- RED Mountain’s Crowdfunding Close to Closing
Chance to “Fight The Man. Own The Mountain.”
BC – March 2018 / Newsmaker Alert / Two
years ago, seeing how the industry continued to change and evolve at a
rapid rate, RED Mountain CEO Howard
Katkov hatched a plot to disrupt the ski resort world from his own little
corner of BC. In an industry that had seen unprecedented acquisitions,
mergers, and consolidations in the last few years, the campaign, “Fight
The Man, Own The Mountain” offered an alternative for passionate skiers
and snowboarders to be a part of.
going quiet with the press and our database over the last couple of months,
we’ve continued to see steady investments on both sides of the border,”
says Katkov. “People still want to be a part of this historic crowdfunding
effort and unique community. People are definitely talking…whether they’re
from Vancouver or Alabama (seriously).”
campaign began accepting investment commitments in August, 2017 after gauging
interest through a ‘test the waters’ campaign on Startengine.com
and Frontfundr.com the previous year.
By December 1st, 2017, on the cusp of what has been another massive winter
on the hill, RED Mountain hit its first target of $1.5 million. With an
intentionally low minimum investment of $1,000, Katkov and Co. wanted skiers
and snowboarders from all different financial abilities to be able to invest
in a company and lifestyle they truly believe in. And so far, they have
been with us every step of the way.
By The Numbers:
2, 2018 marks the end of the ski season at RED, and represents the very
last chance for skiers, snowboarders and other investors to own a part
of history. RED is the oldest ski resort in Western Canada and has a rich
history full of cranks, characters, and bon vivants. “Fight The Man, Own
The Mountain” represents the first time ever a for-profit ski resort has
offered actual ownership of all assets through crowdfunding and the cross-border
campaign has been featured in Powder, Bloomberg, Pique, TransWorld, The
Globe & Mail and others.
over 650 individual investors
from at least 42 out of 50 states have invested—for a resort located in
about 25%-35% of investors have never even visited RED!
March 1st, 2018 completed and pending investments have totaled $2 million.
growing passion for independence in skiing is real,” says Katkov. “And
investing in RED is casting a ballot for not just independence, but for
a welcoming community and culture that someone truly wants to join as part
of a family. It’s a place I’ve been beyond proud to co-own and captain
since 2004 and now the door is open to almost anyone to share that feeling.
Despite the friendly atmosphere, this is also one of the Top 20 resorts
in North America in terms of terrain. Plus, the snow’s unreal…with over
20 feet of snowfall thus far this season!”
the $2 million already committed and invested, RED wasted no time acting
on promised improvements. These upgrades - so far - have included a full
remodel of fan favorite Paradise Lodge (incl. flush toilets!) as well as
the expansion of its retail and High Performance centres. This summer we’ll
also see the construction of overnight on-mountain cabins and the investor
clubhouse (plus friends!).
get the sense that we have another 500 potential investors out there who
are playing wait-and-see…” says Katkov. “They’re holding out ’til the last
minute to see if the campaign will be successful. Well, here’s my two cents:
it already is! We’ve raised a respectable level of investment dollars
and have already started re-investing those funds in on-mountain improvements.
Old and new fans of RED have come out of the woodwork to support us with
kind words and their hard-earned money. The best part is that folks have
been reminded just how special this place really is. They want to hold
onto that feeling forever, share it with their kids. They want to protect
it. We couldn’t agree more.”
you want to throw down for independent skiing and snowboarding, do it now
before it’s too late. Even the smallest $1,000 investment tier comes with
additional perks and there’s no other place like RED Mountain on earth.
offering statement regarding this offering has been filed with the SEC.
The SEC has qualified that offering statement, which only means that the
company may make sales of the securities described by the offering statement.
It does not mean that the SEC has approved, passed upon the merits or passed
upon the accuracy or completeness of the information in the offering statement.
The offering circular that is part of that offering
statement can be viewed here. You should read the offering circular
before making any investment.
RED Mountain Resort
is the last great, unspoiled resort. Located in Rossland, BC, 1st stop
on Canada’s famous Powder Highway, RED delivers 2,877 acres of pristine,
unfettered skiing. RED recently added nearly 1,000 acres of intermediate
to advanced terrain on Grey Mountain. With 7.6m of annual snowfall, (cheap!)
in-bounds cat-skiing, and the friendliest locals around, it’s no wonder
the New York Times voted us their #8 “Best Place in the World to Visit
in 2013.” Other recent wins include Powder’s “Ski Town Throwdown,” and
“Most Underrated Resort” by Skiing. Fresh turns that you don’t have to
fight for – that’s RED. Visit www.REDresort.com
for more information.
Mountain Resort, Planning & Development