ORLANDO, Fla., June 14, 2013 /PRNewswire/ -- Big Three
Restaurants, Inc., (OTCPink: BTHR) announced today it has signed an
agreement with VERA Group, LLC, which provides immediate equity or
bridge financing of $1.5 million and
debt, equity or a combination of both totaling an additional
$10 million but not less than
$5 million net for operating
capital.
VERA Group will have first right of refusal on all future
capital requirements, expansion and acquisition funding. The
agreement is for 12 months and is on a non-exclusive basis with
three additional six month increments.
John V. Whitman, Jr., the
Company's chief executive officer, said, "The Company is planning
to launch its own restaurant brand. Additional announcements
will be fourth coming in the days ahead that will provide detail as
to the new restaurant concept. The agreement with VERA Group, is
one of the final major steps in successfully implementing our
plan."
Wayne Colson, VERA Group founder
and CEO, said, "We are all about new and innovative concepts. We
seek out management with long term vision and the proven track
record to successfully implement its plan. We do not take our
commitments lightly and spent several months conducting research on
Big Three, its management team and its new restaurant brand. We
could not be more excited or engaged than we are with our new
relationship with Big Three and John
Whitman."
ABOUT THE COMPANY
The Company is a developmental stage enterprise planning
acquisitions of profitable restaurant operations in three
categories – respected franchise brands, upscale family dining and
theme style restaurants. In addition the Company will seek
businesses which have built a core business that can easily be
duplicated in emerging markets throughout the Southeast.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended (the Exchange Act), including all statements that
are not statements of historical fact, regarding the intent, belief
or current expectations of the Company and its management with
respect to, among other things: (i) the Company's financing plans;
(ii) trends affecting the Company's financial condition or results
of operations; (iii) the Company's growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words "may," "would," "will," "expect," "estimate," "anticipate,"
"believe," "intend" and similar expressions and variations thereof
are intended to identify forward-looking statements.
Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond the Company's
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors including the risk disclosed in the Company's
reports filed with the SEC. The Company claims the safe
harbor provided by Section 21E(c) of the Exchange Act for all
forward-looking statements
For more information contact –
John V. Whitman Jr., Chief Executive
Officer
Phone: 516-375-6649
E-mail: johnwhit9756@yahoo.com
http://www.big3restaurants.com/
http://www.otcmarkets.com/
http://www.sec.gov/
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SOURCE Big Three Restaurants, Inc.