12:56 PM EST - Gaucho Group Holdings, Inc. : Announced today is growth strategy leveraging its previously announced $44 million ELOC. With this funding now in place, the Company believes it can lay the foundation for growth of its assets in lodging, hospitality, wine & spirits, retail, and e-commerce. With an approved $44 million equity line of credit, the Company states it now has a funding mechanism for its growth plans in 2023 and beyond. This includes infrastructure expansion for its luxury vineyard estate development, Algodon Wine Estates, such as the build out of residential villas and commercial elements associated with the estate's sports and hospitality sector, as well as marketing efforts targeting its lot sales program. The Company previously announced that it anticipates its lot sales program can potentially generate $5 Million or more in sales in 2023 alone, and its planned 60-room hotel and spa (which is also slated to include 30-50 residences, and for which the Company seeks to co-brand with a luxury hotel brand) could generate an additional $25 million per year of revenue once complete. With the Masterplan's addition of 200 more lots, ranging in size from 2.47 acres to 6 acres, the Company anticipates the potential to generate more than $100 million in revenue. Gaucho Group Holdings, Inc.
shares N.VINO are trading up 39 cents at $1.62.
Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=VINO&qmodStoryID=8872371568706461
