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If you currently know about our equity crowdfunding campaign that launched August 23rd, this is the best place to go to find individual FAQ, press coverage, assets and the like. If you’re new around these parts and are scratching your head a bit – check out our campaign and watch the video at the top here to learn all about our new initiative!

If you’re looking for questions, we’ve categorized a large list that we’ve answered so far since day 1 of the launch. If you don’t see an answer to your question, just fill out the contact form at the bottom of this page and we’ll have someone get back to you as soon as possible as well as add your question to the list if it fits! This will be the quickest way for us to assist in answering any questions. Thank you!

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Questions

We’ve collected questions since the launch of this campaign and have categorized them below to share with you.

Test The Waters

This is just an expression of interest. You are not obligated to invest.
If it is determined that there is enough interest, Weanticipate an offering will be made approximately 4 months after the “Test the Waters” phase has closed.
You will get updates from RED via StartEngine after you “reserve” your investment in the Test the Waters Phase. No information will be shared publicly when you “reserve” your investment.
The Test the Waters round 1 is used to gauge interest in what we are offering. By “reserving” shares, you’re simply saying you’re interested in possibly investing if we move on to round 2. You’re in no way obligated. This helps us gauge our next steps. As far as “the man” goes, it’s partially a way to keep this fun, but to also shed light on the current ski resort industry trend of resort consolidations due to growing corporate acquisitions throughout North America which we believe is damaging the overall ski experience. You can read about it in detail on our StartEngine page (bit.ly/ownredmountain) under “The Current Industry”. This is also not a donation. There is ownership and equity involved.
If there isn’t enough interest then we will not advance to Phase Two with an equity offering.

Tiered Rewards

You can find the list of tiered investment rewards towards the bottom of our campaign page here.
The clubhouse will be a small cozy space for members only at the top of Grey Mountain connected to the public restaurant. It will include a fireplace and a few different social gathering areas and will have a bar with snacks. Yes, you can sign in a guest.
We continue to operate and invest in the resort.
You can allocate the perks to a friend or family member. 

Equity, Stock, & Ownership

A maximum number of shares will be established prior to going to market with the offering. The investment is in the existing partnership. Detailed information will be presented at the time of the official offering.
Assuming the “Test the Waters” stage is successful over the next 90 days then we will complete all of the legal work in order to go live with a formal offering in the Spring of 2017. At that time the governance model and financials will be available for all potential investors to review. The new class of shares will be non-voting.
Assuming the “Test the Waters” stage is successful over the next 90 days then we will complete all of the legal work in order to go live with a formal offering in the Spring of 2017. At that time the financials will be available for all potential investors to review.   
Round 1 is to first simply gauge interest in offering equity stake in Red. So if you’re “reserving” shares, you’re simply saying “hey, I’m interested in this” – there’s no financial obligation currently. Once we assess there’s enough interest/traction, we move onto Round 2 with actual equity and ownership in the company. This is when we release all financial documents and details, and when someone like yourself could invest real dollars in exchange for equity as well as the tiered rewards based on ownership level. 
We will prepare a current valuation table between the closing of the Test the Waters phase and the actual raise using the most current comps.  Once we have determined the value and the percent of ownership that the $10,000,000 represents, it will be a very detailed part of the offering. Having said that, Management has a duty to its existing and potentially new investors to be fair, equitable and transparent.  We intend to do all three when releasing all documentation for Phase II if we are successful in this first phase.  
To be clear – this is not a campaign to get investors’ money back. We’ve publicly laid out our plans with this raise within our campaign – and its goal is to invest back in the resort and the ski experience for our guests for generations to come. Last year was the best financial year in history and we are wanting to keep that momentum going in a way that supports our beliefs of community and sustainability for a place that we believe is special within the ski resort world. We are doing this by bringing forward an extremely unique opportunity to like-minded individuals and adventurists that believe places like RED are important to keep around (while also giving them awesome perks to enjoy their investment) in the midst of a growing trend of corporate acquisitions that are slowly continuing to ruin the ski and snowboard experience.  

