Congratulations to the residents around Quimper Peninsula and the Quimper Mercantile on an incredible Direct Public Offering, successfully raising $425,000 with 520 citizen investors over a 2-3 month period. Why did they do this? From the Quimper Merc website:
We are a diverse group of business-oriented Quimper Peninsula residents concerned about the loss of Port Townsend’s Swain’s Outdoor & More store and the gap that it leaves in our community’s ability to provide for basic mercantile needs. We are also concerned about the negative impact this gap can have on the practice of shopping locally; a practice that is important in fostering the economic viability of our Quimper community.
It is incredibly encouraging to hear about the success of an entirely citizen-led effort to come together as a group to solve a community problem. Congratulations again and stay tuned on members of the Quimper Merc group joining us in Portland for the Jumpstarting Local Investing event in June!