Republic of Texas Brands Incorporated Announces Sale of First License Agreement and WallStreetCorner.com Independent Stock An...
November 26 2012 - 7:00AM
Marketwired
Jerry Grisaffi, Chief Executive Officer and Chairman of the Board
of Republic of Texas Brands Incorporated (PINKSHEETS: RTXB),
announced today that RTXB has entered into a 15 year license
agreement with Vince Ngwenya for an 1824 Texas Best Barbecue
Restaurant in Pecos, Texas and an additional restaurant in Dallas,
Texas, to be opened after the Pecos location.
"We are very excited to have signed our first license agreements
with Mr. Ngwenya for Pecos and Dallas. Pecos has strong potential
due to the fast casual dining demand created by the oil and gas
boom currently underway in West Texas. The demand far outweighs the
supply in that region. We are also excited to have our first
license agreement in the Dallas area, which is where Republic of
Texas Brands' corporate office is located," said Grisaffi.
Mr. Ngwenya indicated that the Pecos location should open around
the first of 2013, followed by a Dallas location during the second
quarter of 2013. "I am pleased to be on the ground floor of the
unique dining opportunity that will exist in the 1824 Texas Best
Barbecue restaurants. The smoked meats we will offer will be the
best tasting barbecue available," said Mr. Ngwenya.
On November 6, 2012, RTXB announced that it had entered into a
co-packing agreement with Bergheim Texas Barbecue to provide all of
the smoked meats for RTXB's 1824 Texas Best Barbecue Restaurants.
"By having all meats smoked at Bergheim Texas Barbecue, we can
provide a consistent flavor and quality unparalleled in fast casual
barbecue restaurants today, while keeping our labor costs down at
the same time," said Grisaffi.
Mr. Grisaffi also announced that WallStreetCorner.com has
completed a thorough in-depth Research Report on RTXB, which will
be available for review this week at www.wallstreetcorner.com.
This Press Release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934. A statement containing
works such as "anticipate," "seek," "intend," "believe," "plan,"
"estimate," "project," "plan," or similar phrases may be deemed
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Some or all of the events
or results anticipated by these forward-looking statements may not
occur. Factors that cause or contribute to such differences include
the future U.S. and global economies, the impact of competition,
and the Company's reliance on existing regulations.
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CONTACT: JERRY GRISAFFI Email Contact (214) 394-3865
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