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February 11, 2015

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 Sale of Seedlings and Last Status on Geothermal Hot Water Search, Developments in the Property and Receiving a Bank Loan.

Sale of Seedlings:

AWPC sold 50,000 certified walnut seedlings and produced 60,000 certified walnut seedlings. These current 60,000 certified walnut seedlings can be planted or sold.

Geothermal Hot Water Search Warrant:

Geothermal hot water search warrant was acquired by AWPC in 2013. In the scope of its search warrant, geothermal hot water was detected in the existing walnut orchard of the company. The locations of geothermal wells were pinpointed and exploration work still continues. When it is drilled, based on the temperature and the size of the geothermal hot water, greenhouse or renewable energy investment will take a place.

Developments in the Property:

In the walnut orchard, two additional artesian wells were drilled in addition to the existing five artesian wells with a depth of around 500 feet, and one additional water tank with a volume of 42,378 ft3 was also built in addition to the existing two water tanks with a total volume of 22,072 ft3.

The infrastructure preparation of the new land that was rented from the Turkish Government, still continues. 

Bank Loan:

The company (AWPC) received a total of $ 680,135 USD bank loan from the Turkish Bank in 2014 according to the exchange rate of December 2014.  $185,432 USD loan out of the total loan is a 5 years term loan with no interest payment, the rest of the loan {$ 494,703 USD} is a 7 years long-term agricultural loan with a 2-year grace period and half of the interest payments are subsidized by the Turkish Government. 


02.11.2015
 

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Smart Holdings Inc
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