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Saturday, December 3, 2022

What Happened to Agrieuro Corp (OTCBB:EURI)

Agrieuro Corp (OTCBB:EURI) recently made a spectacular move up from lows of $0.0375 in August to recent highs of $2.09 after Elite Penny Stock Group of AREN fame announced it as their new pick.

Elite Penny Stock Group which operates the domains Finestpennystocks.com, Smartstockchoices.com, Bestamericanstocks.com and Elitepennystock.com, and mysoaringpennystocks.com, smartstockwinners.com and several gained fame with such picks as AREN which ran to $1.30 highs.

Agrieuro Corp (OTCBB:EURI) 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.

According to their filings the Company plans to further develop the 1,709 hectares of land it owns in the Periteasca – Leahova area, on the administrative territory of Murighiol locality, Tulcea County, between the Black Sea, Grindul Lupilor and Lagoon Complex Razim – Sinoe, Romania. Such land is the basis of SRL conducting reed farming, fish farming and constructing then operating a luxury resort property, including a planned complex with bungalows/cabins on the Danube Delta.

The property acquired by the predecessor of the Company included significant infrastructure upgrades made in the late 1970’s and 1980’s to facilitate the reed harvest and aquaculture businesses, however, those infrastructure upgrades have not been properly maintained in the past two decades. As part of the 10 year concession agreement entered into in October 2014 with the local government in the Periteasca – Leahova area, the Company may extend its concession agreement a further 5 years if it invests a minimum of approximately $542,000 at December 31, 2014 exchange rates into upgrading the current structures on the property on or before October 2017.    The Company has thus far spent approximately $200,000 on property upgrades, including unclogging channels, repairing pumping stations and repairs on the dam. The Company expects that the entire minimum amount of $542,000 will be met some time in 2016, well before the October 2017 deadline.

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On December 1 Smartstockwinners.com said ”’It’s no secret that EURI was very volatile yesterday but nerves of steel prevailed and the stock closed with a modest gain.

EURI was heavily attacked by short sellers over the last 2 trading sessions and they were counting on the stock to crash, but it did not. Instead it is thriving. With millions of new shares now short at around the $1 price, the stock is now primed for a new short squeeze.

The last squeeze took it from 35 cents to $1.50 (with some swings in-between) and this next squeeze could easily take it past 2 dollars in a single trading session, with much more potential on the horizon.”

Last month EURI announced it intends to build an all-inclusive resort with a capacity of 620 accommodations which will become the largest resort on the Black Sea.

The company plans to build recreational areas for activities such as hunting, fishing, bird watching and water sports among others. A 4-building complex will host 120 accommodations while a holiday lake house complex will host 500 accommodations.

The area is attractive because of the delta’s particularly exotic landscape, unique features, mild weather and Unesco World Heritage Site status. The resort will be accessible by land, air and sea. The presence of several unused buildings the company owns will make the overall project cost cheaper as these can be renovated to host some of the resort’s facilities.

Once completed, the company estimates that the 620 accommodations will average an occupancy rate of 70% during the high season (180 days) at an average of 100 to 200 euros per night. The resort will deliver high quality European service in a green environment.

On December 2 EURI announced it has engaged Tehnomontaj, one of the largest construction firms in Romania, to design its resort project.

As part of the engagement, Tehnomontaj will complete a geotechnological study and design 2D mapping for the location, which includes the preliminary layout of the holiday cabins on a 5 acre island on the existing property that will be completely equipped with AgriEuro Corp reed roofs and solar panels. These cabins are to be designed to be fully green and energy-efficient and to blend in with the surrounding nature.

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Currently trading at a $300 million market valuation EURI has minimal assets or revenues and rising short term debt. But EURI is an exciting story developing in small caps; the Company owns 4,200 acres of land on the black sea that they plan to develop and the stock is being promoted by Elite Penny Stock Group fresh of their success on AREN which they took over $1.30. EURI Stock being liquidated into campaign is likely the 84 million shares obtained by a group of Investors who bought 2.1 million EURI at $0.01 prior to the 40-for-1 forward split in September. We will be updating on EURI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with EURI.

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Disclosure: we hold no position in EURI either long or short and we have not been compensated for this article.

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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