MIAMI, August 6, 2013 /PRNewswire/ --
GRILLiT, Inc. (OTC: GRLT) (the "Company") today announced that
it is postponing the record date for its previously announced
common stock dividend. Instead of July
15, 2013, the record date for the stock dividend will be
August 7, 2013.
All shareholders of the Company owning common shares on the
record date of August 7, 2013 shall
receive four (4) shares of the Company's. common stock for every
share held by such shareholder. For example, if a shareholder
owns 10,000 shares of the Company's common stock at the close of
business on August 7, 2013, that
shareholder shall receive 40,000 additional shares of the Company's
common stock, giving that shareholder a total of 50,000 shares.
The dividended common shares will be "restricted" as defined in
the Securities Act of 1933. Rule 144 allows for the public
resale of restricted securities only if certain holding period and
other conditions are satisfied. The start date for the
holding period for the dividended shares shall be the record date
of August 7, 2013.
Per FINRA requirements for market transparency, the Company is
required to provide notice to and receive acceptance from FINRA
prior to the actual distribution of the dividend. Pending any
unforeseen delays from FINRA, the Company plans to have the
aforementioned stock dividend paid and distributed within three to
four weeks. The payment of the dividend will not require an
increase in the total number of authorized shares of common stock
nor is there a need for an exchange of certificates. The
Company has complied with all FINRA requests for supporting
documentation.
About GRILLiT
GRILLiT (GRLT) is a growing Latin-Caribbean fusion restaurant
concept that marries fast casual to nutritious and healthy food.
The company opened its first location in Miami in 2011 and specializes in chef-inspired
custom crafted rice bowls, pasta and wraps as well as salads.
GRILLiT utilizes domestic growers and delivers healthy cuisine
using only fresh proteins, such as never-frozen chicken and Angus
beef. Restaurants offer an inviting and comfortable atmosphere with
an open kitchen and contemporary, industrial design. GRILLiT
currently has two locations and expects to have at least 21
corporate and 58 franchised locations open and operating within the
next five years. The company is targeting Florida, North
Carolina, New Jersey,
Pennsylvania, New Hampshire, Ohio, Kentucky, Tennessee and Georgia for new growth. For more information,
visit http://www.grillitinc.com.
Forward Looking Statements:
Statements in this press release that are not purely historical
facts, including statements regarding GRILLiT's beliefs,
expectations, intentions or strategies for the future, may be
"forward-looking statements" under the Private Securities
Litigation Reform Act of 1996. Such statements consist of any
statement other than a recitation of historical fact and can be
identified by the use of forward-looking terminology such as
"plan", "may", "expect", "anticipate", "intend", "estimate" or
"continue" or the negative thereof or other variations thereof or
comparable terminology. The reader is cautioned that all
forward-looking statements are speculative, and there are certain
risks and uncertainties that could cause actual events or results
to differ from those referred to in such forward-looking
statements. This disclosure highlights some of the important risks
regarding our business. Additionally, there are number of other
risk factors relating to our business more fully explained
identified by us in our filings with the OTC Markets, which are
available through http://www.otcmarkets.com.
CONTACT:
Robert L. Tucker
Director of Corporate Development
rltucker@grillitinc.com
Tel: +1(305)514-0326
Facebook: https://www.facebook.com/FreshGRILLiT
Twitter: @freshgrillit
SOURCE GRILLiT, Inc.