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OFFON

GAUCHO GROUP HOLDINGS, INC.

(VINO)
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Gaucho : To Acquire Additional Real Estate Assets in Argentina in Non-Cash Transaction to Increase Shareholder Equity

09/14/2021 | 12:42pm EST
Gaucho Group Holdings To Acquire Additional Real Estate Assets in Argentina in Non-Cash Transaction to Increase Shareholder Equity
Download as PDFSeptember 14, 2021 12:30pm EDT

NEW YORK, NY / ACCESSWIRE / September 14, 2021 / Gaucho Group Holdings, Inc. (NASDAQ:VINO), a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods & accessories, today announced that its shareholders had approved the purchase of additional land holdings in Argentina in an all-stock transaction valued at approximately $2.4 Million. The purchase price was determined from an evaluation of the real estate performed by an independent third-party.

Located in Argentina, the properties were acquired from the related, but independent entity, Hollywood Burger Holdings, Inc. ('HBH'). One of the property lots is located in the San Rafael, Mendoza region of Argentina, and the other in Córdoba, Argentina, with the estimated fair market value of the combined properties totaling approximately $2.4 Million. Both properties are located on major thoroughfares, seeing significant foot and street traffic, and both with ample parking, a feature considered a rare benefit in Argentine cities.

Scott Mathis, CEO & Chairman of Gaucho Holdings commented, 'This transaction is one more of many potential opportunities for strategic and accretive acquisitions. Of the two properties, one of them currently generates positive cash flow through lease revenues and will be accretive to the company, and we expect the other to have substantial development opportunities. We believe both are in prime areas ripe for development, and we believe the valuation of the real estate was temporarily lowered because of the Covid crisis which could allow for substantial appreciation in the years ahead.'

About Gaucho Group Holdings, Inc.

For more than ten years, Gaucho Group Holdings, Inc.'s (gauchoholdings.com) mission has been to source and develop opportunities in Argentina's undervalued luxury real estate and consumer marketplace. Our company has positioned itself to take advantage of the continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com), and luxury real estate (algodonwineestates.com) associated with our proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho - Buenos Aires™ (gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Media Relations:

Gaucho Group Holdings, Inc.
Rick Stear
Director of Marketing
212.739.7669
rstear@gauchoholdings.com

Investor Relations:

John McNamara
917-658-2602
john@tradigitalir.com

SOURCE: Gaucho Group Holdings, Inc.



View source version on accesswire.com:
https://www.accesswire.com/664024/Gaucho-Group-Holdings-To-Acquire-Additional-Real-Estate-Assets-in-Argentina-in-Non-Cash-Transaction-to-Increase-Shareholder-Equity

Released September 14, 2021

Disclaimer

Gaucho Group Holdings Inc. published this content on 14 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 September 2021 16:41:08 UTC.


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Financials (USD)
Sales 2021 3,58 M - -
Net income 2021 -6,17 M - -
Net Debt 2021 0,17 M - -
P/E ratio 2021 -1,67x
Yield 2021 -
Capitalization 23,6 M 23,6 M -
EV / Sales 2021 6,64x
EV / Sales 2022 2,92x
Nbr of Employees 69
Free-Float 89,2%
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Technical analysis trends GAUCHO GROUP HOLDINGS, INC.
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Mean consensus BUY
Number of Analysts 1
Last Close Price 2,39 $
Average target price 11,46 $
Spread / Average Target 379%
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Managers and Directors
Scott L. Mathis Chairman, President & Chief Executive Officer
Maria I. Echevarria CFO, COO, Secretary & Treasurer
Peter J. L. Lawrence Independent Director
Marc Dumont Independent Director
Steven A. Moel Independent Director