‘Fight the Man’ Ski Resort Leads Crowdfunding to Snub Vail
Red Mountain breaks record for single-day fundraising and takes on the current resort corporations waiving the flag of independence via internet crowdfunding.
RED Mountain Resort
Fight the Man. Own the Mountain.
Regulation A+
Rossland, BC
Travel/Tourism
Accepting International Investment
Our Campaign Has Officially CLOSED. Thank you everyone and welcome to the RED Family! Updates soon to come!
Fight The Man. Own The Mountain.
Become an Owner of RED.
RED Mountain is an Endangered Species within the ski resort world. We have the snowfall, vertical drop, world-class terrain and 4-season fun to go boot-to-boot with the Big Guys, but have consciously maintained our mom ’n’pop/weird uncle feel for over 100 years. We’re tired of seeing families priced out of a premier ski vacation by Mega Resorts. It’s time for a change...
RED Mountain’s preservation as a fiercely independent, non-corporate entity is beyond worthwhile and now you get to be apart of it: “Fight the Man. Own the Mountain.”
Through this campaign, we're giving you the chance to actually own a piece of this place. That’s right – OWN: The mountain, the chairlifts, the lodge, condos, snow making, you name it. Every asset we’ve got, man. (Think of it as “Shred Equity”…)
This is your chance to actually be an owner of an extraordinary mountain that many consider a true sanctuary in a complex world. This is a unique investment opportunity – and it's not just an opportunity for the 1-Percent.
We now live in the land of Mega Resort mergers and acquisitions, a world where the independent spirit of skiing is being peeled away, piece by piece, and traded for Starbucks outlets at the base and covered escalators to the lift line.
Did you know that about 50 ski resorts are owned by just 4 corporations? And 60% of those acquisitions happened in the last 10 years. Two of the most recent acquisitions in skiing – Vail Resorts acquired Whistler Blackcomb August, 2016 for over $1 billion and Aspen SkiCo/KSL is acquiring a whopping 10 resorts in 2017 (Mammoth Resorts and Intrawest). It continues to happen. We’re aiming to buck this trend, and for good reason.
If you live for skiing and snowboarding, you should know that every waterpark and golf course that gets built will be reflected in the price of your lift ticket – whether you’re “fore” it or not.
At RED we like to do things differently. Always have. Always will. We’re like the Green Bay Packers of the resort world – the NFL team owned by its community since 1923. And, just like The Pack, you could own a piece of us. When we say "us" we're talking about a resort that's Top 20, size-wise, in North America; a resort coming off back to back best fiscal years on record; a resort that was listed by The New York Times as a "#8 Place to Go in the World". Not bad for independent, eh?
But it’s not just about “stickin’ it” to the man. (That's just the fun part...) It’s about acknowledging the importance of this lifestyle and culture that we all have grown to know and love from a young age and doing our part to keep it thriving. Times like these don’t come around too often… We're making history here, folks!
As CEO Howard Katkov puts it, “Why not join us on this big mountain, big community, love-driven adventure... We’ll keep investing in this community and these fantastic people with or without your help, but dropping in on this could change your life—just like it changed mine.”
RED, Western Canada’s oldest ski resort, began its life as a community-owned entity when many of the skiers were crusty Scandinavian miners who whittled their 300cm skis out of lightning-struck trees. Now, through the power of the internet and the magic of equity crowdfunding, RED Mountain would like to reboot the community-owned SkiClub model – before it’s too late.
We know that you could invest your money in that biotech company trying to engineer sweeter children. Or that new app that puts your face on your favorite breed of dog. But by owning a piece of this mountain, what we’re offering is of an entirely different order. This is as analog as it gets:
Face shots. Crisp mountain air. Four generations of skiers and snowboarders racing down our storied slopes together and then fighting over a mountain of nachos at Rafters. Rosy cheeks. Full body smiles. Cold beer. Simple pleasures. And in a hectic world where everything moves too fast and all at once, you are acknowledging that this "back to the basics" simplicity is back to what really matters. A community of like-minded individuals and adventurists can be one of the most powerful forces ever. This is why we’re offering you the opportunity to join us. And own us.
See, RED Mountain is a Keystone Species in the larger ski resort world:
A species on which other species in an ecosystem largely depend,
such that if it were removed the ecosystem would change drastically.
