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​Chocolate pledging starts Monday morning

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Monday is the day for action if you want to own a stake in a chocolate company and support a regional development initiative.

At 7am on Monday (13 November 2017) the PledgeMe equity funding campaign for OCHO goes live. Our aim is to raise $2 million so we can buy some more chocolate making equipment, lease & fit out a bigger production space, and have some working capital to make it all happen.

PledgeMe is a crowd-funding platform, which is a new and fun way to raise money and which allows us to get investors while still being a small company. It gives us a way whereby we can turn to our crowd of friends, families, customers and fans and ask them to help support our campaign. Based on the initial pre-pledge round a few months ago, when more than $5 million was pledged, we're expecting the campaign to fill quickly. So, don't dilly-dally on Monday morning!

Essentially investors will be buying shares in a new company (OCHO NewCo), which will buy the assets and expertise of OCHO and use that as the platform for a bigger chocolate company. OCHO will continue to make premium quality chocolate and we'll always be based in Dunedin as we're very committed to keeping manufacturing alive in the regions.

The team behind our campaign are (left to right) Stewart Cowan, Vito Iannece, Anna McDonald, Tami Louisson, Liz Rowe, Rachel Elder, Nicola McConnell and Jim O'Malley

Our share offer is a little different from the ordinary in that we want to attract as many investors as possible. To that end the minimum investment will be one share, costing $100, and the maximum investment will be 2,514 shares, which is 11% of the total. All up, equity crowd-funders will own 87.5% of the company. Instead of one or a few large 'cornerstone' shareholders, OCHO will be owned by a broad base of investors across the country. Perhaps most importantly, every shareholder will be able to buy award-winning OCHO chocolate at a discounted price.

There's more information about our plans, who's involved, and what we're after in the OCHO offer document which you'll find here on this page.