Starting today (Monday, August 14th), Canadians can make good on their pledges and walk away actually owning a piece of one of North America’s most storied ski resorts.
Canadians are able to commit to their equity purchase starting August 14th on FrontFundr.com. U.S. investors can purchase equity starting November 2nd on StartEngine.com, as the U.S. regulatory process takes approximately 90 days longer than in Canada.
“I want to make it very clear that the earlier Canadian opening date on subscriptions does NOT offer an undue advantage to RED’s Canadian fans,” explains Katkov. “Nor does it present a disadvantage to American investors. We will not run out of equity. We will not run out of perks or tiered rewards. People on both sides of the border will still have the same opportunities to invest and the same opportunity to reap the rewards. Nobody’s jumping the gun here… it’s a staggered start.”
Potential investors are urged to “do the math”—i.e. their homework, their “dude diligence”—before dropping in on this unique equity offering, and can begin here. Two unique aspects of the offering are worth noting up front:
The first is a clause informally dubbed, “Last In, First Out”. What this means is that investors in Phase II—whether they’re in for $1,000, $25K or more—would be among the first paid back for their Class D units in the eventuality of any possible future sale of the resort. They would receive their investment back before all previous equity investors.
The second is the “rewards” associated with each level of investment, from lift tickets, custom skis or snowboards, season and family passes and access to a purpose-built clubhouse and overnight cabins. These rewards are laid out in the FrontFundr and Start Engine platforms.
(RED Mountain Resort will continue to investigate the possibility of investors outside Canada and the US participating – international investors, stay tuned!)
For U.S. Investors
* No money or other consideration is being solicited at this time in connection with the US offering, and if sent in to Red Mountain Resort or StartEngine, will not be accepted. No offer to buy securities of Red Mountain Resort in the US offering can be accepted and no part of the purchase price can be received until Red Mountain Resort’s offering statement is qualified with the Securities & Exchange Commission. Any such offer to buy securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given after the qualification date. Any indications of interest in Red Mountain Resort’s US offering involves no obligation or commitment of any kind. *