We've always chosen to do things differently—for over a century. While “they” focus on more “shopping opportunities,” we focus on the adventure and revel in the fact that we have Rossland, a real, historic, Gold Rush-era town at the bottom of the hill. They sell you a side of fries for $10 and we offer $10/run cat-skiing. It’s like this at every turn on RED. Surprise & Delight, yo.
This is serious. That’s why we claim Keystone Species. We believe that keeping a place like RED thriving betters the sport for everyone in a time where families that love this mountain lifestyle are getting priced out left and right. Skiing and snowboarding should never become elite sports like polo or Formula 1.
Watch the Video About Ownership Perks Below:
So What's In It For Me?
What we are offering here in this campaign is truly a unique opportunity. We sincerely hope you’ll join us to “Fight the Man. Own the Mountain.” We’ve been at this for 12 years and could use your help at this juncture to stay fierce, independent, proud, and a little bit odd.
This campaign to raise money is to keep us stable moving forward, supported by those who love this sport and this way of life the most. It’s about building and growing this community and this passionate lifestyle. Think about it. Whether you’re in for “dimes or dollars” we’ll make it worth your while. By buying into this campaign, you'll actually own real equity in this enterprise. We're not talking a "Thank You" certificate, we're talking legitimately owning an actual piece of this place.
But that’s not all. In addition to the equity you purchase, based on your investment level you’ll also be given additional rewards sure to appeal to ski and snowboard enthusiasts (take a look at the list breakdown) from custom, limited edition Blizzard skis and Lib Tech snowboards; to lift tickets, season passes; and even overnight stays on new mountaintop cabins.
*Snowboard and ski options may be dependent on minimum quantities based on total number of investors.
Artist Spotlight Series 1 of 2: Ryan Schmies
Artist Spotlight Series 2 of 2: Gina Kiel
Where’s your money going, you ask? The money raised in this campaign will go toward improving the adventure here at RED. Think of this as investing in your own happiness, like a cold craft beer or getting your car detailed at the end of a long winter. Plans include:
- Remodeling and expansion of the Paradise lodge including a new kitchen, 40% more seating, and new washrooms.
- Additional run development for expanded cat skiing on Mount Kirkup
- Building a new clubhouse and overnight on-mountain cabins on either Grey or Granite Mountain.
- A brand new high performance centre, which will double our fleet of skis and boards.
- Expanding our Piste Off Retail store and expanding our parking lot by roughly 200 spaces to accommodate the growth of our visitation.
- For spring and summer activities, we’ll be building a multi-use trail for hiking and mountain biking from the base area to the top of Grey Mountain, connecting to the Seven Summits trail system.
- Supporting the creation of an annual local academic Scholarship fund for higher education.
- After all of the improvements above have been completed, remaining funds from the offering may be used to make additional on-mountain improvements and/or to reduce institutional debt, ahead of schedule, as set forth in the offering memorandum.
You can be a part of all of this - and more importantly, an owner of all of this.
“We’re gonna be the Green Bay Packers of the ski world!” jokes Katkov. “And, just like The Pack or whichever underdog inspires you, we’re really looking to our hardcore fans to throw down here – we’re talking ownership after all.
We’ll happily take the big bucks–bring it!–but we have intentionally set our minimum at a very low $1,000 to entice hardcore skiers and snowboarders who might not have a High Net Worth–even if some of them have the ‘high’ part on lockdown...”
What we’re asking of the larger snow-sliding community is as straight-forward as pointing those planks downhill: Buy in now. And bow out of the side of skiing that is quickly becoming a pursuit for 1-percenters. Oh yeah, and more importantly - become an owner of a ski mountain!
General FAQ
We've consolidated A LOT of questions since Day 1 of our launch that you can check out right here.
The Last Great, Unspoiled Resort
Located in Rossland, BC—the first stop along the famous “Powder Highway”—RED delivers 2,877 lift-serviced acres (4,200 total!) of pristine skiing unfettered by overdevelopment. With epic vertical (2,919 ft/890m!), in-bounds cat-skiing, wide-open groomers, 360-degree descents, a rich tradition, and—phew!—the BEST gladed tree runs in North America, this best-kept secret has been let out of the bag.
Once you're here, it's hard to imagine ever wanting to go anywhere else. Just ask some of the locals - they used to be visitors themselves!
