It's official: Lost Lake Festival cancelled for 2018

- Officials with the Lost Lake Festival have officially announced their decision to cancel the festival for 2018.

The decision was announced, via a tweet late Friday afternoon.

The tweet was posted at 6:04 p.m. on Friday, just hours after media reports of its impending cancellation. The statement did not state a reason behind the cancellation, but did say that all ticket purchases, including processing fees, will be automatically refunded in full.

"We came to Phoenix because we were inspired by the amazing emerging arts, culture and food scene of the city, and wanted to capture this creative force with a festival as unique as the community," read a portion of the statement.

Officials with the festival also said they are planning to distribute the $25,000 they raised at 2017's festival to a number of local charities.

The statement did not mention whether the festival will make a return in 2019.

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