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GET A PIECE OF COPPERWORKS DISTILLING COMPANY

Award-Winning Craft Distillery Expanding in the Seattle Area

Copperworks is a craft distillery, tasting room, and retail store in Seattle currently adding multiple new locations. As demand for our award-winning spirits rises, we plan to expand with new tasting rooms, cocktail bars and event spaces, and a major increase to our whiskey production.

This Reg CF offering is made available through StartEngine Capital, LLC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.

$606,532.31 Raised

REASONS TO INVEST

Led by a team with decades of industry experience, Copperworks has achieved nine years of successful operation with record spirit sales and whiskey production in 2022, and fundraising campaigns that have raised over $2.75 million.

Copperworks has two new locations in the works to increase customer engagement opportunities and create substantial revenue streams. One location is in the final phase of construction; the other is in the design phase.

Copperworks has dramatically increased production capacity by partnering with a state-of-the-art facility. We are now able to grow production to five times our previous capacity as demand for our award-winning spirits rises.


Lucrative Opportunities in a Growing Market

Copperworks was founded by craft brewers with more than 30 years of experience in the alcohol industry. We built our distillery to answer the question: how would spirits taste if they were distilled from superior craft beer (without hops) instead of the typical methods and ingredients of conventional distilleries? The answer led Copperworks to become a pioneer in producing American Single Malt Whiskey, a fast-growing spirits category with substantial national and international market opportunity.


*Expected increase as a result of partnerships and planned business activities

the problem


Currently Lack the Capacity to Meet Our Growing Demand and Opportunities

*Images are computer-generated demo versions. Expansion is currently under development.

The Market


Growing Opportunity in Craft Spirits


We believe Copperworks is well positioned to capitalize on the substantial and consistent growth of the craft spirits market and, more specifically, the American whiskey market. Combined, these two categories create an untapped market opportunity.



Sources: American Craft Spirits Globe NewsWire


Source: Forbes

Leaders in the Field

Copperworks was honored to be named the 2018 Distillery of the Year by the American Distilling Institute. Our whiskey and gin have won numerous awards in prestigious spirits competitions, including multiple Double Gold medals and consistent scores of 90+ points. (source



As an early innovator in the American Single Malt Whiskey category, Copperworks is an established leader and well-respected brand in this rapidly growing spirits category. The Alcohol and Tobacco Tax and Trade Bureau (often called the “TTB”) is in the final stages of approving American Single Malt Whiskey as a legally recognized whiskey in America. Copperworks was a founding member of the American Single Malt Whiskey Commission—the organization that drafted the proposed rules and organized the formal request to the TTB and one of the few remaining independent distilleries producing significant volumes of this type of whiskey.



Copperworks leadership team holds (and has previously held) prominent positions of leadership in the U.S. craft spirits industry. Copperworks President, Jason Parker, serves as an officer of the American Single Malt Whiskey Commission and as a board member for the Craft Maltsters Guild. Jason was also Board Chair for the Washington Distillers Guild. Copperworks Vice President, Jeff Kanof, serves as a board member for the American Craft Spirits Association and he has also served as a past officer of that organization.


Source: Waterfront Seattle, Seattle Business, Wikipedia

THE SOLUTION


A Multi-Pronged Expansion Is Underway to Meet Growing Demand


Our solution to increase production and customer experience opportunities includes three projects that are well underway:


*Images are computer-generated demo versions. Expansion is currently under development.

Source: Rails to Trails

*Images are computer-generated demo versions. Expansion is currently under development.

Source: Waterfront Seattle


WHY INVEST


A Successful, Established Operation with a Competitive Edge

The Copperworks team has significant experience building beverage production plants and providing outstanding customer experiences. 


Copperworks’ expansion plan will enable the company to grow into a major regional craft spirits producer with targeted national and international distribution and an attraction that offers world-class customer experiences in the downtown and greater Seattle area.


