4/13/17 Update:
Thank you to everyone for an amazing season! We’ve officially launched the equity offering dates for Canada and the U.S.

We plan to have formal Phase II offering documents ready for Canadian investors August 14th and for US investors November 2nd (due to the differences in securities regulations, the US offering documents will take longer to finalize). This will still allow all investors to have at the very minimum their lift tickets and/or season passes in hand when the lifts start running at RED in the winter of 2017! No matter when you invest though, you will get your tiered rewards as set out on RED’s StartEngine webpage. For international investors, we will be getting back to you in the summer after reviewing the number of reservations in your jurisdiction, and where appropriate, the legal requirements for investing in that jurisdiction. For all Canadian investors, StartEngine and RED Mountain will be officially partnering with FrontFundr, a registered dealer in Canada, in order to collect subscriptions (your investment) in Canada. More details will be provided in the near future, stay tuned!

We hope you’ll continue to track our progress on this vanguard initiative and continue to support independent skiing and snowboarding. If you have any questions not covered by the extensive FAQ, I will be able to respond to them personally at the bottom of this page.

2/9/17 Update: We’ve Hit Our $10 Million Goal!
We’ll continue to take reservations until we go live for Phase 2 in Fall 2017!

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Click Here to Vist Our Campaign Page »

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, We anticipate 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 Phase One is used to gauge interest in what we are offering. By “reserving” equity, you’re simply saying you’re interested in possibly investing if we move on to Phase Two. 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 find ways to improve the resort.
You can allocate the perks to a friend or family member.  

Equity, Stock, & Ownership

This investment is in an existing partnership. A maximum number of partnership units to be issued under the offering will be established prior to going to market with the offering. Detailed information will be provided at the Phase Two offering stage.
Assuming the “Test the Waters” stage is successful then we will complete all of the legal and audit work in order to go live with a formal offering in the Summer of 2017. At that time the governance model and financials will be available for all potential investors to review. The new class of partnership units will be non-voting.
Assuming the “Test the Waters” stage is successful then we will complete all of the legal work in order to go live with a formal offering in the Summer of 2017. At that time audited financials will be available for all potential investors to review.   
Phase One is to first simply gauge interest in offering an equity stake in Red. So if you’re “making a reservation”, 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 Phase Two with actual equity and ownership in the partnership. 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 and capitalization table between the closing of the Test the Waters phase and the actual raise using the most current information, including the CDN/USD exchange rate, existing debt levels and market conditions. Once we have determined the value and the percentage of ownership that the USD$10,000,000 represents, there will be very detailed disclosure provided as part of the offering in Phase Two.   
To be clear – this is not a campaign to get investors’ money back and no funds raised in the offering will be used to repay previous equity. 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.  
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 of acknowledgment form and in Alberta may be limited to investments of CDN$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.
Assuming the “Test the Waters” stage is successful then we will complete all of the legal work in order to go live with a formal offering in the Summer 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.  
In the US, you can sell to anyone, at anytime, subject to the terms of the partnership agreement. In Canada, you can sell to family and friends of management of RED but not to a total stranger or to your own family or friends unless they are an “Accredited Investor”, subject to the terms of the partnership agreement. In phase two we will outline that in great detail. Do not expect the resort to buy back your partnership units. 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. Any transfers require the new limited partner to make certain representations and warranties regarding investor status, etc. as set out in the partnership agreement and to covenant to comply with the partnership agreement.
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.
The partnership units will be transferable to your family or for estate planning if done so by way of gift / bequest and no payment is required by the family member receiving the partnership units. Any transfers require the new limited partner to make certain representations and warranties regarding investor status, etc. as set out in the partnership agreement and to covenant to comply with the partnership agreement.
This is not a club membership. To be clear, each investor will be an owner of an equity interest in the Red resort. 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 Class D equity ownership. Investors will receive equity in the form of “Class D Units” in Red Mountain Ventures Limited Partnership (“Red Mountain”).  There are also Class A, B and C Units in Red Mountain. You will be investing in an existing partnership and you will be receiving partnership units.
 
The Class D Units you receive will have priority over the other classes of units in terms of return of investment upon sale or out of distributions – last money in, first money out!
 
Investors in Class D Units will also receive the applicable Tiered Investment Reward for investing as outlined on our Start Engineplatform.
 
Class D Units will be non-voting.  We hope that by providing each of you the advantage of a last money in, first money out priority on your Class D units it will make up for the absence of voting rights. 
 
Class D Units will be issued in Canadian dollars. Investors investing in US dollars will have their investment converted to Canadian dollars on the completion of the offering at the exchange rate in effect at the close of the business day prior.
To be clear, the management of Red Mountain is not holding back a valuation of the partnership, 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 preparing between the closing of the Test the Waters phase and the actual raise. A number of factors will be relevant, including the USD/CDN exchange rate, existing debt levels and market conditions. Once we have determined the value and the percent of ownership that the USD$10,000,000 represents, there will be very detailed disclosure provided as part of the offering in Phase Two.

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