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Gaucho Group Holdings, Inc.

09:25 AM EST - Gaucho Group Holdings, Inc. : Announced the formation of Gaucho Development SRL, an Argentine holdings company slated to develop the Company's recently acquired land holdings in the commercial and business districts of San Rafael, Mendoza and Córdoba. The Company estimates potential rental income of more than USD 260,000 annually, once development is complete. Gaucho Group Holdings, Inc. shares N.VINO are trading unchanged at $0.22.