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Portland Brewing offers public shares in Washington state.

Portland Brewing became the first microbrewery in the Pacific Northwest to publicly offer stock ownership last week.

The Oregon-based brewer announced that shares of common stock would be sold to residents of the State of Washington.

Funds from the stock sale will be invested in brewing equipment, pub improvements and working capital for the company's existing brewery and its new 27,000 square-foot brewery, scheduled to come on line this month.

The minimum investment is 100 shares at $5 a share. The shares will be sold directly by Portland Brewing to preserve as much capital as possible for company use.

"This offer will help us expand our capacity and at the same time allow more beer lovers to become associated with Portland Brewing," said Tony Adams, president and chief executive officer of the company.

One Portland Brewing product, McTarnahan's Ale, won a gold medal as the best American Amber Ale last October at the Great American Beer Festival.
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Title Annotation:Portland Brewing Co.
Publication:Modern Brewery Age
Date:Apr 5, 1993
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