Copperworks' brand, team, and product quality are in an ideal position to capitalize on the rapidly expanding sales opportunities for American Single Malt Whiskey. Our expanded customer capacity and service offerings will enable the company to become one of the primary providers of spirits enjoyment and education in the Pacific Northwest. The market opportunities exist now, and Copperworks needs to expand now to take advantage of these and future growth opportunities. 


We invite you to join the exciting opportunity to bring Copperworks’ innovative, award-winning craft spirits and entertaining activities to as many customers as possible in the Pacific Northwest, U.S., and beyond.

ABOUT

HEADQUARTERS
1250 Alaskan Way
Seattle, WA 98101

Copperworks is a craft distillery, tasting room, and retail store in Seattle currently adding multiple new locations. As demand for our award-winning spirits rises, we plan to expand with new tasting rooms, cocktail bars and event spaces, and a major increase to our whiskey production.

TEAM

Jason Parker

Jason Parker

Co-Founder, President

Jason was raised in Kentucky and may have a touch of bourbon in his blood. Maybe that’s what got him into craft beer brewing in the early days before there was even a microbrew scene in Seattle. With degrees in chemistry and microbiology and a love of fine beer, he became the first brewer at Pike Place Brewery in 1989. He went on to refine his craft with Fish Brewing Company, Redhook, and work as Brewmaster at Pyramid Breweries. He partnered with Micah Nutt to open Copperworks in 2013. A long-time advocate for craft brewing, craft malting, and craft distilling, Jason served as Board Member and chair of the Washington Distiller’s Guild. He led Copperworks to become a founding member of the American Single Malt Whiskey Commission and now serves on the Board of Directors of the Craft Maltsters Guild.  

Jeff Kanof

Jeff Kanof

Co-Owner, Vice President

Jeff is a recovering attorney, having left his law firm job in New York City for the Northwest to focus on his passion for fine spirits. He cut his teeth in Seattle by helping to launch Letterpress Distilling. Always an avid beer fan, Jeff spent a month in Belgium seeking out some of the world’s best beers. His interest in complex flavors and craftsmanship led him to explore American whiskey. Countless bottles later, he realized he had fallen in love with spirits and the art of mixing drinks. Jeff joined Copperworks in time to help bottle the first batch of spirits and now directs sales and a huge range of other functions at Copperworks. He also serves on the Board of Directors of the American Craft Spirits Association. 

Micah Nutt

Micah Nutt

Co-Founder, Distiller Emeritus

With a background in computer programming, Micah has been a skilled and passionate homebrewer since the 1980s. He and Jason spent two decades homebrewing together before cofounding Copperworks Distilling Company. Micah oversaw the development of the distillery and headed the production department until his retirement. In 2018, Micah was named Distiller Emeritus, having trained several distillers to follow in his footsteps. He now enjoys traveling and spending time with his wife. Among his many talents is wood working; he rebuilt and refined the stunning antique bar featured in Copperworks’ tasting room in downtown Seattle. 

Thomas Paessler

Thomas Paessler

Head Distiller

Thomas joined Copperworks in 2019 after several years distilling at Sound Spirits Distillery, the first distillery opened in Seattle following Prohibition. Originally from Kentucky, Thomas came to the Pacific Northwest by way of Texas where his career in spirits began behind the bar. In early 2021, Thomas took charge of production operations at Copperworks. Driven by quality and with a clear passion for his craft, he is fascinated by the transformative process of distilling and sees “something very romantic about the relationships in nature and in distillation,” believing that the how and why of doing something is just as important as the technical process.  

Matt "Skinny" Roberts

Matt "Skinny" Roberts

Distiller

Hailing from Houston, Texas, Skinny made his way to Seattle in 2016. After a decade as a professional brewer, during which he oversaw barrel aging, special projects, and a recipe development program, Skinny made the transition to distilling by joining the Copperworks team. With a passion for quality and efficiency of process, Skinny takes pride in the act and art of creating. He enjoys building vintage motorbikes and vehicles, playing music, and spending time in the wilderness where he draws inspiration from the Pacific Northwest’s diversity of climates and scenery. 

