ROSSLAND, BC--(Marketwired - September 13, 2016) - In only 20 days since going live, RED Mountain has raised 3.8 million dollars on StartEngine.com, a leading crowdfunding portal. This Test The Waters Phase has been incredibly successful by any standards -- including the fact that RED received 84-percent more investors in the first week of "Fight The Man. Own The Mountain." compared to the average platform launch on the crowdfunding site.
RED's reservation amount was also 50-percent larger than the platform average (which is extra impressive once you consider that the minimum reserve set by RED was only $1,000 with the hopes of appealing to everyday folks who might not invest regularly or have a high net worth).
"We saw startups for apps and video games, medical marijuana IPOs, a new vertical take-off executive plane… but we had no idea how a Canadian ski resort would fare with crowdfunding," says RED CEO Howard Katkov. "We really didn't. But the skiers and snowboarders have spoken. Independence matters to them. RED matters."
Fittingly, "Fight The Man. Own The Mountain." launched on the heels of several major, multi-billion dollar acquisitions in the larger ski world and clearly struck a chord with hardcore skiers and snowboarders, especially on social media. As of September 7th, there have been nearly 900 reservations in the Test The Waters phase with an average of $3,959 per investor. The Test The Waters Phase for Title IV investments on StartEngine carries no obligation to buy shares. When RED clears the test phase and moves on with full SEC vetting, they will be offering actual dollars, real equity and perks, a phase that would likely launch four months from now.
The video for the "Fight The Man. Own The Mountain." campaign has already been viewed nearly 200,000 times and the launch story has been covered by everyone from Yahoo Finance to the CBC to Outside, Powder, and Snowboarder magazines.
Click here to visit the campaign: https://www.startengine.com/startup/red-mountain-resort/
RED Mountain is Western Canada's oldest ski resort. It has long been a hotbed for developing Olympic and National Team ski racers and has long held status as an underrated gem compared to the MegaResorts. The town of Rossland and RED were recently deemed the "Number 8 Place to Visit in the World" by none other than the New York Times. And the resort recently opened nearly 1,000 acres of new terrain on Grey Mountain, a move that represented the largest expansion of its kind on North America in 40 years and that put RED in the same weight class as Steamboat, CO and Jackson Hole, WY.
"Fight The Man. Own The Mountain" is just the newest initiative by a resort that has never been content with business as usual. The resort is coming off a record winter in 2015-16 that saw deep snowfall, very strong sales, and great press. The crowdfunding campaign is simply a new way to keep things sane and sustainable moving forward on the finance front.
"Thus far, this crowdfunding campaign has really resonated, both with the RED faithful and beyond," adds Katkov. "People are now expressing interest in what we're up to, asking questions, clicking that button, throwing down, and sharing our story with their networks. It's very gratifying: We've offered folks a chance to bow out of the side of skiing that is quickly becoming a pursuit for 1-percenters and they are all over it. They know what we have is worth being a part of…"
RED Mountain Resort
RED 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 NY 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.