We’re Raising a Glass to Reaching our Crowdfunding Target | The Lakes Distillery We’re Raising a Glass to Reaching our Crowdfunding Target – The Lakes Distillery

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 was much higher than originally anticipated, allowing us to accept further investment to a cap of £1.75m. By 30 days we were thrilled to find that we had reached this figure!

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!

 

 

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4 Comments

  1. Frances Ann McKenna

    After watching BBC Look North I wish to invest £10 as believe you will go from strength to strength. Please let me know how to proceed. Thank you.

  2. Amanda and Dave Roberts

    I am still struggling to understand how this works
    1. If I invest chances are I won’t see any dividends?
    3. Most start up businesses fail -and if Lakes does, my investment is lost
    3, It’s not on the stock exchange so I can’t sell share if market is good

    Other than being able to say I have shares in Lakes Distillery, what is the “investment incentive” for an investor. Again, as in a previous question I asked, it sounds more like a donation.

    Please explain

    • Lauren Scott

      Hi Amanda and Dave

      Thanks for taking an interest in our project.
      For all investment related enquiries please post directly to our CrowdCube forum where a member of our finance team will respond accordingly.
      Here is the link http://www.crowdcube.com/lakesdistillery

      Kind regards, Lauren. The Lakes Distillery Team

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