Brunton Vineyards Signs Letter of Intent to Acquire Jeriko Vineyards & Winery.SAN FRANCISCO -- Brunton Vineyards, Inc., a division of Brunton Vineyards Holdings, Inc. (Pink Sheets:BVYH) announced today it has signed a letter of intent to acquire a 160 acre Mendocino-based vineyard and winery, Jeriko Vineyards. Terms of the deal, which is expected to close in the second quarter, are at an agreed, $16.5 million all cash transaction. The acquisition represents one in a line of several vineyard and winery properties targeted for acquisition by Brunton Vineyards as the Jeriko Estate will eventually become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the company. According to Geno Brunton, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Brunton Vineyards, "acquiring this vineyard and winery is part of our overall strategy of quality wines and having a wine product from organically grown grapes has long been part of our product mix target." "Jeriko Vineyards is well known for its organic wines and this acquisition allows us to compete more effectively as a well rounded producer of different types of wine," said Brian McGonigle, President of Brunton Vineyards. The company plans to increase production capacity from its current 25,000 cases a year to over 100,000 cases from the Jeriko winery. About Brunton Vineyards. Brunton Vineyards is a owned subsidiary of Brunton Vineyards Holdings, Inc, a public company based in San Francisco, CA. The company currently has several wholly owned subsidiaries: Brunton Vineyards [with current brands - "Brunton" and "Addison Cole"], VinoVenue, LLC and Swig, Inc. Management plans to add shareholder value by increasing distribution of its wines within the US market, increasing margins on wine sales and acquiring top tier, high quality producing vineyards and wineries The following is a non-exhaustive list of vineyards and wineries from around the world.
See: New York Stock Exchange :STZ), Scheid Vineyards (pinksheets:SVIN.PK) and 360 Global Wine Company (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:TSIX TSIX Trusted Security Information Exchange TSIX Transcription silencing inactivation of X (chromosome/dosage compensation) .OB). Please visit www.bruntonvineyards.com for more information. About Jeriko Vineyards & Winery. THE JERIKO ESTATE and Winery is surrounded by 160 acres of vineyards, trees and foothills. With the Russian River flowing on the eastern side of the property, Pinot Noir, Chardonnay, Syrah, Merlot, Sauvignon Blanc, and Sangiovese grapes grow on the sprawling property. The estate uses biodynamic bi·o·dy·nam·ic adj. 1. Of or relating to the study of the effects of dynamic processes, such as motion or acceleration, on living organisms. 2. and organic farming practices to promote plant diversity in the crops and to encourage soil balance without the use of synthetic chemical fertilizers, pesticides and fungicides, follows the strictest guidelines and are certified organic by the USDA USDA, n.pr See United States Department of Agriculture. & CCOF CCOF California Certified Organic Farmers (California Certified Organic Farmers California Certified Organic Farmers, or CCOF is a membership organization formed in the early 1970s, to promote organic farming and small-scale agriculture. It began as a group of 54 farmers mutually certifying each other's adherence to published, publicly available ). Jeriko currently produces 10,000 cases annually of Pinot Noir, Pinot Noir Rose, Syrah, Merlot, Sangiovese, and a sparkling Brut. The Brut, released in the fall of 2004, is the nation's first and only sparkling wine made from certified organic grapes. Forward Looking Statements Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and the federal securities laws. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, which are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the company's inability to accurately forecast its operating results; the company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the company's business. For further information on factors which could impact the company and the statements contained herein, reference should be made to the company's filings with the Securities and Exchange Commission, including annual reports on Form 10-KSB, quarterly reports on Form 10-QSB and current reports on Form 8-K. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. |
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