A second share offer for the GlenWyvis community-owned distillery, is being launched this week with almost 350 people having already pre-registered an interest.
As construction of the Dingwall distillery reaches the final stages, GlenWyvis Distillery Community Benefit Society has brought forward its second share offer to open the door to new members and will launch it this week on Thursday August 3rd at the Black Isle Show with a special launch share offer prize draw will be open on the day to new investors.
Commenting on overall progress to date, David O’Connor, chairman of GlenWyvis Distillery said:
“These last few weeks have really seen great change on site, as the exterior walls have gone up, the stills and mash tun delivered, and adverts for the distillery manager and visitor centre development officer making it all very tangible now.
“It is great to see the distillery coming together, showing investors and the local community alike that our plan is on schedule. Our second share offer will help to accelerate our brand development plans as we get down to the real business of making whisky – with our sights firmly set on the first run of spirit in November 2017.”
GlenWyvis already has some 2,600 members who invested in the original share offer in 2016 and this new share offer opportunity capitalises on continued interest from locals and visitors alike. The minimum investment will be £250 for all investors and supporters will also be able to pay extra to have their name added to the distillery wall or the ‘path to the stills’.
The initial target of £750,000 will help to bring forward the distillery’s development plans in line with feedback received from members in a recent survey. This will include extending the GlenWyvis brand and product offering, bringing gin distilling into Dingwall, and further development of the GlenWyvis visitor experience in and around the town.
GlenWyvis Distillery founder and managing director, John McKenzie said: “It is an exciting time, and this new share offer will not only help us to fast-track our brand, but will reduce commercial lending costs, so we can deliver on our community benefit remit sooner. We’ve already created three full-time jobs, with two more advertised now, and up to six more likely to be required when the distillery opens in November. We secured a very strong following in our first share offer and we remain on schedule with the building. Almost 350 new investors have already come forward to pre-register for this second offer – which is fantastic – and we have introduced great incentives in a prize
draw for anyone who invests on Thursday, the day of the launch.”
David Taylor of Highlands and Islands Enterprise added: “We have been very pleased to support GlenWyvis Distillery and it’s great to see this community-led project now nearing the point of distillation and production. The food and drink sector a is hugely important part of Scotland’s economy, and we are already punching above our weight in the Highlands and Islands, particularly for whisky. We are looking forward to helping GlenWyvis develop a strong brand and fully exploit its international potential.”
Simon Walker, Head of Campaigns at crowdfunder.co.uk said: "The GlenWyvis Distillery is a truly unique project to create the world’s first 100% community-owned whisky distillery. Following last year’s successful crowdfunding campaign with over £2.5million raised, we're delighted that the team has decided to use crowdfunder.co.uk once again to help kick-off the next phase of funding.
“As a project which gives people a chance to play an active role in this venture, we’re excited to see not only the development of the distillery itself, but how the community continues to work together to make the project a reality. We look forward to raising a glass with John and his team over the next couple of months.”
Further support has also come from Community Shares Scotland and commenting on the next offer Sandra Macaskill, CSS programme officer, said: “We are delighted to be able to support GlenWyvis for a second time, as the next crucial stages get underway. It has been a very engaging community project to date, bringing a significant boost to the Dingwall area, especially now the distillery build and staffing are well underway. It has also given others a great example of a successful community share offer and inspiration for future projects considering funding this way.”
Full details of the open share offer, naming options and Thursday’s prize draw* are available on the GlenWyvis Distillery website at www.glenwyvis.com.
Investment can be made online via www.crowdfunder.co.uk or www.glenwyvis.com from 10.00am on Thursday 3 rd August.