Get Lost Adventure Centre opens
to expand 4-season activity options and provide effortless access to incredible Kootenay community resources such as river guides, fishing outfitters, and fat bike rentals.
Legacy Training Centre opens
to preserve RED’s reputation as a breeding ground for kick-ass ski racers including Olympians and National Team members.
Expansion to adjacent Grey Mountain. Terrain increased by ~1,000 acres.
RED joins Top 20 resorts, size-wise, in N. America, comparable to Breckenridge or Jackson Hole.
Mixed-skill groups rejoice. Americans insist “Grey” misspelled.
Revitalization of historic downtown Rossland,
a Gold Rush town with stately stone buildings and a lively main street.
Big bronze statue of Olaus Jeldness,
the godfather of skiing in Rossland, installed, promptly pooped on by pigeons.
Renovated 1948 base lodge with a sustainable approach
that maintained original beams from the 1860s and iconic red lockers that the community had come to love.
Changed out urinal pucks.
Howard Katkov and partners form RED Mountain Ventures and purchase the resort from the first owners outside the original community Ski Club.
Between 2004 and 2016, RMV has put their focus toward sustainability and preservation by enhancing the experience and the adventure and investing in modernized infrastructure, renovated lodging, new housing, installing new lifts, expanding terrain, adding snowmaking, and more.
RED Mountain Resort Manifesto
- We believe that a day on the mountain is always better than a day on your phone.
- We believe that kids who grow up shredding naturally become free thinkers, risk takers, lifelong outdoor enthusiasts, and perhaps the kind of smack-talking bon vivants the world needs more of.
- We believe that skiing and snowboarding are “lifestyles” rather than “sports” because they change lives. RED Mountain owes its very existence to this passion and has run on it for over a century.
- We believe, as entrepreneurs, that skiing has taught us how to make the most of what the day gives you, how to trust our instincts, and how to value what we have instead of constantly lusting after more.
- We want families priced out by corporate resorts to rediscover the simple joys of snow, gravity, and fresh air without having to sell a kidney in the process.
- And, yeah, we kind of want to stick it to the corporate ski resorts.
They don’t own skiing and snowboarding. YOU do.
The Vision of RED
Passion: The desire to have or be part of a mountain lifestyle.
Community: Strong integrated community of diverse yet like-minded people.
Adventure: Exciting, extraordinary, challenging experiences.
Youthful & Fun: An ageless desire to embrace and enjoy life in a lighthearted way.
Simplicity: A relaxed lifestyle; freedom from complexity.
Quality: Meet or exceed expectations on all levels.
AN 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.
Investors should review the Canadian Offering Memorandum here dated Aug 12, 2017 as updated October 26, 2017, and further updated December 15, 2017, which can be found here.
In the Press
Updates
Done Like Dinner: Fight The Man/Own The Mountain. (Unbelievable Results Inside.)
about 4 years agoOn April 2nd, 2018, we put a fork in our 17-18 ski season and in our historic "Fight The Man. Own The Mountain" campaign. It was one heck of a fork:
Over 700 of you invested your hard-earned money in this campaign for financial sustainability at RED Mountain and together we raised $2,556,250 to let the world know that independence matters.
“It’s hard to believe it’s really over,” says RED CEO and campaign face Howard Katkov. “It basically consumed me and a lot of our team at RED for about for two years”.
“Turns out that spreading the gospel of RED came pretty naturally to him.” jokes Erik Kerr, RED’s Marketing Director. “The campaign over the last two years generated over 1.1 million views from our videos alone.”
On the coat-tails of this campaign that shook up the entire ski industry by being the first crowd-funding of a for-profit resort ever, we did more than “fight the man” with your help. We galvanized people who love quirky and wonderful ski resorts the world over. We helped people appreciate the unique treasures they have in their own backyards. We also won over a LOT of new fans from as far away as the Scottish Highlands and South Africa.
“We all howled when Ski Area Magazine gave us an award for ‘Best Marketing Campaign Masquerading as A Funding Pitch’,” says Katkov. “But it was no masquerade. There are now 743 new owners, and as a result of the Fight The Man campaign that reached so many eyes and ears, we had our best year ever for skier visits, too.”
Aside from lighting up our own social media channels, the feisty campaign was featured in Powder, The Globe & Mail, Yahoo Finance, Bloomberg.com, Outside Magazine, and countless others.
