Strong early interest in Highland distillery shows project is well on track
COMMUNITY Shares Scotland and GlenWyvis Distillery Community Benefit Society are seeing steady uptake in shares following their recent Community Share Offer launch with a current total of £517,174 in pledges to date*.
GlenWyvis based in the historic Highland town of Dingwall aims to create Scotland’s very first community-owned craft whisky distillery, 270 years on from the Battle of Culloden.
GlenWyvis aims to raise over £1.5m of investment that will help to put whisky distilling back at the heart of Dingwall.
To ensure a high level of local ownership of the distillery, locals living in ‘IV’ postcode areas can invest for as little as £250.
Investment opportunities start from £750* for UK and international investors interested in buying into Scotland’s first community owned distillery with tranches* of investment rising to a maximum investment of £100,000.
The distillery is the brainchild of the ‘Flying Farmer’, John F Mckenzie, supported by a board of directors and local community representatives.
John said: “We are seeing a very strong early interest in our community share offer, so we are urging people to move quickly on investing. It is a great chance to be a part owner of a Scottish distillery and make a social investment that will benefit the local community too.
“We have a truly winning combination here of a stunning Scottish Highland location, immense historical appeal linking back to Culloden, Burns and Ferintosh and readily-available hydro, solar and wind energy to bring this innovative whisky project to fruition.”
He continued: “From the outset, we have envisaged the project as more than a distillery.
“It is an opportunity for all social investors to help reinvigorate the historic town of Dingwall.
“GlenWyvis will be built on its whisky heritage, its community-ownership and its environmental credentials. We have amazing local resources and will be using only local barley from a farmers’ cooperative – hence our strapline built on history – powered by nature.”
Commenting on the share offer, Kelly McIntyre, programme manager, Community Shares Scotland, said: “Early indications are showing this community share offer has real appeal for both locals and whisky enthusiasts further afield and we are impressed at the level of interest and steady investment shown from the start and encourage interested parties to make their pledge today.
“GlenWyvis has a truly international appeal with an amazing whisky heritage story which will strike a chord with expat Scots and the Scottish diaspora, worldwide, and has the added impact of sitting nicely along the North Coast 500 route.
“And with its historic story links to Forbes of Culloden there is all the more reason for investors and visitors alike to become involved.”
Kelly added: “It is one of the biggest community projects we have been involved in to date and we hope it will make a seismic impact in the kind of projects that we will see coming forward to work with Community Shares Scotland in the future.”
Whisky has been made in Ross-shire and Inverness-shire for centuries and inspiration has been taken from former distilleries: Ferintosh, Ben Wyvis in Dingwall and Glenskiach in Evanton.
The original Ferintosh Distillery was established by the Forbes of Culloden family in 1690, on the Black Isle just east of Dingwall, and is one of the oldest-recorded whisky distilleries in Scotland.
The new distillery will re-instate craft whisky distilling to the Dingwall area, some 90 years after the last of the town’s original distilleries closed down.
The famous Ferintosh brand of the day was a much loved whisky throughout Scotland and was a favourite of Scotland’s great bard, Rabbie Burns, who lamented: “Thee, Ferintosh! O sadly lost! Scotland lament frae coast to coast!” … on its closure in 1785.
The new GlenWyvis Distillery will be built on a farm above the town of Dingwall and will be 100 per cent community-owned distillery and 100 per cent powered by green energy.
Graeme Roy, Crowdfunder, head of Projects said: “We are delighted to be working with such an innovative project that celebrates Scotland’s heritage and give people the chance to invest in a community share initiative that will have such a positive impact on the local community; creating jobs, attracting visitors and benefiting other local enterprises.”
Construction of the distillery is due to commence in June 2016 with the first run of whisky planned for Burns Night 25 January 2017.
The distillery will produce craft Scottish whisky and there are plans for an associated visitor centre in the town to be added as part of a wider plan to recreate Dingwall as the Craft Distillery Town of Scotland, and as a quality tourism destination on the North Coast 500 route.
The GlenWyvis Community Share Offer opened on 16 April 2016 and closes on 24 June 2016. However, the board reserves the right to extend this deadline if the amount raised is close to the total required to proceed.
Details on how to invest in GlenWyvis Community Share Offer along with the Share Offer Notice can be found here: www.communitysharesscotland.org.uk, http://www.crowdfunder.co.uk for international investors.
