HENDERSON, Nev.--(BUSINESS WIRE)--California Grapes International, Inc. (OTCPINK: CAGR) announces today that it has submitted the required Legal Opinion Letter for OTC PINK “Current Information Status”.
“CGI” has filed the necessary Legal Opinion Letters with the OTCMarkets to regain PINK “Current Information Status”. The "Current" category is based on the level of disclosure made publicly available through the OTC Disclosure & News Service. This designation completes the required next step for CAGR as we continue to progress in the direction of becoming a fully reporting company. The required disclosures have been posted on the OTC Markets website and are available at www.otcmarkets.com under the Company's ticker symbol, CAGR.
“CGI” currently has over 200 unique California Wine labels registered with China customs that are being imported for sale to restaurants, hotels, and distributors as well as our first retail outlet opening soon in Beijing. “CGI” has a focus on selling premium boutique CA brands in China through strategic marketing, promotions and educational based efforts. “CGI” is currently the largest owner of CA Wine label registrations with the Chinese Customs Authorities and will be targeting 1000 unique registered labels by the end of 2012.
“The California Wineries that we represent understand the value of building a business foundation in China. They appreciate that they will have an opportunity to grow their business over time with CGI while building true brand loyalty with the new consumers. This is a much preferred approach to today’s export revenues being primarily based on transaction sales with very little repeat business.” – Jeffrey Crittenden – CEO “CGI”
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.