Some people invested in RED for the incredible perks, like family passes and custom skis and boards from Blizzard and Lib Tech. Some people invested because they’ve secretly always wanted to own a ski resort—and where else would you get an actual stake in a Top 20-sized resort for a thousand bucks? A few people invested purely out of spite because they hate what the Mega Corps are doing to skiing through consolidation and acquisition. We took on all comers.
“Whatever your reason for investing in RED, we are proud and thankful for your belief in our product and our community,” says Don Thompson, President and GM. “It was great to see the community rally behind RED from the start and we’re already well under way with our promised improvements. Thank you!”
The $2.5 Million raised was earmarked for on-hill upgrades that would “improve the adventure” for skiers and snowboarders. So far, local-fave Paradise Lodge got a serious facelift—with flush toilets! Next up, we have a number of exciting improvements in the works but you’re going to have to stay tuned for the details. (Rest assured: your money will be used to make your ski day better!)
__________________________________________
Here’s how it all went down:
Total Investors Who Are Now OWNERS: 743
$2,560,250.00 CAD raised — 171% of 1.5 Million Goal!
Platforms: StartEngine.com (USA) & FrontFundr.com (CAN)
Smallest single investment: $1,000.00
Average investment across all platforms: $3,400.00
Largest single investment: $25,000.00
__________________________________________
“RED Mountain has always been this family affair,” says Katkov. “We started as a community-owned ski hill back in the gold-mining days and we’ve always retained that scrappy independent spirit in the face of corporate homogenizers. That’s just in our DNA. Well, the family got a lot bigger with these 743 new owners, but I know the spirit will stay the same here. For regular skiers and snowboarders to throw down like this means the world to me and to all of us, from lifties to ski instructors. I’m going to miss this campaign but I know that many of you won’t miss our incessant emails [laughs]. Thanks for not hitting Unsubscribe… Over and out!”
The 10 Day Countdown is ON to OWN.
about 4 years agoIt's Your Last Chance To Become an Owner of RED with "Fight the Man. Own the Mountain."
This is it, everyone. April 2nd officially marks the end of our “Fight the Man. Own the Mountain.” campaign. We want to make sure you have one last chance to become a part of our family if you so choose, and join nearly 700 investors that have stood up and said yes to independence and supporting this culture and lifestyle we all know and love. Hearing your passionate stories over these last 2 years have been nothing short of incredible. We can't thank you enough.
This campaign to raise money is to keep us stable moving forward, supported by those who love this sport and this way of life the most. It’s about building and growing this community and this passionate lifestyle. Think about it. By buying into this campaign, you'll actually own real equity in this enterprise. We're not talking a "Thank You" certificate, we're talking legitimately owning an actual piece of this place.
Don’t forget that each investor also receives perks included with their equity purchase. Curious where other people come in on the tiered structure? Currently, the most common tiered buy-in levels have been:
5 lift tickets (valid for up to 5 years)
Access to the new Owner On-mountain Clubhouse (plus friends!)
Support for a new local academic scholarship fund for higher education
All of the above perks, plus:
An additional 5 lift tickets (10 total)
Custom-designed Owner-only Blizzard Skis or Lib Tech Snowboard 
All of the above perks, plus:
One additional Owner-only Lib Tech Snowboard or Blizzard Skis (2 total)
Access to New Overnight On-mountain Ski-in Ski-out Cabins
Click Here To View All of the Tiered Perks »
The 10 day countdown has officially begun. It really is your last chance to make history and become part of our RED Mountain Family in this crowdfunding campaign.
If you have any questions about this campaign, please feel free to reach out to us directly on our contact form right here and we'll get back to you as quickly as possible.
Canadians: You can click here to invest on FrontFundr >
Americans/Australians: You can click here to invest on StartEngine >
AN 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.
Investors should review the Canadian Offering Memorandum here dated Aug 12, 2017 as updated October 26, 2017, and further updated December 15, 2017, which can be found here.
Hello fans of Independence!
about 4 years agoIt’s hard to believe, but "Fight The Man. Own The Mountain.” is nearing its final stop.
That’s right: April 2nd marks the end of the ski season here at RED and represents your absolute last chance to own a piece of paradise for as little as $1,000 through our crowdfunding offering. If you’ve already invested, we can’t thank you enough for your faith and confidence in RED and its team of amazing employees. We’re welcoming you into the family with open arms. If you’re still kicking tires on this opportunity, well, there isn’t much time left.