Oh and we’d argue we’re not that hard to get to – it sure beats driving I-70 through Colorado! 🙂  

The investment will be the same for investors in Canada or the United States, but the procedure for investing and the transferability of the investment after purchase will be different.  

All investment amounts will be denominated in U.S. dollars and any Canadian dollar investments will be converted to U.S. dollars at the time of investment.  Canadian investors will therefore be accepting currency exchange risk in respect of their investment.

Investors in Canada and the United States are both required to receive and review the Canadian Offering Memorandum prior to investing.  In the U.S., investors also have to review the U.S. offering statement.

In Canada, the offering will be made only in British Columbia and Alberta.  In the United States, the offering will be made in all states.  Investors in B.C. and Alberta will be required to execute a risk acknowledgement form, and in Alberta may be limited to investments of $10,000 or less, depending on the investor’s eligibility.

While the investment (Class D Units) will not be listed on any exchange, investors in the United States may transfer their investment to any purchaser (subject to approval by Red Mountain).  In Canada, investors can only transfer their investment under applicable prospectus exemptions.  These exemptions include transfers to high net worth individuals (“accredited investors”). 

If there is sufficient interest from investors in Canada outside of British Columbia and Alberta, the offering may be extended to other provinces and territories and, if extended, will allow investors in the additional jurisdictions to invest after they have received an offering memorandum. Generally speaking, there may be an opportunity to invest for non-accredited investors in all jurisdictions, but there may be conditions and restrictions on investment amounts, depending on the jurisdiction.
At this time we are testing the waters and if there is sufficient interest from investors in a jurisdiction outside of Canada / the United States, RED will look at accepting subscriptions from that jurisdiction when the offering documents are being prepared.  Stay tuned! Please express interest via the StartEngine site as this will ensure you receive email updates along the way while we are investigating the mechanism for accepting subscriptions from the UK.
No, only employees can be assessed taxable benefits by the company.
Assuming the “Test the Waters” stage is successful over the next 90 days then we will complete all of the legal work in order to go live with a formal offering in the Spring of 2017. RED is privately held and if the formal offering moves forward the governance model and financials will be available for all potential investors to review.  
The investment is liquid from the beginning.  In the US, you can sell to anyone, at anytime.  In Canada, you can sell to family and friends but not to a total stranger unless they are an “Accredited Investor”.  In phase two we will outline that in great detail.  Do not expect the resort to buy back your shares.  We are hopeful, in the long run that the total asset becomes more valuable and a good investment for all.  This is the long term objective but in the short term, within five years, we will be building the visits and the asset base.  The completion of the hotel will go a long way to increase the enterprise value. 
There is no custodian. There will be partnership units and the unit certificates are kept by our legal firm in the minute book.  When a transfer takes place, we will cancel the old unit certificate and issue a new one.  A copy of the new unit certificate can be e-mailed to the investor. 
This is not a club membership.  To be clear, each investor will be an owner of the entire resort. All assets. The clubhouse that we will be building is simply one of the perks that will be available to each investor. 
We’re offering a new class of Series D equity ownership. Each ownership interest will be non-voting and have what we call “tag along” rights with managements decisions. This Series D equity will be subordinate to the original Series B and Series C of ownership. Full details of your ownership rights will be clearly defined in the Phase ll documentation. 
To be clear, the management of Red Mountain is not holding back a valuation of the company, only to ‘bait and switch’ our loyal fans.  We haven’t embarked on this effort only to anger everyone who is putting their trust in us.  To come up with a correct valuation is something that we need to spend considerable time investigating between the closing of the Test the Waters phase and the actual raise.  Once we have determined the value and the percent of ownership that the $10,000,000 represents, it will be a very detailed part of the offering.  Having said that, we would never up the value of the company as a result of greater demand.  They have nothing to do with each other and not a RED way of thinking.  Management has a duty to its existing and potentially new investors to be fair, equitable and transparent.  We intend to do all three if we are successful in this first phase.  Ultimately, if someone does not trust management, then we suggest they do not invest. With that being said, our management team lead and live by the highest ethical and moral standards.

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