Scottish craft brewer Innis & Gunn has extended its min-bond by an extra month after raising £2.5m of its £3m target.

The mini-bond, which offers investors an interest rate of 7.25% gross interest per annum, has been extended until 16 July.

UK investors are also able to opt for for the BeerBucks BeerBond™, which offers an equivalent of 9% gross interest rate per annum, with the return taken in the form of ‘BeerBucks’, which can be redeemed against beer at the Innis & Gunn online shop. Applications for both mini-bonds are available for investments from £500.

The money raised will fund the creation of a brewery, bottling line and barrel store in Scotland.

The company is currently in advanced negotiations to buy a piece of land in South East Scotland for the new brewery.

Dougal Gunn Sharp, founder of Innis & Gunn, said: “We have been delighted with the response and the levels of investment coming in. We set out to raise £3m and we’re almost there. We always wanted this project to bring us closer to our fans and the wider craft beer community and it absolutely has - the feedback we have had has been phenomenal.

“Over the last week, we’ve seen surging levels of interest from a spread of investors and as a result have taken the decision to keep the mini-bond open for a further month. We’re learning as we go with the launch of this mini-bond and the mix of applicants has been of real interest to us - we’ve attracted more than 840 individuals, from Innis & Gunn ‘fan-vestors’ to well-seasoned investors, predominantly in Scotland and South England. Investment levels have ranged from the entry level £500 to over £100,000, which indicates we’re attracting an interesting cross-section of people.”