Crowdfunding has opened the door for the public to buy small stakes in local wine operations.
Wineries are exploring new ways to attract investor dollars while bolstering emotional connections with customers.
Winery principal Christine Coletta told BIV that she and husband Steve Lornie own about 1.5 million shares in the business and they plan to sell up to 600,000 shares through securities crowdfunding. Coletta priced the winery’s shares at $15 each, and set the minimum purchase at 30 shares. That pegs its market capitalization at around $22.5 million.
The British Columbia Securities Commission allows accredited-investor exemptions for those who have $1 million in financial assets before tax, net of debt, and not including a home or real estate. “The pride of ownership — the pride of sharing wine from your winery with your friends and taking your friends for a visit to your winery is very, very compelling,” Fawcett said.
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