California Grapes International Plans Reverse Stock Split and Reduction of Authorized Shares

DUBLIN, Calif--(BUSINESS WIRE)--

California Grapes International, Inc. GDHI announces the following intended Corporation Structure actions. Upon completion of the merger agreement with China Food Service, Corp., the Company plans to execute a reverse stock split of 1:10 for both the common and preferred shares. The Company will also reduce the number of authorized common shares from its current 5,000,000,000 to 2,500,000,000 and will announce a mandatory common share certificate exchange. All shareholders of record will need to exchange their current share certificates for post-split California Grapes International, Inc. shares upon announcement.

The Board of Directors believes that the reverse split, reduction of the authorized common shares and mandatory exchange is a step in the right direction in establishing a more positive structure as the Company starts preparations to become fully reporting with an “up listing” target of Q1 2012.

The Company will update its shareholders with the effective date of the reverse stock split, mandatory common stock certificate exchange and the reduction of the authorized common shares, when it becomes available.

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These forward-looking statements involve known and unknown risks, uncertainties and other facts that could cause the actual future results of the Company to be materially different from such forward-looking statements. These forward-looking statements are made only as of the date hereof, and we disclaim any obligation to update or revise the information contained in any such forward-looking statements, whether as a result of new information, future events or otherwise. information, future events or otherwise.