Gaucho Group Holdings Inc (VINO)

[Jose Chavez]

As previously announced, last year the Company purchased land holdings in Argentina in an all-stock transaction valued at approximately $2.4 million. One of the property lots is located in the San Rafael, Mendoza region of Argentina, and the other is located in the country's second largest city of Córdoba, with the estimated fair market value of the combined properties totaling approximately $2.4 million. Both properties are also located on major thoroughfares, seeing significant foot and street traffic, and both with ample parking, a feature considered a rare benefit in Argentine cities.