What a week it’s been! We’ve been raising a toast this week as we’ve reached our crowdfunding target of £1m in a matter of days.
We’ve been blown away with the support from our existing Founder members and Connoisseurs alongside welcoming a new raft of interested parties and investors from across the UK. The speed at which we have reached the £1m mark really proves that interest in English malt whisky is on the rise, and we are delighted to welcome new shareholders to the business.
This week, we’ve featured on the BBC Look North TV programme, had two large features in the Journal in the North East, even been in the Times daily newspaper, and all in the meantime our chairman met Nicola Sturgeon at a business lunch!
We were expecting the Crowdcube raise to take up to 30 days but demand has been much higher than originally anticipated, meaning we can still accept further investment to a cap of £1.75m.
Our co-founder Nigel Mills commented, ““It’s quite common for people raising money to extend beyond the minimum. So, if people are wanting to invest they can do so.”
The Distillery will use the additional funds to invest further in whisky stock, which costs the business £1m per year. It will also allow us to push ahead with our growth plans, buy a new state of the art whisky maturation warehouse in 2018, and focus on our exporting activity.
So cheers to the end of a fantastic week and thank you for your support!