Now, we’re pretty sure just about all of you know by now why we started this whole “thing”. We knew the importance of a rich tradition of independent skiing and knew there had to be a better way to grow sustainably than what we’ve seen in the industry these past years – and that it had to be done with its heart on its sleeve, just like us. Honestly, we didn’t even know if offering actual ownership to the public as a way to raise funds would even work. But your voices were loud and clear from all over the world – it’s been amazing hearing so many of your stories. Just the other day I received an email that perfectly captures the excitement of some of those coming to RED for the first time that invested in the campaign.
“My wife and I just got back from two incredible days skiing at RED Resort. It was our first time there and It wasn’t quite what we expected. It is now our favorite ski resort to date. We couldn’t believe the terrain and the vertical and size of the place. We also were impressed with the lodge, dining and employees who work there. So laid back and friendly. I’m glad we chose to give a $1,000 because we believe in the vision and goals you have set forth in the “Fight the Man” campaign. We have been to Utah and Jackson hole this season, while they are nice big popular ski resorts, we would rather go to Red now. I just wanted to let you know of our experience there and to say we will be back more than once next season for sure. Thanks”
Investing in RED means investing in history, independence, and in this growing family that shares the same importance on lifestyle and culture. RED is the oldest ski resort in Western Canada and it has always been fiercely independent. There are not many, if any ski resorts left in North America like RED and the success of our campaign demonstrates a desire by so many of you to, help, in a small way, to protect the lifestyle, soul and ski culture that emanates from RED.
RED is a place I’ve been beyond proud to co-own and captain since 2004 and the door is still open to share that feeling and be a part of our family. But please note that despite the friendly atmosphere, this is one of the Top 20 resorts in North America in terms of terrain. The snow’s unreal and the people around here are some of the coolest, most down-to-earth folks you’re ever likely to meet. (Trying to keep up with them on the hill is another thing entirely…)
BY THE NUMBERS
- Over 650 individual investors so far.
- Average investment: Approximately $3,000
- Campaign featured in Powder, Bloomberg, Pique, TransWorld, The Globe & Mail, Seattle Times, USA Today, Vancouver Sun, and more.
- Investors from 42 out of 50 states—for a resort located in Canada!
- We estimate about 25-35 percent of investors have never even visited RED!
- As of March 1st, 2018 completed and pending investments have totaled $2 million.
With $2 million so far already committed and invested, we wasted no time acting on promised improvements. These upgrades included a full remodel of fan favorite Paradise Lodge (incl. flush toilets!) as well as the expansion of RED’s retail and High Performance centres. This summer we’ll see the construction of overnight on-mountain cabins and the investor clubhouse (friends welcome!) as well as continued parking expansion. We’ve heard from a number of early investors that they were beyond stoked to enjoy the new Paradise Lodge so soon after clicking the BUY button. Hey, ownership has its privileges…
We really hope you’ll take a seat at the table with us and become an owner of this incredible place – it’s really your last chance. RED and Rossland changed my life on my very first trip here. I want to share that feeling with as many people as possible.
Thanks, and I hope to have you as part of our RED family soon.
Howard Katkov, CEO
Americans: You can invest here on StartEngine @ http://bit.ly/ownthemountain
Canadians & Australians: You can invest on FrontFundr @ http://bit.ly/iownred
AN 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.
Investors should review the Canadian Offering Memorandum here dated Aug 12, 2017 as updated October 26, 2017, and further updated December 15, 2017, which can be found here.
A New Year With New Owners of RED!
over 4 years agoHello Everybody and Happy New Year,
It is with great pleasure and a certain sense of relief that we can now talk about our successful Fight the Man, Own the Mountain equity crowdfunding campaign in the United States and Canada. Our success is a direct result of your faith, confidence, support and belief in our mission of supporting ski resorts like RED Mountain. We have completed two closings with StartEngine in the United States and FrontFundr in Canada, with a total investment of approximately $1,750,000 received so far. Our next rolling close for the next round of investors will be on or about February 1st.
This campaign through the StartEngine and FrontFundr portals will remain active until April 2, 2018 – available to any of you that may not have committed yet from your previous year’s pledge. April will mark the end to our historic campaign with over 600 new investors owning a little piece of what we call paradise - RED Mountain.