* Pledges correct at time of writing
For further information on Glenwyvis Community Share Offer Number 7305, contact:
John F. Mckenzie: founder/owner
F: GlenWyvis T: @glenwyvis
For further community shares information contact
Kelly McIntyre: Community Shares Scotland, programme manager
For information check out: http://www.communitysharesscotland.org.uk
For press information contact
Fiona Stewart, PR consultant, Interwoven PR
E: email@example.com/T: 07940560453 Tw: @interwovenpr
Notes to editors:
A short video in support of the GlenWyvis Distillery Community Share Offer can be downloaded here and used for broadcast purposes with permission.
* Investment amounts and rewards: The price of a share in GlenWyvis Distillery is £50, with a minimum investment of £250 to become a member. If you are struggling to afford £250 but want to invest, we can offer joint memberships where people club together to buy a share or discuss staged payments. The maximum investment is £100,000.
Tranches and rewards
Invest £250 – £749
Postcode restriction to IV postcodes in Scotland.
One bottle gin now, t-shirt and bottle whisky in year three.
Invest £750 – £2,499
Two gin now or two inaugural whisky between Burns Day 2020 and St Andrews day 2020, t-shirt now and private distillery tour for two in 2018.
Invest £2,500 – £4,499
Six gin now or six inaugural whisky between 25/1/20 and 30/11/20, two t-shirts now and shared distillery tour in 2018 plus tour for two including 20-minute helicopter whisky history tour in 2017 flown from Dalcross Airport, Inverness, by The Flying Farmer.
Invest £4,500 – £7,499
One 64l ‘first fill’ sherry cask filled with 64l New Make spirit at circa 63% abv (please see terms and conditions on our website). Plus six gin now, two t-shirts now and shared distillery tour in 2018 plus tour for two including 20-minute helicopter whisky history tour in 2017 flown from Dalcross Airport by The Flying Farmer.
Invest £7,500 – £14,999
One 128l or two 64l ‘first fill’ sherry cask filled with New Make spirit at circa 63% abv (please see terms and conditions on our website). Case of gin now, two t-shirts now and private tour for four in 2018 plus tasting masterclass at distillery and 30-minute shared helicopter whisky history tour for two in 2017 flown from Dalcross Airport by The Flying Farmer.
Invest £15,000 – £49,999
Fill Hogshead Cask personally in 2017 and add your name on wall or roof of distillery plus case of gin now and bottle of whisky every Burns Day till year ten including New Make spirit. A private extended 30-minute helicopter whisky history tour for four flown from Dalcross Airport by The Flying Farmer plus a private tour and tasting master class for four in 2018.
Invest £50,000 – £100,000
Investments will be considered by application only and bespoke packages similar to above can be arranged
Casks are sold to you and become yours on successful application for shares. Detailed terms and conditions of your cask ownership are available on our website www.glenwyvis.com/. These include that UK Duty and VAT may be payable after bottling; that you are a private individual purchasing for private consumption or gifting and that you many not sell on or trade for profit, the bottled whisky. A 64l cask will produce around 100 bottles of whisky at 46% abv. Assuming a bottling cost of £5 per bottle and VAT and duty at current rates, each bottle would cost you £20.
Tax relief We have applied for advance assurance from HM Revenues and Customs (HMRC) that the shares in GlenWyvis Distillery are eligible for tax relief under the Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS) – these are Government-backed schemes designed to encourage investment in smaller companies. If you are a UK tax payer, investors in GlenWyvis Distillery can apply for income tax relief after the start of trading.
GlenWyvis Distillery (Dingwall) Limited has been established as Co-operative and Community Benefit Society with the specific purpose of owning and operating a community-owned whisky distillery and visitor centre in Dingwall to benefit the community of Dingwall.
Whisky stills will be supplied by the prestigious company, Forsyth of Rothes, and will be delivered in September 2016.
Green credentials: GlenWyvis Distillery will run entirely on energy produced using the renewable technologies – hydro, wind and solar already used on the farm. An advanced heating system will be powered by biomass and solar thermal and water from both the Skiach River and Tulloch Spring will be used to make the whisky with a borehole being used to supply the process water required.
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All facts correct at the time of publishing noted at the top of the press release.
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