Abigail Belknap

Abigail Belknap

Marketing & Communications Manager

Born and raised in bourbon country, Abigail recently transitioned from the Bluegrass to the Evergreen State. And, from bourbon to single malt whiskey. After studying journalism and teaching English abroad for several years, she realized her aptitude for storytelling and love for bringing people together through education or a bottle of whiskey. This led her back to her roots in Kentucky where she took her first official steps into the spirits industry at Castle & Key Distillery. After four years focusing on hospitality and sales, Abigail is excited to explore the world of marketing and communications at Copperworks.

Addison Frandle

Addison Frandle

Tasting Room Manager

Addison is a lifelong Seattleite and began his professional career with the Burke Museum of Natural History and Culture, bringing educational museum programs to schools around Washington. After impulsively taking an “Intro to Distilling” class, he began thinking of how to combine his passion for education with a newfound interest in craft spirits. After starting out as a tour guide and occasional bartender for another local distillery, Addison now oversees Copperworks’ tasting room and tour operations. His favorite part of the job? Being able to make other people’s days a little bit brighter while sharing his knowledge and stories. And the whiskey, of course. He appreciates that “every decision at Copperworks is made with our mission in mind, from our commitment to environmentally sustainable practices to prioritizing a fun, authentic, educational experience for all guests.” 

Jack Filipponi

Jack Filipponi

Special Projects

Jack recently moved from sunny San Diego to  Seattle in search of a new adventure. While studying and playing soccer at Whitman College in Walla Walla, Washington, Jack felt a connection with the Pacific Northwest and, after graduating in 2020, found his way into the spirits industry thanks to a fellow alumnus. Jack finds that when it comes to craft spirits, people are committed to producing an excellent product they are proud to share and he enjoys being part of the collaborative nature of the industry. He currently works on a wide variety of special projects at Copperworks and helps manage a soccer league in the Seattle area.  

Stefanie Goldstein

Stefanie Goldstein

Bookkeeper

Stefanie brings over 30 years of bookkeeping and accounting experience to the Copperworks team. She has previously worked for such esteemed organizations as the San Francisco Ballet, Lucasfilm, and Glide Memorial Foundation. A classical singer and voice teacher, she plays regular gigs in the greater Seattle area in a band alongside her husband.  

TERMS

Copperworks Distilling Company
Overview
PRICE PER SHARE
$0.60
DEADLINE
Jul 29, 2023
VALUATION
$15.62M
FUNDING GOAL
$10k - $618k
Breakdown
MIN INVESTMENT
$249.60
MAX INVESTMENT
$618,000
MIN NUMBER OF SHARES OFFERED
16,666
MAX NUMBER OF SHARES OFFERED
1,030,000
OFFERING TYPE
Equity
SHARES OFFERED
Non-Voting Common Stock

Maximum Number of Shares Offered subject to adjustment for bonus shares

Most Recent Fiscal Year-End

Prior Fiscal Year-End

Total Assets

$9,125,362

$3,711,026

Cash & Cash Equivalents

$104,390

$1,012,605

Accounts Receivable

$76,067

$84,725

Short-Term Debt

$2,161,529

$229,114

Long-Term Debt

$5,221,204

$1,663,565

Revenue & Sales

$1,030,662

$846,090

Costs of Goods Sold

$642,592

$471,000

Taxes Paid

$0

$0

Net Income

-$601,608

$630

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Investment Incentives & Bonuses*

Time-Based Bonuses

First 72 Hours

15% Bonus Shares

Next 72 Hours

10% Bonus Shares

Next Two Weeks

5% Bonus

Amount-Based Perks

$250 

Receive an invitation to quarterly investor updates, plus one complimentary distillery tour for you and a guest

$1,000

Your name is displayed as an investor at Copperworks Distilling, plus 10% off a single order + Each item from the previous reward tier

$2,500

Lifetime 10% discount on all purchases from Copperworks (excluding taxes and shipping fees) + Each item from previous reward tiers