We started this endeavor a little over 18 months ago and looking back, I could not have imagined how our campaign would catch the attention of people around the world. Our success cannot only be described in terms of dollars raised, but more importantly, by giving like-minded individuals an opportunity to join our community of people with no pretense, and a simple love of the mountains that the soul of RED Mountain represents. I have personally written Christmas notes to individuals who were gifting their units to their children. I have not only met or talked to nearly a hundred potential investors but have developed new friendships with people, that if not for this campaign, would never have crossed my path. I know that some of these people will become lifetime friends to me and many of us at RED.
Our team is now preparing for the next phase of this campaign by welcoming our new investors to the resort this winter, getting the logistics of our future rewards in place, and starting our design development for the clubhouse and cabins.
We are gratified and humbled by the support that all of you have given us to this point and whether you decide to invest or not, we welcome all of you to RED Mountain.
If you haven’t yet invested and would like to,
Americans can do so here: http://bit.ly/ownthemountain
And Canadians can do so here: http://bit.ly/iownred
As always, if you have any questions – you can reach out via our contact form here (and yes, I’ll actually personally be seeing those!): http://www.redresort.com/ownthemountain/contact
Cheers,
Howard Katkov, CEO
RED Mountain Resort
$1.5 Million Subscription Milestone Surpassed! A Note From Howard Katkov, RED CEO
over 4 years agoI always had faith it would happen—at least deep down.
Sure, there have been some 2am night sweats, some head-down Sunday mornings in the office… But you’ve supported this campaign since it launched in August 2016 and your support has kept it a living, breathing thing.
The good news is that we’ve hit our first, big, make-or-break milestone on this campaign— As of this writing Friday afternoon, we are at a combined US and Canadian subscriptions of approximately CDN $1,720,258, well over our first stated minimum offering of $1,500,000 CDN—and that’s a win worth celebrating! (With an email!).
Some of you supported this venture by subscribing on FrontFundr or StartEngine as soon as we opened the gates and we can’t thank you enough for throwing down like that. Some of you argued with us and amongst yourselves on Facebook, trying to puzzle out whether independent skiing and snowboarding were really best supported by this historic crowdfunding. Many of you watched the videos and national press coverage and shared these tidbits with your social networks, helping spread the word to far-flung locales like New Zealand and Scotland and Shutty Bench.
Some of the subscriptions came in big $10K and $25K digital dumps—like waking up to find out that two feet of fresh just blanketed every surface, changing everything. Most of the subscriptions piled up $1K and $3.5K at a time, though, as regular skiers and snowboarders who maybe don’t normally invest in companies, directly took our message to heart and threw down for a cause they truly believe in. Some tried to talk us out of setting such a low $1,000 minimum buy-in, but we knew that many of our most passionate fans could be comfortable investing at this level and we’re incredibly grateful that they have. Every investment, large or small, in this historic campaign is a big one. Believe that.
Skiers and snowboarders are accustomed to pulling the trigger at the eleventh hour, packing up the truck for a powder mission on a moment’s notice… I think that’s what we saw here as dozens of investors came in during the final 24 hours to help us hit our subscription goal – it’s been fun to watch that needle move.
With this massive flurry of subscriptions this last week, we’ve now started the process of closing. But due to the processing times for both StartEngine and FrontFundr along with the final rush of subscriptions we had, we expect it will take approximately another 7-10 days to complete the processing and close the current subscriptions. And since we have hit the minimum subscription goal, we are excited to announce that this campaign will continue on both sides of the border throughout the winter until April 2nd, 2018, thanks to your overwhelming support. We will have rolling closes approximately every month following this first close – so for those of you that may still be on the fence, it’s still not too late to join our family! The additional proceeds will still be used to support our capital projects as set forth in the Use of Proceeds section of the Offering Circular (US) and Offering Memorandum (CDN). More importantly, it means that all this work and the work moving forward has not been in vain. We took a real risk sticking our neck out on behalf of independent skiing and snowboarding, knowing there was no shortage of corporate axes, happy to try and chop it off. You stuck your neck out with us.
