AgriEuro Corp. (OTC Pink: EURI) offers a variety of services and options for the agricultural, aquacultural, and tourism industries in Europe. The company currently has a 4,200-acre location at the junction of the Danube delta and the Black Sea. Shares of the multi-sector business are rocketing higher by 315.37%, during afternoon trading on Tuesday, February 21, 2017. Over the past month, AgriEuro Corp. has seen average daily volume of 76,378 shares. However, volume of 12.65 million shares or dollar volume of $1.39 million, has already exchanged hands through trading today.
Shares of AgriEuro Corp. are sky-rocketing today, after the company released a corporate update on Tuesday, February 21, 2017. In the update, management says that its recent reed harvest has sold out at an average price of 1.55 Euros. Furthermore, demand is so strong that the company does not have enough supply and is looking into additional options to help meet the high demand. Meanwhile, AgriEuro Corp. says they will be investing in new equipment and projects that are projected to yield 1 million bundles annually of reeds. Here is the full press release detailing of the corporate update:
AgriEuro Corp. Press Release:
BUCHAREST, Romania, Feb. 21, 2017 /PRNewswire/ — AgriEuro Corp. (OTCPK: EURI) today released an update regarding its operations, sales and revenues forecast.
AgriEuro is pleased to announce that it has sold out its most recent reed harvest at an average price of 1.55 euro per bundle after overwhelming international demand.
At this time, the demand for AgriEuro’s reed still outweighs the current supply and the company is working on several solutions to bring more reed into the market.
“We are actually expecting to harvest a record amount of reed this year, far exceeding our 2016 harvest. In spite of that, we believe that the harvest will be sold out well before it’s ready to deliver. ” said Mr. Monda, CEO of AgriEuro Corp.
The company plans to continue investing in new equipment and projects an increase of yields to 1 million bundles annually within the next 24 months.
“I believe we have barely scratched the surface in terms of what is possible with this property and are committed to taking all the steps necessary to bring it to its full potential as soon as possible.”
About AgriEuro Corp. (OTC Pink: EURI)
AgriEuro Corp operates in the agricultural, aquaculture and tourism industry in Europe. The company’s flagship property is located at the junction of the Danube delta and the Black Sea and encompasses a variety of currently revenue-producing and soon-to-be producing businesses. It spans over 4,200 acres on a Unesco World Heritage site. Investors can visit the company’s website at www.AgriEuroCorp.com
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by AgriEuro Corp may not proceed as contemplated, and by all other matters and assumptions specified in AgriEuro’s filings with the Securities and Exchange Commission, especially those risks and other matters described under “Risk Factors” within AgriEuro’s Form 10-Q filed with the Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. AgriEuro does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.