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News, Articles and Releases
Asconi Completes Planting of 925
Acres of Vineyards
WEDNESDAY, JULY 14, 9:30 AM ET
ORLANDO, Fla., July 14 /PRNewswire-FirstCall/ -- Asconi
Corporation (Amex: ACD), an Eastern European producer of wines and
spirits, today announced that it has completed planting of approximately
925 acres of vineyards in the central region of Moldova. The Company
planted primarily Cabernet-Sauvignon, Merlot and Chardonnay grapes,
having purchased the region- adapted rootstocks from Vivai Marchi
of Italy and Phillippe Dayde of France.
The vineyards are expected to produce the first harvest in the
fall of 2007 and reach full production capacity in 2009. Based on
Asconi's preliminary estimates, once the Company owns the source
of primary raw material, the average cost per bottle of wine will
decrease by 25 to 35 percent.
Asconi currently owns approximately 3,000 acres of premium land
in the central regions of Moldova. At present, Asconi continues
to acquire vineyard land, as the Company's long-term strategy is
a step-by-step planting of vineyards until the quantity of grapes
collected from the vineyards meet 100% of the annual grape needs
of the Company.
About Asconi Corporation
Asconi Corporation (Amex: ACD) is a producer and distributor of
wines and spirits in Eastern Europe. For more information, please
visit http://www.asconi.com.
Forward-Looking Statements
Certain statements contained herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
current expectations, estimates and projections about the Company's
industry, management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual
results and performance of the Company may differ materially from
the results expressed or implied by such forward-looking statements.
Given these uncertainties, readers are cautioned not to place undue
reliance on such forward-looking statements. Unless otherwise required
by law, the Company also disclaims any obligation to update its
view of any such risks or uncertainties or to announce publicly
the result of any revisions to the forward-looking statements made
here; however, readers should review carefully reports of documents
the Company files periodically with the SEC.
Contact: Mr. Serguei Melnik,
Asconi Corporation Chief Operations Officer
Phone: 407 679-9463
Email: info@asconi.com
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