For All Investors that Made the Minimum Subscription Goal Deadline:
We expect that some of you might wish to use your tickets and/or season pass on our Opening Day, or later in December before your welcome packets arrive at your address. In the event we do not withdraw funds before Opening Day, all investors who have submitted an investment with and committed funds will be eligible for the perks—RED will issue your ticket or pass at our Guest Services Department. Please reach out to Matt Henry, our Director of Investor Relations, at investor@redresort.com and he will arrange to have your tickets and or season pass available.
So, for those of you who made it into the first closing, welcome to our family of new investors and more importantly, welcome to our community. Your actions are historic in the universe of ski ownership and without you, we would not have succeeded. Your belief in RED Mountain Resort—and what we represent in this age of consolidation—is why we took this risk. We believed that you’d come through for us, and you did. The family’s certainly gotten bigger with this Fight the Man, Own the Mountain campaign, but I know we’ll always have room at the table for a few more rogues who love skiing and snowboarding more than anything else. I hope and trust over time, that all of us can meet, share stories, ski or snowboard together and of course share a glass of wine or beer.
Sincerely,
Howard Katkov,
Lifelong Skier, CEO, and Fly in “The Man’s” Soup
Final Week! Rolling Close Deadline is Dec 1st! Are you in?
over 4 years agoIt's The Final Stretch!
We're officially on the countdown to our final week for our first closing deadline on December 1st. Yeah, that's THIS FRIDAY.
If you haven't yet pulled the trigger, time is almost up to do so for the Minimum Close and to get your lift tickets to kick off the 17/18 season! If you've already thrown down for independent skiing and riding, we can't thank you enough - welcome to our family! Opening Day is right around the corner on December 9th and we want more than anything to be able to celebrate it with you - whether it's near or far - as a part-owner of RED. Not to mention that doesn't sound like a bad way to wrap up 2017, does it?
Current Numbers:
In case you've missed the last couple of weeks, we've totaled just over $1.3 million of investments right now waiting to close - we're SO close to the $1.5 million mark. Can you help get us there?
Canadians can invest at http://bit.ly/iownred
Americans can invest at http://bit.ly/ownthemountain
Did You See the Artwork?
Don't forget! Anyone hitting the Tier 2 Level of ownership or above ($3,500+) gets access to their very own custom-design owner-only Lib Tech Attack Banana Snowboard or Blizzard Rustler 10 skis. Have you seen the artwork for these yet? We couldn't be more stoked!
As always, if you have any questions - please don't hesitate to reach out. We're almost there - let's make history.
Sincerely,
- RED
AN 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.
Investors should review the Canadian Offering Memorandum here dated Aug 12, 2017 as updated October 26, 2017, which can be found here.
RED makes it big: This might be the best weekend reading ever.
over 4 years agoGlobal News and Pique Magazine show us "Fighting the MAN" in this week's coverage!
Earlier this week, Global TV News did a story on RED about how we're showing the rest of the ski world there really IS another way to the typical resort mergers that have been continuing nonstop. Since we launched this campaign with your support over a year ago, these acquisitions have continued to happen. It's time to REALLY take a stand and let your voice be heard. We'd love more than ever for you to join our family. Check out the great coverage below!
Yesterday morning, RED also made the homepage of Pique Magazine, shining a light on this campaign as the alternative to the ski world's mass wave of consolidation.
"Is RED Mountain an alternative to the ski industry's growing corporatization?"
Read the Pique Magazine article »
We know none of this would have been possible without YOUR support since day 1. It means the world that so many of you have believed in us every step of the way so far. With less than 2 weeks left, we're leading the charge to try to hit our $1.5 million minimum close by December 1st! Will you help us?
Canadians:
Now is the time. Invest right now here on FrontFundr »
Americans, Australians, and other potential international investors:
Join our Canadian Family. You can invest here on StartEngine »
AN 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.
Investors should review the Canadian Offering Memorandum here dated Aug 12, 2017 as updated October 26, 2017, which can be found here.
A New Milestone! But are we there?
over 4 years agoWe've Passed $1 Million to FIGHT THE MAN!
BUT - We Need to Hit $500k More By December 1st!
Thank You to nearly 500 of you (wow!) who have so far stood up to "Fight the Man" and "Own the Mountain" with a desire to show your commitment to our cause and to our family of owners. As of yesterday, we hit $1,000,000 of invested dollars that are in the escrow accounts of StartEngine and FrontFundr - which is an incredible milestone! But in order to hit our $1,500,000 December 1st goal, we have a ways to go. It is in your hands. The $1,500,000 is not a magic number, but a minimum number for us to deliver all of the rewards as delineated in the offering, including tickets, passes, skis or snowboards, clubhouse and cabins.
