Company: IPST
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001641172-25-009076
Chunk: 129

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-07
Form: POS AM
Chunk 129
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 tribes in the U.S. operating              
 524 gaming operations in 29 states, generating annual revenues of approximately $32 billion.          
 In most counties across the U.S. in which there are tribal casinos, the casinos are the largest       
 accounts for spirits, beer and wine in such counties. We believe a significant percentage             
 of the millions of visitors collectively visiting those tribal-owned operations will patronize        
 Heritage-branded TBN distillery tasting rooms to sample and consume cocktails, sign up for            
 one or more of our subscription-based member programs and purchase bottles of spirits to              
 go. Under this model, the tribes exercise their tribal sovereignty and enter a new business           
 with significant revenue and margin potential. The TBN model also includes us working with            
 each of the participating tribes to develop their own unique brands to feature in their properties    
 and regions. We believe the TBN model is unique in the adult beverage industry. To set up             
 this network, we have leveraged the role of our Chief Executive Officer in overturning in             
 2018 a 184-year-old law prohibiting Native Americans from distilling spirits on tribal lands.         
 We designed the TBN to assist Native American tribes in developing a new business, complementary      
 to their existing casino and entertainment businesses, to attract new visitors and consumers.         
 By working with us, tribes get access to our expertise and our full portfolio of brands.              
 We believe this is a significant new business opportunity for tribes with the potential for           
 strong revenue and profit growth, allowing tribes to capture the full margin benefit as manufacturers 
 and the ability to collect and keep state spirits taxes for products made and sold on their           
 sovereign land. We have already entered into agreements with multiple tribes, including agreements    
 for a new Heritage Distilling branded tasting room that opened at the Stillaguamish Tribe’s           
 Angel of the Winds casino north of Seattle, Washington in October 2024, the ongoing construction      
 of a Heritage Distilling-branded tasting room at the Tonto Apache Tribe’s Mazatzal                    
 Casino in Arizona, which is anticipated to open in late 2025, and a landmark agreement between        
 the Coquille Tribe of Oregon and the Oregon Liquor Control Board to allow for the first tribal        
 distillery in Oregon. A Heritage Distilling-branded tasting room is under construction and            
 scheduled to open in late 2025 at Coquille’s Mill Casino Hotel & RV Park on the                       
 water in Coos Bay, Oregon. This is the first such agreement between a Native American tribe           
 and one