CRIMSON WINE GROUP, LTD. (OTCMKTS:CWGL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Francesca Schuler resigned from the Board of Directors (the “Board”) of Crimson Wine Group, Ltd. (the “Company”) effective August 20, 2018. Ms. Schuler’s resignation was not due to, and was not caused by, in whole or in part, any disagreement with the Company, whether related to the Company’s operations, policies, practices or otherwise. Ms. Schuler’s seat will remain vacant until a successor is elected.
About CRIMSON WINE GROUP, LTD. (OTCMKTS:CWGL)
Crimson Wine Group, Ltd. (Crimson) is engaged in producing and selling ultra-premium and luxury wines. The Company operates through two segments: Wholesale Sales and Direct to Consumer Sales. The Wholesale Sales segment includes all sales through a third party where prices are given at a wholesale rate whereas Direct to Consumer Sales segment includes retail sales in the tasting room, remote sites and at on-site events, Wine Club sales, and other sales made directly to the consumer without the use of an intermediary. The Company, through its subsidiaries, owns over four wineries, including Pine Ridge Vineyards, Archery Summit, Chamisal Vineyards and Seghesio Family Vineyards. In addition, Crimson owns Double Canyon Vineyards, which owns land in the Horse Heaven Hills of Washington’s Columbia Valley. Pine Ridge Vineyards owns acreage in approximately five Napa Valley appellations, including Stags Leap District, Rutherford, Oakville, Carneros and Howell Mountain.