New Cannabis Accelerator Combines Social Equity With Merit

SoEquity Corporation logo

LOS ANGELES and SPRINGFIELD, Ill. — Health Advance Inc and strategic partner SoEquity Corporation have approved their first social equity cannabis license owner, InLabs2 LLC of Springfield, Illinois, to participate in a unique new opportunity accelerator program. The approach taken by the Health Advance / SoEquity alliance has positive implications for participating public shareholders, the legal cannabis sector, and for society.

The partners are boosting the business success of social equity cannabis license owners through targeted mentorship and funding, and passing those benefits through to their public investors. SoEquity founder and CEO, Calvin Frye, is acknowledged by regulators as an expert in this pursuit.  Frye has been showcased by the Los Angeles Department of Cannabis Regulation and government legislators nationally.

Advertisement

By improving the success rate of social equity cannabis license owners,  the Health Advance / SoEquity accelerator program helps cannabis regulators achieve their goal of a thriving licensed community, while respecting social equity ownership objectives. This initiative is establishing a leadership role for Health Advance / SoEquity in a valuable limited access market.

InLabs2 LLC is a case in point. It was granted a Craftgrow and Infusion Cannabis License under a program promoting social equity ownership in cannabis business opportunities. Illinois manages a “capped” cannabis market that limits the number of licenses and enforces against unlicensed operators. The business model of the Health Advance / SoEquity alliance is to quickly identify qualified social equity license owners in states that have capped licensing, then deploy targeted expertise, mentorship and financing to maximize performance and to share in the unique competitive advantages enjoyed by those social equity cannabis license owners.

InLabs2 LLC  is led by Springfield’s William Bishop III, a former U.S. Marine with thousands of friends on Facebook and well-known locally. Agreement has been reached through SoEquity’s Frye to launch InLabs2 operations as a joint venture. The deal provides the Health Advance / SoEquity alliance with partial ownership in InLabs 2 LLC and profit sharing in return for the alliance’s mentorship and financial backing. Health Advance is helping to coordinate this deal and future transactions for SoEquity Corporation,  toward SoEquity qualification with the SEC for a $75-million public offering under Regulation A+. Public investors did not previously have access to social equity targeted deal flow within the cannabis sector before the Health Advance / SoEquity alliance initiative.

Bishop, CEO of InLabs2, commented, “Calvin is a pioneer. Thousands of people in the industry and in the community know him. That’s not even an exaggeration. I am really excited to be working with Calvin and his team. It’s been hard for me to secure capital and get the best advice in this space even though I have a terrific license and skills. Now, in the joint venture concept, Calvin’s track record becomes our track record. We grow together as a team, sharing the rewards with our new public shareholders. We are going to show them what we can do. This is going to grow, man. This is needed. It’s fantastic.”

Although InLabs2 LLC is the first joint venture approved by the alliance, there are more in the pipeline. Applicants are proving with their business plans that they have legal cannabis opportunities that are being wasted due to missing mentoring and financing.

SoEquity Corporation’s Frye commented, “I’m proud of the SoEquity mission to help an unserved entrepreneurial community get a fair shot at being prosperous within the cannabis industry while at the same time delivering exceptional financial performance. Our accelerator program combines merit and social equity for best results. It’s about smart business and doing the right thing. It’s  good for everyone. I am being approached a lot now, since the word got out about what we are doing. It’s big. I can feel it.”

President of Health Advance, Larry McLachlin, said, “Our alliance gives Health Advance shareholders huge upside. Calvin’s network is vast. What we are doing together is massively scalable. There is a lot of positive human energy around this. It has come together nicely. When SoEquity gets the Reg A+ funding, the whole thing will go to another level. We’ll have tons of developments to report to our shareholders. That’s important – continuous real advances to share – that’s gold.”

About SoEquity Corporation

SoEquity Corporation, whose credo is “Social Equity Capital Management for Profit and Progress,” has as its charter mission within the cannabis sector to serve a growing need among social equity cannabis business licensees to merge merit-based performance outcomes with a variety of social equity granted licenses in order to deliver profit opportunities and social justice. SoEquity Corporation will also be applying this model in other business sectors, such as food and beverage, in-store merchandising technology, and beyond.

About Health Advance Inc

Health Advance is a current information tier filer with OTC Markets in the Alternative Reporting Standards category. Health Advance Inc is organizing joint venture initiatives to realize the company’s charter mission to be active in the health and wellness oriented marketplace, broadly defined.

Advertisement