Sales of Faer Isles Founder's Club memberships begins.
Launch of share emission campaign for members of Faer Isles Founders' Club (certificate holders).
Round 1 of share emission/crowdfunding campaign starts for the general public.
Round 1 share emission/crowdfunding ends.
The board of Faer Isles Distillery presented to the new shareholders at our Annual General Meeting a suggestion that shares will be created as security tokens, and that the Faer Isles Token will be launched for trade.
At our Annual General Meeting the board was given permission to raise the capital of the company though sales of A-shares to private investors and to do a second round of crowdfunding.
Closed sales of A-shares to private investors. Loans secured. Together this means that total CapEx investment needs are covered, and the project is fully funded.
Round 2 of share emission/crowdfunding campaign scheduled for Q1 2022. Funding intended to refinance loans and secure growth and expansion.
Purchasing of land for the Faer Isles distillery, warehouses, and visitor center in Kvívík.
Initiate refurbishment of interim distillery in Vestmanna with capacity of 500 LPA pr. week of new make whisky and gin.
Develop Kvívík site. Preparations for building Phase 1: the warehouses.
Initiate refurbishment of visitor center at Vestmanna site, including bar, showroom, offices and restrooms.
Warehouse in Kvívík completed for storage of casks for whisky production.
Preparations for building Phase 2: the distillery in Kvívík
Distillery building finished. Equipment to be installed and tested.
Start of production in new distillery in Kvívík.
Preparations for building Phase 3: the visitor center.
Visitor center finished.
Startup of test production in lab facilities in Tórshavn Faroe Islands and in Copenhagen Denmark. Experiments with production of whisky and of gin, using seaweed and other extracts of local botanicals.
Setup of 400L gin distillery equipment at interim distillery in Vestmanna.
Test production of gin and akvavit.
Commercial production of gin and akvavit.
Setup of whisky distillery equipment at interim distillery in Vestmanna with capacity of 500 LPA pr. week, producing new make whisky.
Test production of whisky starts. New make spirit is put on casks for maturation.
First batch of whisky is matured for 3 years.
Alcohol abuse is dangerous for health. Drink responsibly.