Legacy Reports Developments
November 15 2010 - 9:00AM
Legacy Wine and Spirits International Ltd. (Pink Sheets:LWSP)
reports that its wine and spirits import, wholesale and retail
business is ongoing and will still be one of the going concerns of
the Company.
China currently enjoys the highest wine consumption growth rate
in the world, while traditional wine markets have been stagnant.
According to international wine experts, starting from 2010,
mainland China and Hong Kong will be entering the era of the
"golden decade" for its wine market. China will rank first in the
world for its wine consumption by 2020. The current situation in
China is that domestic wine production doesn't meet its market's
need, which has resulted in a surge growth of imported wine.
Statistics show that imported bottled wine to China has increased
2368% since 2002 to 2009.
Management of Legacy has decided to broaden and diversify its
business interests to include industries that are not related to
the core business of the Company. Developments in these different
sectors will be reported as they happen.
Jaclyn Cruz, a current Director of Legacy, will be assuming the
position of President of the Company in order for her to take a
more visible and active role in the diversification of the Company.
Former President, Christopher Scheive, remains a Director of the
Company.
ABOUT LEGACY WINE AND SPIRITS INTERNATIONAL LTD.
Legacy Wine and Spirits International Ltd. 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 facilities.
/s/ Jaclyn Cruz |
Jaclyn Cruz, President |
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: Legacy Wine and Spirits International Ltd.
1-888-488-6882
info@legacywineandspirits.com
www.legacywineandspirits.com
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