Reefton Distilling Co. has announced that their investment offer has now exceeded the target of $1M.
Reefton Distilling Co. launched the offer seeking to raise between $1 to $2M in capital to scale up their whisky production to meet the global demand for New World whisky.
The offer, providing both retail and wholesale investors an opportunity to own shares in the distillery, previewed to the public via the Snowball Effect online platform in early August, receiving more than 1000 expressions of interest.
As of September 13, the total raised was at $1.4M, with a few days still left to run.
Funds invested to date are from both private individuals (who are pledging a minimum of $1000 and above) and larger wholesale investors seeking to secure a significant proportion of the shares on offer.
“It seems that New Zealander’s and beyond are keen to back a New World whisky made right here on the West Coast of New Zealand,” says Founder and Chief Executive, Patsy Bass.
“We’re at an exciting stage of development as a business, as our distillery begins the journey to scale to optimal production.
“Demand for our gin, vodka and fruit liqueur is well-established and we’ve proven our ability to innovate and execute, which is important in underpinning the future success of our business.”
Capital raised will be used to fund investment in Reefton Distilling Co.’s Moonlight Creek whisky inventory, the launch of their three-year release whisky, and operations.
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