09:25 AM EST - Gaucho Group Holdings, Inc. : Announced that its subsidiary Algodon Wine Estates has received approval from the Mendoza's Departamento General de Irrigación to drill its third water well to service the estate's 4,138 acre wine, wellness, culinary and sport resort and luxury residential development, in San Rafael, Mendoza, Argentina. This follows previously announced news of approval to create the estate's first and second water wells which have since been drilled. The Company believes this continued initiative can significantly enhance the property's valuation, as it further primes the real estate project for expansion. Algodon Wine Estates anticipates applying to the local municipality to drill for additional water wells with a goal of a total of 6 throughout the property. The successful completion of this initiative is intended to allow access to natural aquifers that can service the expansion of the estate's real estate project, vineyards and winery, and other amenities. Gaucho Group Holdings, Inc.
shares N.VINO are trading unchanged at $0.18.
