EEDG's Gourmet Wing Company Inc. Signs Letter of Intent With Red Restaurant Ventures' Big Chow Grill
April 24 2013 - 11:09AM
Marketwired
Energy Edge Technologies Corporation (OTCQB: EEDG) subsidiary The
Gourmet Wing Company Inc. announced today that its management
division, Gourmet Wings Management Co. (GWMC), has signed a Letter
of Intent with Red Restaurant Ventures (RRV) to exclusively manage
RRV's Big Chow Grill, an existing profitable restaurant located in
Atlanta, Georgia, with annual revenues in excess of $2.4 million.
The Letter also calls for the development of a Master Franchising
Agreement that gives GWMC the exclusive right to franchise the
concept through Area Developers and individual entrepreneurs who
want to bring the Big Chow Grill concept to diners across the
United States and internationally.
James Boyd, President and CEO of EEDG said, "This agreement
gives us our first franchisable platform. Management expects this
agreement to provide enhanced and scalable revenues to EEDG through
our wholly owned subsidiary, GWMC, as a result of collected
franchise fees and weekly royalties. It has always been EEDG's
intention to manage and develop a broad portfolio of restaurant
concepts that will benefit and enhance the value of our
company."
The Master Franchising Agreement, which is pending while the
required franchise disclosure documents and state registrations are
acquired, also requires GWMC to provide an array of management and
support services, both to existing and future Big Chow Grill
company and franchise locations.
By delivering big American-Asian flavors with healthy
ingredients, Big Chow Grill is the next step in the evolution of
American stir-fry. The grill's main attraction is its market-fresh,
create-your-own Stir-Fry Bar loaded with more than 70 ingredients
including seasonal vegetables, beef, poultry, pork, seafood options
and various local ingredients.
The grill only uses heart-smart canola oil and it uses no MSG.
Customers can choose any combination of the 17 signature sauces,
some of which are sugar-free, gluten-free and meet vegetarian
dietary restrictions, to top off the hand-picked ingredients.
Appetizers include healthy options in addition to signature
Asian favorites such as egg rolls and chicken coconut soup. The bar
features Big Cocktails, Asian-inspired Martinis, Skinny Sips, made
with less sugar, and frozen cocktail classics served in 16-ounce
hurricane glasses.
"Our dining room is busy, and we've received good reviews, which
have been posted online," said Boyd. "So stop by and see us."
This release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
Private Securities Litigation Reform Act of 1995. Prospective
investors are cautioned that forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, and actual results may differ materially from those
contemplated by such forward-looking statements. Important factors
known to management that could cause actual results to differ
materially from those in forward-looking statements include
fluctuation of operating results, ability to compete successfully,
and ability to complete before-mentioned transactions. The Company
undertakes no obligation to update or revise forward-looking
statements to reflect changed assumptions, the occurrence of
unanticipated events, or changes to future operating results.
CONTACT Jay Hines Email Contact