Brian,
This just went up on the web site under "Stockholders Information", its a new Press Release...
Matthew
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Araldica Announces Operational Control Of Italian Winery
September 24, 1998...ARALDICA WINERIES, LTD. (OTC:BB - AWLT) announced today that it has completed the legal and financial arrangements required for it to assume operational control of its Italian winery and vineyard subsidiary, known as "Azienda Agricola Antogianni, S.r.l.", located in central Tuscany, the acquisition of which was originally contracted and announced in November of 1997.
Concurrently, Araldica announced that it will shortly be reinstating direct mail promotions for its proprietary custom-labeled wines, which promotions will now utilize, exclusively, the premium (DOC and DOCG) wines being produced by its Italian subsidiary.
Frank J. Landi, Sr., the President of Araldica, stated that "The unrestricted availability of our own Antogianni brand of wines now allows the company to generate substantial additional profits from its direct mail promotions than has been possible in the past, since the company will no longer have to make arrangements to acquire the wines of other Italian producers, which were substantially more expensive to import."
Landi continued: "Since we are also anticipating the issuance of certain required legal opinions of counsel, which will allow the expansion of our direct mail marketing efforts beyond the state of New York, we expect that our next 12 months' operating results will include significant new revenues that will be generated by the geographical expansion of its marketing area."
ARALDICA WINERIES, LTD. (which trades publicly under the symbol "AWLT", on the OTC-BB), recently commenced its 6th year of operation; its business activities will now encompass the manufacture, importation and distribution of premium Italian wines and olive oils, as well as the importation and sale of selected gourmet foods and specialty Italian foods. |