Let's show the world that the preservation of a fiercely independent, non-corporate entity in the face of corporate takeovers and a continually growing cookie-cutter outlook on the industry really DOES matter.
We are your biggest fans and are available 24/7 to help you understand the potential of this investment if you are still on the fence and considering this offering. We hope you do join our family. If you have any questions you can simply reply to this email and we'll help out as best we can.
Canadians:
Now is the time. Invest right now here on FrontFundr »
Americans, Australians, and other potential international investors:
Join our Canadian Family. You can invest here on StartEngine »
If you didn't see - we released our second Artist Spotlight Series graphic yesterday and we couldn't be more excited about it. If you missed it, take a look at the artist video and final design for our snowboard and skis.
Thank you again for all of your support (and for putting up with seeing my face for the last 2 years!). Winter is right around the corner. Hope to see you there.
Sincerely,
Howard Katkov, CEO
RED Mountain Resort
AN 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.
Investors should review the Canadian Offering Memorandum here dated Aug 12, 2017 as updated October 26, 2017, which can be found here.
We just released the new investor ski and board artwork! Wow.
over 4 years agoCheck out our second Artist Spotlight Series with Wellington, NZ artist Gina Kiel!
Don't forget that anyone investing in Tier 2 ($3,500) and up will get access to choose an investor-only custom-design pair of Blizzard skis or Lib Tech Snowboard! If you're in Tier 5 ($10k) or up, you get an additional pair, 2 Adult Season Passes, and investor-access to brand new on-mountain cabins for overnight stay!
Gina Kiel, currently living in Wellington, New Zealand, has been creating beautiful works of art for years. From massive wall murals to painting entire cars, her abstract, bright, and bold approach to her art makes her creations stand out anywhere you look. Gina's passion for art and love of snowboarding carried over to this project, feeling connected through the community approach this campaign champions, pushing for sustainability to preserve a unique and beautiful place in a landscape of changing times. We couldn't be more proud of her final piece - representing strength of the Rossland community and RED.
Click The Video Below To Watch Her Story and See the New Design!
Don't forget our Minimum Close Deadline is December 1st - almost 2 weeks away!
If you haven't yet invested: Americans, Australians and other potential international investors can do so right here on StartEngine.
And if you're Canadian, you can invest now on our FrontFundr portal right here.
PS. The snow has been falling nonstop - winter is just around the corner and we couldn't be more excited for Opening Day on December 9th! Check out our recent video on Facebook of it absolutely dumping!
AN 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.
Investors should review the Canadian Offering Memorandum here dated Aug 12, 2017 as updated October 26, 2017, which can be found here.
"Snubbing Vail" one owner at a time!
over 4 years agoOver $200,000 Strong!
It's been officially one week since we've gone live in the U.S. and we couldn't be more thankful for this extra wave of support from our friends south of the border. Within just a week, over $210k from people like you, have already come rolling in to support our community-focused stand for independent skiing and boarding.
December 1st Deadline!
While we came out of the gates strong, charging for independence, we still have a long ways to go as our December 1st deadline is right around the corner to hit our minimum amount! If you're still on the fence thinking about whether you want to join this historic movement, know that we're just a few weeks away until our potential deadline for this campaign! Now is the time!
Who's Snubbing Vail?
If you hadn't yet seen, Bloomberg News looks like they're joining the charge to "Fight the Man" with us! They recently covered RED and this crowdfunding campaign, which we were told was their 6th most read story in the world the day that it was posted on their website.
Check out the article here! https://www.bloomberg.com/news/articles/2017-11-01/-fight-the-man-ski-resort-leads-crowdfunding-to-snub-vail
Don't forget - Americans/Australians and other qualified international investors can complete your investment now on our StartEngine page right here.
Canadians you can complete yours on Frontfundr right here.
Snow is Here!
On top of everything happening right now - the snow fell, and it fell hard last night! We think it's safe to say winter is officially here and we hope more than ever to be able to share it with you this year.
Now that Mother Nature finally stopped turning every work day into a powder day, we’re tackling some of our biggest upgrades full-force to get ready for winter of 2017 - and we're pretty excited about it:
