Category Archives: Online Funding Campaigns

Fans donate over $500K to Vancouver’s independent Rio Theatre so it can buy its own space

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The Star Vancouver | By | Apr 17, 2018

Corinne Lea, who owns and operates the movie theatre, is starting a new non-profit to help other arts and culture organizations grapple with the city’s affordability crisis.

VANCOUVER — After raising over half a million dollars, the Rio Theatre’s crowdfunding campaign has come to a close, and business owner Corinne Lea is already working to pay it forward.

The Vancouver Art House Society, a newly formed non-profit will manage the money raised through Lea’s campaign, and attempt to purchase the building so that the movie theatre business can continue to rent it out indefinitely. Following the purchase of the building, the VAHS will be looking to see how it can help other struggling arts groups in the city.

“Just like we did with the Rio, we could do for others,” Lea said, explaining that the organization could help with fundraising campaigns for other arts and culture spaces.

One of four remaining independent movie theatres in Vancouver, the Rio Theatre came under threat this winter when the property owners announced they had put the East Broadway building up for sale.

See:  Etherparty Announces Global Crowdfunding Contest Valued at $300,000

Panicked, Corinne Lea began rallying with community members to raise $3.5 million for a down payment on the building. The crowdfunding campaign drew to a close late Monday night with over $500K, making history as the highest-funded campaign to save a theatre through Indiegogo’s fundraising platform. As for the rest, Lea said she will be turning to private investors.

In the midst of the fundraising chaos, Lea and others launched the VAHS and if all goes according to plan, the new non-profit will become the owner of the building.

David Duprey sits on the VAHS board and has been closely involved with its launch. He is the owner of several Vancouver bars — including The Rumpus Room, The Narrow Lounge, and The Emerald Supper Club — and wants to see creativity thrive in Vancouver.

“There’s a lot of stress out there for a lot of art spaces, I mean Red Gate’s about to have to move and the Beaumont’s got $100,000 in property taxes it has to pay a year,” he said.

The VAHS, Duprey said, will help organizations and businesses find and attract investors and advocate for art spaces at city hall.

Despite Lea and Duprey’s forward-thinking, there’s still a lot to be done to save the Rio Theatre, the VAHS’ first project. Lea said that despite the generous offers from private investors, she still needs to come up with at least $1 million for the down payment before May 7.

Challenges aside, community members remain hopeful.

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The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry in Canada.  For more information, please visit:  www.ncfacanada.org

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The Wait for Grams: Why Telegram Might Just Cancel Its Public ICO

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Coindesk | Brady Dale | Apr 11, 2018

The average crypto enthusiast isn't likely to get their hands on grams - Telegram's crypto token - anytime soon.

While half of the ambitious $1.2 billion the messaging giant hoped to raise was supposed to come from an ICO open to public investors, recent SEC filings confirm Telegram has already raised $1.7 billion from two private sales. Now, sources with knowledge of the deal believe the company is likely to scrap its public sale altogether.

The reason? Raising money from the public could be way more trouble than it's worth.

For one, Telegram's blockchain, called the Telegram Open Network (TON), hasn't been built yet. (To be clear, no one has received any grams.) As such, Telegram is selling what basically amounts to IOUs for future grams under the Simple Agreement for Future Tokens (SAFT) framework.

That means - as displayed by the company's SEC filings - the company is selling a security, which cannot be sold to non-accredited investors (except under some exemptions).

"The regulatory environment is in a weird place with most teams having more questions than answers," said Anthony Pompliano, a general partner at Morgan Creek Capital Blockchain. "If teams can raise their capital goals in private sales, they'll continue to do so until there is less ambiguity in regulations."

This appears to be what Telegram is doing, although it's been tough to tell exactly what the founders are thinking since they've said nothing about the ICO or TON, both of which the white paper details will help facilitate a network of faster payments, file-sharing, decentralized privacy, domain registration and more.

Telegram did not respond to a request for comment.

Pompliano told CoinDesk:

"The goal of fundraising is to gain access to capital to allow a team to build a product and company. It appears Telegram has already achieved their goal so there would be no reason to conduct a public sale."

Tech first

This is especially cogent as it relates to the amount of work a legal public sale would entail.

For one, Telegram would have to go through a know-your-customer and anti-money laundering verification process to be able to sell to everyday investors.

For private, known investors that have been identified plenty of times for investment purposes, the verification work is less cumbersome, but for a store cashier who is investing for the first time, it's more challenging to prove they are who they say they are. And it just has to do it so many more times. This would be no small lift and may not be attractive to a company that already has plenty of money.

Plus, there's already a secondary market for grams whereby small investors are buying the crypto tokens from whales that got into the private sales, according to Alexander Borodich, an alum of the Mail.ru Group, one of Russia's largest tech companies, and an angel investor passed on the opportunity to invest in Telegram's ICO.

As such, he said it's unclear whether a legit public sale will happen.

The TON technical white paper describes an ongoing token sale that will continue intermittently well into the future. That phase may be a sort of public sale, but one that won't begin until the protocol launches.

See:  George Soros Prepares to Trade Cryptocurrencies

And according to Sid Kalla of the Turing Advisory Group, building the product before selling to the public would be that smart thing for Telegram to do.

He told CoinDesk:

"The private sales were raised at around the top of the market euphoria. For a public valuation to reach back to those levels, the crypto community would need to see something concrete."

Public opinion

Which is another reason Telegram may discard it's public sale for some time - so it doesn't have to deal with thousands of people's unsolicited opinions.

When a company decides to do a public sale, it introduces complexity into its public relations.

That's why large, publicly traded companies devote whole departments to investor relations, said Stephen Palley of the law firm Anderson Kill. And that's something young startups may not have bandwidth to manage, he said.

"In this twilight world of ICO crowdfunding, you have a company that's brand new, it's a startup ... You suddenly have thousands -- tens of thousands -- of people who feel like they are stakeholders," Palley continued, adding:

"Do you really want to manage all those people?"

While Telegram is five years old, it's still a relatively small company that's so far bootstrapped development of its messaging platform from the founders' own pockets, which suggests it doesn't have experience in investor relations.

See:  Introducing the Convergence Ecosystem

Kalla agreed, telling CoinDesk, "Since Telegram is trying to solve several hard technological problems (like sharding, say) there may be inevitable delays and setbacks. The private investors are likely more used to such things than the public at large."

As much as possible

That said, not everyone agrees that Telegram will scrap its public sale so soon.

"I see no motivation for Telegram to call off their public sale," Joe DiPasquale, CEO of the crypto fund-of-funds BitBull Capital, wrote CoinDesk via a spokesperson.

"They seem dead set on raising as much capital as possible ... Considering they're targeting the mass adoption of their user base, I can't imagine them estranging the masses by canceling the public sale."

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The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry in Canada.  For more information, please visit:  www.ncfacanada.org

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Close to $4.9M raised for Humboldt Broncos after deadly bus crash

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CTV News | Staff | April 7, 2018

 

Support for the Humboldt Broncos and their families is pouring in after a bus carrying the junior hockey team collided with a transport truck on a Saskatchewan highway, leaving 15 people dead and injuring another 14.

The accident occurred about 200 kilometres northeast of Saskatoon, late Friday afternoon. The RCMP confirmed 29 people were on the bus at the time of the accident.

By Saturday afternoon, there was a three-hour wait at a Saskatoon blood clinic with many people eager to donate to the victims. Staff said many of the donors were first-timers eager to help those hurt in the crash.

A GoFundMe crowdfunding campaign, started by a resident of Humboldt, Sask. had raised close to $4.9 million by Monday morning to help players and their families cope with expenses, two days after coming online.

A photo tweeted early on Saturday showed three players holding hands while laying side-by-side in their hospital beds.

The mother of former NHL player Colby Armstrong, who is originally from Saskatchewan, offered a place to stay in Saskatoon to families impacted by the crash.The Canalta Hotels chain is also offering free rooms on Saturday in Melfort, Humboldt and Martensville, so family members can stay near the victims of the accident who are in hospital.

Jordan Gadsby of the Nipawin Apostolic Church said members of his community are coming together to support those in need.

“People just want to do something,” he told CTV News Channel. “We were getting phone calls from the local co-op and No Frills and daycares and our mayor, bringing food and bringing blankets for anybody that might need blankets.”

Gadsby said he has a spare room and guest house available for those impacted by the deadly crash.

On Saturday evening, Air Canada took to Twitter to offer help to those needing to travel to the province.

Continue to the full article --> here

 


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry in Canada.  For more information, please visit:  www.ncfacanada.org

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TokenFunder ITO Opportunity until April 30 and Interview with CEO Alan Wunsche – Getting Down to Brass Tacks

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NCFA Canada | April 5, 2017

With NCFA Blockchain Advisor and Founder/CEO of TokenFunder, Alan Wunsche, having an active Initial Token Offering (ITO) in the market until it closes April 30, 2018 (available to all types of investors including retail), we thought it would be a great opportunity to interview Alan to shed some light on the TokenFunder vision, ITO itself, and roadmap ahead.

What drives you forward personally with TokenFunder?

Alan:  What drives me forward are possibilities for economic innovation and a transformation of finance with new technologies. We’re seeing the decentralization and democratization of finance through open source monetary systems on blockchains.  This is real fintech innovation happening right now.  Programmable blockchains combining a smart contract (called a “token”) with multiple features such as the ability to easily send cryptocurrency – that is our future now.  With cryptocurrency, investors around the world can be direct investors in a startup. At TokenFunder, we want to make this funding option possible for all companies.

 

You’re a blockchain expert but also a CPA.  Can you provide a regulatory perspective on the innovation of digital coins and token offerings?

Alan:  As a CPA, I’m a professional who cares about investors and getting transparency and disclosure for investors. Permissionless and direct investing sounds incredible but most investors know that investing in general is a regulated space and investing in public companies differs from investing in private companies, especially with early stage projects.

In 2017, while TokenFunder was working with the Ontario Securities Commission LaunchPad, we experienced an explosion of Initial Coin Offerings (“ICOs”) around the world. Over $6B was raised by ICOs with blockchain tokens and these projects proved the power of the technology to enable permissionless investing.

Many of these ICOs became black holes that offloaded most of the risk onto their investors.  One big problem with many ICOs is that purchasers (contributors) received coins/tokens but no rights in the company. Many ICO projects encourage a pump and dump mentality full of speculation with large pre-ICO discounts and it’s difficult to know who’s involved and the real value of the project.  Ultimately a lot of hype…and in many cases investors aren’t getting a level playing field. You can imagine how that’s a big issue for regulators. We also think investors will demand more.

"TokenFunder foresaw these issues and so we chose to offer regulated security token offering from the start."

 

What is TokenFunder’s vision?

Alan: TokenFunder’s vision is to transform venture financing by empowering investors to invest directly in the most innovative startups through the power of a regulatory-compliant blockchain-powered funding and growth platform.  Thousands of startups are building large networks of financial and advisory supporters quickly, efficiently, and securely through blockchain technology.  Through cryptocurrencies, blockchain technology is unleashing a global and borderless capital network, and TokenFunder will empower businesses to directly leverage a global capital network that can accelerate success.

A core component of TokenFunder’s vision is being a regulatory-compliant leader in the sector. We’ve worked closely with securities regulators and will continue to seek regulatory approvals that supports a healthy innovation investing ecosystem in this new and exciting blockchain-power era of digital finance. Our roadmap, subject to regulatory approvals, includes liquidity on a trading platform of tokens we issue as well as other tokens.

 

What is TokenFunder building?

Alan:  TokenFunder is building a platform that will reinvent venture capital with a trusted, regulated end-to-end blockchain token launch and governance service to help innovators fund and grow their businesses. We call the core platform STAMP - a Smart Token Asset Management Platform.  We’re designing the platform with best practice governance features from traditional venture capital such as milestone-based tranche payments. We’ll also be encouraging advisors to engage with the companies through the platform in an advisory token economic model.

What is TokenFunder doing differently?

Alan:  At TokenFunder we came to the market with a new proposition -- to build a platform that would bring the global cryptocurrency pool to companies in a way that included governance features.

The first step was to have Know Your Customer (“KYC”) verification checks in our processes and also to check for investor suitability.  Think back to all the 2017 ICOs that took in funding anonymously, who didn’t know where the funds came from and whether their project was a suitable investment for the backer. Without this information, they literally can’t care about their investors even if they wanted to.  This is naturally a problem for securities and investment regulators whose mandate is investor protections.

Before you can invest in TokenFunder’s Initial Token Offering, we have KYC verification and suitability checks. We’re building KYC whitelisting into the FNDR token that we’re going to distribute to our token holders so you’re not going to be able to invest anonymously.

 

TokenFunder has an active ITO where any investor can participate in future revenue sharing from TokenFunder profits.  Can you tell us about the opportunity?

Alan:  Important to note that you can invest in TokenFunder’s ITO until the opportunity closes at the end of this month on April 30, 2018.  Our token holders will share in 80% of the future distributions based on the business profits.  Once the ITO closes, all investors that participated in the ITO will receive their FNDR tokens and we’ll be swiftly moving forward with the business roadmap to seek the required regulatory approvals to have the platform registered as a regulatory-compliant token issuance and trading platform.

 

What does it mean to be a token holder?  Do token holders get equity or special participation rights?

Alan:  Token holders are essentially a special class of share with rights to the future distributions made from platform profits. While token holders don’t vote on Board representation, we do in the future plan to give token holders a voting mechanism on the companies that are accepted to the platform.

FNDR token holders will receive a proportionate profit share based on the revenues generated from TokenFunder service fees paid by businesses who use the funding platform and network.  TokenFunder will also receive a portion of the tokens issued by business customers. As this is a security and this is a forward-looking statement, I need to add that the fee model may of course change for competitive and other reasons.

Finally, we expect FNDR tokens to be liquid -- with the appropriate regulatory approvals and restrictions -- and be tradeable on our own exchange or listed on third-party regulated exchanges.

How retail and accredited investors become FNDR token holders:

 

 

FFCON18:  Debate Panel - Is Traditional Venture Capital Dead?


The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry in Canada.  For more information, please visit:  www.ncfacanada.org

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Crowdfunding campaign to save Toys ‘R’ Us doesn’t include Canadian stores

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Financial Post | Tara Deschamps | March 22, 2018

TORONTO — Toy company executive Isaac Larian is hoping to keep Toys “R” Us’s Canadian operations from going out of business, but a $1 billion crowdfunding campaign he launched to rescue the company doesn’t include the country’s stores.

The executive behind California-based MGA Entertainment Inc., which makes Little Tikes, Bratz and L.O.L. Surprise! toys, announced on Thursday that he and some affiliated investors were seeking $800 million from toy lovers in hopes of acquiring “all or some” of Toy “R” Us’s assets, thus “saving the retail chain and preserving the Toys “R” Us experience for future generations.”

The efforts focus on Toys “R” Us’s U.S. stores and are separate from Larian’s attempts to buy the brand’s 82 Canadian stores, which 20 interested parties are vying for, said Toys “R” Us bankruptcy documents filed in the U.S.

“Toys “R” Us Canada is a good business,” Larian said in a statement previously. “They run it efficiently, and have good leadership. At the right price, it makes economical sense.”

Though the Canadian arm of the company filed for creditor protection in September, it said it has enough financing to stay afloat, even while the company shutters its business in the U.S. and U.K. and is reportedly likely to liquidate its ventures in Australia, France, Poland, Portugal and Spain.

Its Canadian operations are autonomous from its U.S. dealings, but Toys “R” Us CEO David Brandon has said the company will try to bundle its Canadian business with about 200 U.S. stores as it looks to find a buyer.

Larian hasn’t said how much of Toys “R” Us he is seeking.

On Thursday, Larian was drumming up attention for his crowdfunding campaign — which he admitted is for a “staggering” total — but explains that “it would take a very large sum to create a successful bid for the acquisition of such a large entity.”

By 3:30 p.m. ET on Thursday, the campaign had attracted just over $12,000, mostly in denominations of less than $100. Donors were being enticed with promises of #SaveToysRUs bumper stickers, special edition toys, invites to a reopening block party and opportunities to tour the oldest toy factory currently operating in the U.S. depending on the amount they give.

