print your “paper wallet” as backup and save it to a secure place. Again, do not share your private key. YOUR ADDRESS is what you will send to people to receive tokens and payments.
Select your purchase amount.
Complete your secure payment via our website. Alternatively, you can pay with BTC, ETH, LTC, or BCH using an existing ERC-20 compatible wallet.
Once your payment for CHIC(🌿) is received, we will e-mail you to ask you to provide your PUBLIC Ether Wallet address. If you paid with an existing ERC-20 compatible wallet, we will send it directly to that address.
Receive your CHIC🌿.
Chicago Cannabis Co. Team — From the Ground Up —
Chief Grower | GRO-OP Lead
Christopher’s passion for plants and people is reflected through his principles, actions, and work. After studying herbal medicine for two years in his hometown of Chicago, Christopher began a full-time land Steward position with a nature sanctuary in Northern Indiana which lasted four years. In 2016 while transitioning back to Chicago, Christopher completed a permaculture design course, the first to be held within the city. Chris’ focus will be designing sustainable solutions that create effectiveness — the next frontier of “conscious cannabis.” Sustainability in cultivation includes reducing energy consumption and waste, creating closed-loop systems, and incorporating regenerative farming practices.
Mother Sativa | Head of Education and Outreach
Nicollette has a passion for education, community outreach, and informing consumers about safe and responsible cannabis consumption. She looks forward to coordinating with communities to educate people on the many uses of cannabis through event planning and facilitating informative sessions. What Nicollette loves most about the cannabis community is it’s foundations in compassionate care and the community’s goals of inclusiveness. She believes women and people of color should be equally represented and valued, not just as consumers of cannabis, but also as leaders of the industry. She strives to live and share a holistic, natural lifestyle and that is reflected in the products she helps produce. She plans to take a hands-on approach in driving the company’s outreach mission, and is eager to learn about cannabis cultivation and the plant’s medicinal properties.
Director of Ops | Head Flower
Tom is a strategic thinker with a passion for creativity and innovation. Tom understands how to drive an organization’s growth initiatives and manage a multi-disciplinary team. Tom is passionate about providing a high-quality product at an accessible price. He believes education and transparency about cannabis cultivation and distribution leads to safer consumption and that complete legalization and some de-regulation of cannabis is crucial so that everyone can benefit equally. He strongly believes in building equity in the cannabis industry and is dedicated to making high-quality cannabis more affordable for patients and consumers over maximizing profits for shareholders.
Canna Architect | Canna Engineer
Canna Engineer combines power delivery knowledge, cannabis cultivation expertise, and HVAC proficiency with intensive project management experience. Working closely with our Gro-Op Lead, Canna Engineer will build synergies between our zero-waste cultivation, regenerative practices, and sustainable energy delivery.