-The Magic Partnership Closes-Out Capital Raise with 333 Shares Sold-
March 7, 2012, Londonderry, VT-One month after selling its 300th share, the threshold needed to begin the skier-owned Magic Partnership LLC, Magic Mountain finished raising the maximum shares allowed for the investment with 333 shares sold at a price of $3,000/share for a total capital raise of $999,000.00. Much of this capital will go toward improving the snow-making capacity at the 50-year old ski area.
The final shares came just as Magic was experiencing southern Vermont-s first major snow storm of 2012 which dropped upwards of 18- of snow last week to bring a couple of renowned Magic powder days to skiers and riders.
-Our skier community stepped up at a critical juncture with an eye toward not only keeping this legendary ski area alive, but helping it thrive long into the future-, said Jim Sullivan, president of Magic Mountain. -There-s much work to be done, but when you see the smiles and high-fives of skiers and riders enjoying Magic, even in a winter as challenging as this one, we know that the commitment and effort ahead will be rewarding.-
About Magic Mountain Ski Area
Magic first opened in 1960 and will be celebrating this season its 50th anniversary of peak to bottom skiing dating from 1962, which to this day, is still one of the most exciting, challenging and authentic Vermont ski experiences. Different than the corporate resorts, Magic has stayed true to the original Vermont ski culture. Magic skiers enjoy a mountain emphasizing natural, diverse ski terrain in an atmosphere of shared camaraderie for the sport both on the slopes and in the lodge after a long, rewarding day. Magic has an authentic vibe because, in reality, it still remains first and foremost a ski area, not a -resort–and a distinctly Vermont one at that. It-s a community spirit that keeps Magic thriving for those committed ski and riding enthusiasts who want to -take the road less traveled- and experience real snow and obstacles that mother-nature puts on the hill. And, it-s why Magic skiers love the mountain so much that they have invested in the ski area via The Magic Partnership in order to enhance and preserve it for future generations to enjoy.