Larian and “various associates” chipped in $200 million for the campaign, leaving the other $800 million to customers. He also vowed to direct 10 per cent of proceeds from all Little Tikes purchases made between Thursday and the campaign’s May 28 end date to the campaign.

The fight to save Toys “R” Us stems in part from the role it played in Larian’s life.

“I sold my first toy to Toys “R” Us. Watching my kids walk through the aisles with smiles on their faces, it was a place for them to truly be free,” said Larian, in an email to the Canadian Press. “There’s a magic many of us experienced walking the aisles of a Toys “R” Us, a magic I want my grandchild to experience. It’s personal for me and I think it feels personal to millions of people across the U.S. and around the world.”

Toys “R” Us didn’t just offer the magic of wandering through aisles of toys. It also brought significant money to toymakers.

 

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The National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry in Canada.  For more information, please visit:  www.ncfacanada.org

 

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Redesign headaches and production delays: Toronto inventor pushes forward with foot-powered washing machine

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CBCnews | Makda Ghebreslassie | Jan 4, 2018

An award-winning idea to build a pedal-powered washing machine has hit some snags and its inventor is facing questions about what's taking so long. But one expert has told CBC Toronto stories like this are common and are even to be expected before a new product finally makes it to store shelves.

Yi Jiang, the creator of the Drumi — an electricity-free, foot-powered washing machine — has experienced many challenges taking his product from mock-up to market.

"It's just taking us so much time and energy to figure out how to make things work," he said.

The prototype won the national James Dyson Award in 2015.

See: Finalists Announced for the 2016 Canadian Crowdfunding Summit Live Pitch

It's a compact washing machine, operated by a pedal, that can hold about two kilograms of clothing. That's usually three to five items.

All that is required is water, detergent, sanitizer and a few minutes of your foot pushing the pedal to spin the drum that holds the clothes.

Jiang gained financial support for the concept with pre-orders on the crowdfunding site Indigogo and his company's website.

'Not chump change'

Walter Sanchez says he came across the Drumi while reading an article about inventions that could make a difference in your life.

"I was attracted to that concept of having an item that is easily accessible to me that would make an otherwise tedious task more appealing and more functional and efficient," he said.

In May of 2016, he went on the website for Jiang's company, Yirego, and pre-ordered it for $265 plus tax and shipping.

Sanchez says the website indicated pre-orders would be shipped out by the end of the year but that kept being pushed back.

He says he emailed Yirego last April and was told they did not know when the product would be shipped out and they would keep him informed.

But Sanchez says eventually all communication, including the company's monthly updates on its website came to a halt.

"The product doesn't get delivered and no one is returning your calls and there are no updates, so as a consumer it raises a lot of concern because three hundred and whatever dollars is not chump change for a lot of us," he said.

Jiang says the plan was to have the actual product shipped to customers by 2016 but that deadline has come and gone.

Yi Jiang says he was inspired to create the Drumi after having negative experiences with public laundromats. 'It's not just about the cost and the time consumption, it's also about the energy and the way that people are using it,' he says. (Makda Ghebreslassie/CBC News)

The delay, he says is partly due to redesigning the Drumi, adding new features and meeting manufacturing standards.

Jiang says because he was creating a whole new product with no electrical parts, off-the-shelf components were not an option.

He even had to design and produce basic parts like the springs the machine needs.

"It's like a concept car. You can't drive around a concept car," Jiang said.

But while his team works on improving the product, customers who pre-ordered are left waiting.

After sending several messages this past spring, Sanchez said the company finally contacted him and provided him with the refund he requested in October.

"The way the situation was handled, I think it was poor," said Sanchez.

Expect delays

Many of the challenges faced by the inventor of the DRUMI and its clients are very common, says Daryl Hatton, the CEO of  FundRazr and the director of the National Crowdfunding Association of Canada.

See: Crowdfunding raises a roof: Tips for newbie Crowdfunders

Hatton says people choosing to get behind products on crowdfunding sites need to fully understand what they are committing to.

"They will have to be patient because it frequently takes longer than they want. There's a chance that they might not ever get it. It's possible that the entrepreneur might fail and it won't work," he said.

"You're backing a venture and a concept and an idea more than just a purchase. There's risk involved," he said.

Hatton said there are things that entrepreneurs like Jiang can do to help ease the concerns of their clients.

"The number one advice is to over communicate and demonstrate the progress being made," he said.

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The National Crowdfunding Association of Canada (NCFA Canada) is a national non-profit actively engaged with social and investment crowdfunding, alternative finance, fintech, peer-to-peer (P2P), initial coin offerings (ICO), and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, networking opportunities and services to thousands of community members and works closely with industry, government, academia and eco-system partners and affiliates to create a vibrant and innovative fintech and online financing industry in Canada.  For more information, please visit:  www.ncfacanada.org

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RED Mountain Hurdles Historic $1.5 Million Mark; Keeps Going

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Nasdaq Newswire - Red Mountain | Dec 13, 2017

Scrappy Ski Mountain Reaches Major Milestone in Crowdfunding Campaign

ROSSLAND, British Columbia, Dec. 13, 2017 (GLOBE NEWSWIRE) -- Nearly sixteen months ago, RED Mountain launched an historic initiative for ski hills to raise capital through crowdfunding, offering ownership in the storied Canadian ski resort to investors for starting at $1000. Today, RED is proud to announce that it has hit— and exceeded — its minimum offering of $1.5 Million collectively raised on both StartEngine.com in the USA and FrontFundr.com in Canada and has accepted the first round of subscriptions under the crowdfunding offering. This means that the first funds can be accessed for use in “improving the adventure,” and investors can begin using some of the perks offered as early as this ski season.

See:  RED Mountain Goes LIVE With Crowdfunding in Canada; Urges Fans to “Fight The Man. Own The Mountain.”

“It’s hard for me to even put into words what this milestone means to our team,” says RED CEO Howard Katkov. “This campaign has been non-stop since we launched… It’s been intense in a way I’ve never experienced in any of my previous business endeavors, but most gratifying for me, my team, and our community. We planted this flag for independent skiing and touched a nerve with skiers and boarders around the world. It’s way bigger than RED Mountain now — and RED’s pretty big!”

Dubbed “Fight The Man. Own The Mountain,” the RED campaign has raised eyebrows as well as money, highlighting the importance of independent skiing.  RED Mountain has presented itself as one big, continually growing “family”, something very unique, juxtaposed to the rapid corporate consolidation of ski resorts in North America.

“After we tossed this notion out there 16 months ago, we received pledges of over $13 Million,” explains Katkov.

“We knew that not everyone would convert to their reservations to subscriptions for Class D Units— that not everyone is able to — but the traction we’ve seen on this issue is commendable on its own. More people are aware of the transformation of skiing due to corporate consolidation and we have created a touch point for those who care about independence, authenticity, affordability and access. We’ve received investments from numerous supporters who’ve never even been here! RED isn’t the only independent out there fighting the good fight, but we have become a high-profile underdog.”

“RED is defining a movement that is transforming what it means to be an Angel Investor,” explains Sean Burke, COO of FrontFundr. “You don’t need to be a high net worth individual to invest and own a piece of RED and this is what democratized investing in private enterprises is all about. RED has proven this and now holds the single largest closing for equity crowdfunding in Canada, with total subscriptions of over $1.5million.”

“Our passion hasn’t wavered,” adds Katkov. “We will continue to accept subscriptions for the Fight the Man / Own the Mountain crowdfunding offering over the winter and fully expect to raise additional equity after this great start. Just know there’s room at the table of this historic offering and truly unique opportunity to own a chunk of RED Mountain. We know that many more die-hards will be joining the family over the winter and we can’t wait to meet them!”

The US offering circular can be viewed here.

Source:  here

Press inquiries can start here:

Christine Andison – Planning & Development
RED Mountain Resort
250-362-5551
christine.andison@redmountainventures.com


 

The National Crowdfunding Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with both social and investment crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders across the country. NCFA Canada provides education, research, industry stewardship, and networking opportunities to over 1600+ members and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding industry in Canada.  For more information, please visit: www.ncfacanada.org

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