Gaucho Group Holdings, Inc.

09:38 AM EST - Gaucho Group Holdings, Inc. : Announced the completion of its winery's multi-year expansion and infrastructure improvement initiative, that has resulted in a larger and better equipped facility to produce premium quality, small batch wines. Algodon Wine Estates, an award-winning winery located in San Rafael, Mendoza, Argentina, has over the past 36 months placed significant investment into the acquisition of additional stainless steel tanks, new French oak barrels, and the expansion of its winery and wine cave, including: improvements to its microvinification area and wine cellars that includes stone wall finishings that have been quarried from the local Sierra Pintada Mountains, and produce natural temperature control ideal for barrel aging and storage; the addition of new stainless-steel tanks specially created to produce quality small batch wines, a new tasting room lined with wine racks for bottle aging, and featuring a central keystone, iconic and grand in scale, that was hand selected and quarried from the local Sierra Pintada Mountains, and serves as a tasting table in the center of the tasting room; a new bottling center with improved technology and machinery, as well as a grand rooftop terrace above the winery offering sweeping vineyard views, intended for wine tastings, special occasions and other social events. Algodon's current winery capacity includes 485,000 liters (or approximately 546,000 bottle equivalent), which can be broken down to include tank storage of 280,000 liters, barrel storage of 135,000 storage, and 70,000 liters of bottle storage. Gaucho Group Holdings, Inc. shares N.VINO are trading unchanged at $1.05.

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