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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wee Cig International Corporation (PK) | USOTC:WCIG | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0016 | 0.0016 | 0.0016 | 0.00 | 01:00:00 |
Due to recent scandals regarding wine bottled in China, the integrity of both domestic and imported wines being bottled in China has been questioned. Even the national brand Great Wall has been dragged into the controversy of fake wines being blended and bottled with little or no grape juice with known labels for an easy profit. In light of this, Legacy has decided to continue importing bottled wines from credible winemakers in the U.S., Italy and other wine countries rather than bottle the wine in China.
In addition, the Company has decided to concentrate on developing its business in China rather than pursue the U.S. market in franchising its Legacy Wine Merchants brand. Various factors continuing to drive the wine demand in China are rising income levels, stronger distribution networks, changing consumer lifestyles and good wines distributed as gifts.
The Company will be targeting the eastern and southern part of the China wine market in the future rather than just concentrating on the central and northern parts as it has to date. Also increasing sales through wholesale channels will be used more rather than just focusing on franchises only.
About Legacy Wine and Spirits International Ltd:
Legacy Wine and Spirits International Ltd. (Legacy) is a publicly listed fully reporting company trading in the United States (Pink Sheets:LWSP). The Company is in the business of importing bottled wines from around the world for the purpose of wholesale and retail distribution throughout China, in particular through the Company's corporately owned stylish outlet showroom and wine tasting facility.
Visit our site: www.legacywineandspirits.com
The Legacy Wine and Spirits International Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8328
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Legacy's filings with the Securities & Exchange Commission.
CONTACT: Jaclyn Cruz, President 1-888-488-6882
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