SAM Magazine—Rossland, B.C., Canada, Aug. 24, 2016—Red Mountain, the oldest ski resort in Western Canada, is turning to a new funding source: the internet. In what may be an industry first, it is turning to equity crowdfunding.

“RED started as a ski club that was owned by the community,” said Red CEO Howard Katkov. “You can feel it in the spirit of the place, the camaraderie, the spark. Our shared community values and the current consolidation of the resort industry make now the perfect time to help save this endangered species.

“We have the snowfall, vert and world-class terrain to go boot-to-boot with the Big Guys, but have consciously maintained our mom 'n' pop/weird uncle feel for over 100 years. Think of this as a family investment.”

Round one of the campaign, “Test the Waters,” went live Aug. 23. If the offer gains traction, Red will file the necessary offering paperwork in the U.S. and Canada. “We're really looking for our hardcore fans to throw down here,” Katkov said. The minimum investment is $1,000, and all investments come with additional perks, including access to a brand-new clubhouse on the mountain to various lift-ticket breaks.

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