Brunton Vineyards (Pink Sheets:BVYH), a San Francisco / Napa-based wine company today announced recent developments in its business. The Company’s management team has been working with CB Richard Ellis (NYSE:CBG) for the past two months on site acquisition and lease negotiations on several potential sites for the Company’s San Francisco based wine lounge, VinoVenue. The Company had previously engaged CB Richard Ellis to help manage the global expansion of the VinoVenue locations.
Currently CBRE has tendered five Letters of Intent on behalf of Brunton Vineyards to landlords of several locations in Hermosa Beach, Manhattan Beach, Pasadena, Beverly Hills and Irvine. The Company is awaiting responses from the property managers. BVYH has also selected an architectural design firm in San Francisco to remodel the existing San Francisco store and design other planned locations in the US. The Company expects to officially identify the firm selected and make a formal announcement within the next month.
The Company has also completed financial statements on its existing operations and is in the process of having those financial statements audited. Management currently anticipates that the consolidated audited statements, which will cover a six year period, will be completed within the next thirty days. Management hopes the Company will be approved for trading on OTC Bulletin Board in the first quarter of 2008.
"Due to funding delays attributed largely to the very tedious process of international financing, Brunton Vineyards has endured several setbacks over the last few months in the way of its market performance. With funding agreements already in place Brunton Vineyards intends to finance substantial vineyard acquisitions and expand VinoVenue operations and locations. Our management team, shareholders and our investment bankers have all been very patient through the process and we applaud and thank them for their continued support and belief in our company and business model," said Geno Brunton, CEO of Brunton Vineyards.
About Brunton Vineyards
Brunton Vineyards is a wholly owned subsidiary of Brunton Vineyards Holdings, Inc, a public company based in San Francisco, CA. The company currently has several subsidiaries: Brunton Vineyards [with current brands – “Brunton Vineyards” 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 and some that are considered undervalued. Competitors to Brunton Vineyards are Constellation Brands (NYSE:STZ), Scheid Vineyards (Pink Sheets:SVIN.PK). Please visit www.bruntonvineyards.com for more information.
“The Place to Taste and Experience Wine” is what the San Francisco based wine lounge is known for. Founded in 2004, VinoVenue has more than 100 wines from California and around the world featured. VinoVenue stretches the traditional wine bar and retail store boundaries by offering guests an exciting new concept for tasting and buying wines. For the first time, guests can serve themselves by purchasing a VinoVenue tasting card (like a debit card), inserting it into the automated wine tasting stations, selecting a wine and receiving a 1 oz. pour. Individually priced pours of more than 100 wines sourced from wineries around the globe range from $1 to $40. This "try-before-you buy" model has promoted wine education, socialization and curiosity. The wine lounge is located at 686 Mission Street, San Francisco, CA 94105. Please visit www.vinovenue.net for more information.
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, Brunton Vineyards' expectations of business and financial results in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including risks related to: possible delays in the closing of the transaction contemplated by the acquisition agreement, which may be caused by factors outside of the control of Brunton Vineyards; the ability of Brunton Vineyards to successfully expand VinoVenue and launch new locations within the US market or elsewhere in a timely manner. 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. Forward-looking statements 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.
Investor Relations, 949-225-4785
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