$5,000

Lifetime of tastings of our core line of spirits for you and three guests in our tasting room + Each item from previous reward tiers

$10,000

One-week early access to all special, limited-edition releases, plus an invitation to join our team for a single taste panel session (virtual or in-person) + Each item from previous reward tiers

$15,000

Private distillery tour for up to 15 people, including cask tastings and light appetizers with a Copperworks co-founder + Each item from previous reward tiers

$25,000 

Spend a day with our distillers, including lunch (or dinner) with a member of our leadership team + Each item from previous reward tiers

$50,000 

Help select a single cask of whiskey to be bottled and sold to the public + Each item from previous reward tiers

$100,000

Receive an invitation to join our board of advisors + Each item from previous reward tiers

*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus shares from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.

Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any).

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments. Inter company debt or back payments.

PRESS

Article Image
Forbes

Why You Should Explore Washington’s Whisky Distilleries

Article Image
The Whiskey Wash

Copperworks Releases Its Largest American Single Malt Bottling To Date

Article Image
The Seattle Times

Seattle whiskey company named best craft distillery in America

Article Image
The Spirits Business

American single malt definition could boost growth

Article Image
The Whiskey Wash

Interview: Copperworks Talks American Single Malt Made With American Peat

ALL UPDATES

REWARDS

Multiple investments in an offering cannot be combined to qualify for a larger campaign perk. Get rewarded for investing more into Copperworks Distilling Company.

JOIN THE DISCUSSION

0/2500

JK
John Kingsbury

2 months ago

When I go to submit my investment, it says "Join the Waitlist" instead of "Submit investment." Have you reached maximum investments already?

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JH
Jeffrey Henderson

2 months ago

How do I monitor and eventually cash out my investment?

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CT
Croix Thompson

2 months ago

Do you guys plan on having a cask investment program?

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MB
Matt Bruno

4 months ago

There have been a few notes on the discussions about potentially being acquired down the road as a potential payout for investors. With that in mind - can you all share your exit strategy a bit? Is there a target date or price you have in mind etc?

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JR
Joshua Reeves

5 months ago

Will the "10% off all purchases" apply to things like food, merchandise, non-Copperworks beverages, etc. at the Kenmore location? Or is it only on purchases of Copperworks spirits?

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CH
Charles Hubbard

5 months ago

Out of curiosity, and there is no right or wrong answer that I’m looking for, forward thinking: When the spirits reach maturity, the storage is full, inventory is maxed and you are profiting from multiple revenue streams, life is good… as an investor, is it reasonable to anticipate cash dividends on our end? (10-20 years down the road, whenever that happens, this is just theoretical) or will it be anticipated that profits will be reinvested in things like new locations nationally, where we need to sell our shares in the secondary? IPO? Acquisition? I know that’s far to plan, but I’m curious as the founders/owners, what is y’all’s future anticipation for investors (and yourselves) to recoup the investment.

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CH
Charles Hubbard

5 months ago

What is your plan for relieving the current 2.1m of short term debt? What is the cause of your -$600k net income last year, versus the positive net income of $600 the year prior? What do you feel is the best plan for increasing revenue/sales in the next year? What is most direct and likely to work?

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MA
Michael Addison

6 months ago

I invested during your first crowdfunding. I have 4464 shares and I am at tier 3. If I reinvest at this time can my shares be combined to move upto tier 4. What is the process to do this if it is possible.

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MS
Michael Stanis

6 months ago

Do you have plans to produce burbon? I see you have whiskey but I am curious if you’re planning to produce burbon also.

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AB
Andrew Brickson

6 months ago

Can you provide insight on the planned use of this round of raised funds and any implications of the upcoming Lender Micah Nutt, $1,677,387, debt due on 11/9/23?

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PREVIOUSLY CROWDFUNDED
$2,705,642.14
RAISED
$606,532.31
INVESTORS
346
MIN INVEST
$249.60
VALUATION
$15.62M

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