We are delighted to announce that we have raised over £1.7m in our recent equity crowfunding campaign and share placing for our fast growing beer and cider business, Curioud Drinks. The campaign, which went live on the Seedrs crowdfunding platform in October 2015, has raised £1,710,700 with 895 investors, exceeding our original £1m target by 71%.
£1.16m has been raised through the crowdfunding, enabling both customers and traditional investors to participate in the offer. We are pleased to welcome 895 new shareholders, with individual investments ranging from £100 to £35,000. Shareholders benefit from a comprehensive package of shareholder rewards including free tours, an ongoing 25% discount on Curious beers and cider, limited edition beers and their names etched on brewery fermentation tanks. It was humbling to see that a particularly high level of interest has been from our home county of Kent, the source of almost a third of investments, demonstrating the support from the local community.
A further £550k has been raised through the Placing, including £275k from the directors of Curious Drinks and Chapel Down. Placing will remain open for investments of over £25,000 until 30 April 2016.
The new funds will be used to construct a state-of-the-art brewery and visitor attraction in the heart of Ashford, Kent, offering ideal transport links to London and the continent. Construction is expected to begin in Summer 2016 and be fully operational by Spring 2017. Proceeds will also be used to further strengthen the Curious Drinks team, enhance its domestic and international routes to market and further develop the brand.
Frazer Thompson, CEO, commented: "The success of our crowdfunding campaign is further testament to the revolution taking place in the British beer business. Customers want great beer and we’re delighted that they love Curious as much as we do. We are pleased to welcome nearly 900 new shareholders who we know will become fantastic brand ambassadors.
"Since launching Curious Drinks, we have been thrilled by its rapid success. But to have earned the support of 895 shareholders who believe in the brand and who want to support us on our journey with their hard earned cash is truly humbling.”