Gaucho Group Holdings (NASDAQ: VINO), a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate and leather goods and accessories, recently announced securement of a $5.6 million convertible note, with which it believes can lay the foundation for growth of its assets in lodging, hospitality, wine and spirits, retail, and e-commerce. “In the next 24 to 36 months, our extraordinary real estate project is expected to have a new destination spa, world class gym facilities, an 18-hole golf course expansion, and more vineyard casitas as well. Anticipated for Q4 2023, the restaurant renovation and final touches on the upgrade to the winery will allow them to now accommodate weddings and corporate events, and other large gatherings,” said Scott Mathis, CEO and chairman of Gaucho Holdings. “In addition, the San Rafael airport is being expanded and the runway improved for larger aircraft and more traffic. These can positively impact our ADRs and occupancy rates, as well as the value of our residential lots. Of our two hospitality properties, one of them currently generates positive cash flow through lease revenues and will be accretive to the company, and we expect the other to have substantial development opportunities. We believe both are in prime areas ripe for development, and we believe the valuation of the real estate is positioned to allow for substantial appreciation in the years ahead. Across all of our companies, we now have the means to up our game and get our story out to the world as we continue to grow.”

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About Gaucho Group Holdings Inc.

For more than ten years, Gaucho Group Holdings’ (gauchoholdings.com) mission has been to source and develop opportunities in Argentina’s undervalued luxury real estate and consumer marketplace. The company has positioned itself to take advantage of the continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com and algodonwines.com.ar), hospitality (algodonhotels.com) and luxury real estate (algodonwineestates.com) associated with its proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho – Buenos Aires(TM) (gaucho.com), these are the luxury brands in which Argentina finds its contemporary expression.

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