Tulloch Vineyards Partners with BC Wineries to Export Premium Wine to China and Applies for Listing on the Canadian Securities Exchange
Tulloch Resources Ltd. (the “Company” or “Tulloch”) announces that it has submitted its listing application to the Canadian Securities Exchange (“CSE”). In addition, Steve Paquin has been appointed as an Independent Director, bringing significant experience in corporate finance, regulatory reporting, and compliance. The Company plans to change its business from inactive status to sales and marketing of wines in China and other parts of Asia, which will be considered a fundamental change in accordance with the policies of the CSE and will require approval of the Company’s shareholders. The final list of the Company on the CSE will also be subject to exchange approval and meeting of all original listing requirements.
China’s wine market has matured over the past decade so there are sufficient ultimate consumers who could respond when BC VQA wine is available and positioned properly, at upscale restaurants and hotels. Targeted consumers are knowledgeable wine drinkers seeking to try something new, and those with a particular affinity to British Columbia. The business plan requires a close working relationship with wineries, distributors, and marketers, and being a public company provides transparency, liquidity, and the opportunity to participate financially. Tulloch’s formal launch will be at the FHC/ProWine event in Shanghai in November 2015.
BC’s wine sector has enjoyed tremendous success over the past 20 years, capturing global awards, generating billions in economic activity, and winning aficionados worldwide. While the nature of the BC industry, characterized by small scale production and high costs of labour/land serve as drawbacks in the value categories, the terroir and expertise of BC’s winemakers results in wines that are truly world-class. Several wineries have commenced export to China, but for most wineries the Chinese market is difficult to enter, and apart from ‘one-off’ sales to traders, requires more attention than they have the ability to provide. Tulloch director Michael Chen has twenty years of experience building premium wine brands in China, including from previously under-represented regions, and has nurtured distribution channels that reach into the hotels and restaurants frequented by the targeted ultimate consumers.
Neither the Canadian Securities Exchange nor its regulation service provider accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Statements included in this document that do not relate to present or historical conditions are “forward-looking statements”. Forward-looking statements are projections in respect of future events or the Company’s future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “intend”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, or “continue”, or the negative of these terms or other comparable terminology. Forward-looking statements in this Listing Statement include statements with respect to: the ability of the Company to acquire BC wine for export; whether any wine acquired will be embraced by the purchasing public; expected future growth of the export market; the success of the concurrent financing, and statements regarding estimated capital requirements and use of proceeds. These statements are only predictions and involve known and unknown risks and uncertainties, including the risks in the section entitled “Risk Factors”, and other factors which may cause the Company’s actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity or performance. Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of such factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement
posted...September 08, 2015