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Press Release

Cheers, Leader in Alcohol-Related Health, Initiates Crowdfunding Raise Aiming for $5 Million to Expand Into Retail Nationwide.

With $25M in sales and 13M doses sold since 2017, the Houston-based company sets sights on fundraising round through crowdfunding platform StartEngine.

March 8, 2021

KEY TAKEAWAYS

HOUSTON (March 15, 2021) -- Today, Cheers, a leading alcohol-related health brand, announced that it will launch a Regulation Crowdfunding campaign on StartEngine to raise up to $5 million in funding, the highest amount a company can secure under the newly revised Jumpstart Our Business Startups (JOBS) Act that allows companies to raise equity through both accredited and non-accredited investors.


“The exponential growth that Cheers has seen since our inception exemplifies the need we are meeting through our brand of alcohol-related health products ranging from liver support to feeling better the day after drinking.  With over half of Americans consuming alcohol regularly, we are confident that the Cheers family is ready to grow in terms of both the products and services we offer in the category, as well as where they can be purchased,” said Brooks Powell, CEO and founder of Cheers. “This round of funding will enable our team to create an extensive line of products meant to further our company’s mission of bringing people together by promoting fun, responsible, and health-conscious alcohol consumption.”. Through this fundraising round, potential stakeholders will be investing in an organization that is changing the way people think about the intersection of alcohol and health. The fact of the matter is that people want to be able to consume alcohol without throwing health-consciousness out the window, and we’re helping to make that a reality. .”


Cheers launched in 2017 after Powell, a graduate of Princeton University, spent years working with professors from fields ranging from neuroscience to biotechnology to understand the power of Dihydromyricetin (DHM) and its effects on alcohol. In 2018, Cheers, then known as Thrive+, made an appearance on ABC’s “Shark Tank.” Cheers continues to experience steady growth with over $25 million in sales and 13 million doses sold since its inception. By leveraging a new patented technology exclusively licensed from a top ranked Ivy League university, Cheers is poised to serve consumers focused on maintaining a healthy lifestyle even as they consume alcohol in ways that no other company can. Cheers is uniquely positioned to tap into the $220+ billion US alcohol industry.


“This next phase of growth is a pivotal and exciting time for our entire company. Cheers is pioneering an entirely new category in alcohol-related health, and our expansion into retail will set the standard and position us as the clear leader in this space” said Dalia Steichen, creative director of Cheers. “Our vision is to help shape a world where everyone can enjoy alcohol throughout a long, healthy, and happy lifetime. Our focus on function-first products in a form-first industry paired with our commitment to education and emphasis on health is what sets us apart and brings customers back time and again to a brand they can resonate with and trust.”


Following the launch of the fundraising initiative, Cheers plans to release a beverage version of the popular Restore supplement in Q2 of this year utilizing the company’s new bioavailability enhancing technology. This beverage will be the most innovative  DHM-based product on the market, and will be the driving force behind Cheers’ expansion into retail. The  vision is for Cheers to be used any time someone consumes alcohol—whether it’s a single drink or many. For more information, visit cheershealth.com. To invest in the future of Cheers visit startengine.com/XX. 

References

About Cheers

Cheers is the leading alcohol-related health brand focused on developing products that support your liver and help you feel great the next day. As a student at Princeton, Cheers’ founder Brooks Powell discovered the potential advantage of incorporating the natural plant extract Dihydromyricetin (DHM) into an after-alcohol consumption regimen and began working with his professors to make products that addressed the unique challenges of alcohol-related health. . Since its official launch in 2017, Cheers has sold more than 13 million doses  to over 300 thousand customers. The research-backed line of products includes three versions of supplemental pills and powders – Restore, Hydrate and Protect. Cheers is now releasing read-to-drink versions of their products—starting with Cheers Restore. Each product is equipped to meet different health needs such as rehydration, liver support, and acetaldehyde exposure. Cheers places an equal emphasis on the responsibility and health aspects of its mission and vision. The brand’s mission is bringing people together by promoting fun, responsible, and health-conscious alcohol consumption. The vision is a world where everyone can enjoy alcohol throughout a long, healthy, and happy lifetime. For more information, visit cheershealth.com or join the social conversation at @cheershealth.

These statements have not been evaluated by the Food and Drug Administration.
These products are not intended to diagnose, treat, cure or prevent any disease.