October 23, 2014
To the shareholders of Smart Holdings, Inc.:
We are pleased to announce that major developments have taken place regarding the Turkish subsidiary Anatolian Walnut Production Company (AWPC) of Smart Holdings, Inc. (OTC Markets: symbol SMHS), including a first harvest of the existing walnut orchard and infrastructure preparation for the additional new land (501 acres) that was rented from the Turkish Government.
As you all know; In April, SMHS acquired 100% of Anatolian Walnut Production Company (AWPC), a Turkish company which has planted and is well growing 40,000 Chandler-type organic walnut trees and its pollenizers (believed to be the highest quality type of walnuts) which are between one to five years old on its existing 332 acres of walnut orchard in Manisa Province, in southern Turkey. To date, the principal shareholders have invested more than $9,000,000 USD in this project.
Finally, AWPC’s first harvest took place in October, 2014 as it was expected. The total amount of harvested walnut was around 5 Metric Tons. In the coming years, the amount of walnut to be harvested is expected to increase exponentially as the organic walnut trees grow.
The harvested walnuts were sold already at $ 4.65 USD per lb at the Turkish Wholesale Market. AWPC also owns 50,000 walnut seedlings, which is planned to be sold in January 2015.
The company intends to plant and cultivate up to an additional 65,000 organic walnut trees on (501 acres) new rented land from the Turkish Government. The new rented land is about six miles away from AWPC’s existing 332 acres of walnut orchard. The reforestation project of the new rented land was accepted by the Turkish Government and its infrastructure preparation continues.
Walnut prices have continued to climb in the Turkish Market for this year as it did worldwide. One of the important facts that affects the current walnut price is whether the walnut is being organic. Demand for walnuts in Turkey is high, because walnuts have always been a part of Turkish culture, as a tasteful snack, as an addition to desserts and other foods, and for their perceived health benefits. So management does not anticipate any significant problems in selling either the walnuts when they are harvested, or the seedlings.
Information about AWPC is available at their website www.anatolianwalnut.com ; SMHS’s website is www.smartholdingsinc.com.
Thank you very much for your attention,
With Our Best Regards,