Greenfield Farms Food Provides Corporate Update on Subsidiary Carmela's Pizzeria Co's Implementation of Its National Franchis...
January 22 2014 - 10:00AM
Marketwired
Greenfield Farms Food Provides Corporate Update on Subsidiary
Carmela's Pizzeria Co's Implementation of Its National Franchising
Program and Current Operations
WEST PALM BEACH, FL--(Marketwired - Jan 22, 2014) - Greenfield
Farms Food, Inc. ("Greenfield" or the "Company") (OTCQB: GRAS)
provided today an update on its wholly-owned subsidiary, Carmela's
Pizzeria CO, Inc., and the Carmela's Pizzeria operations.
Progress on the
National Franchising Program
The Company said today that it has completed arrangements for
financing to fund the first phase in the development of its
national franchising program for the Carmela's Pizzeria
concept. This financing is scheduled to close on February 15,
2014, subject to the negotiation and completion of the definitive
loan documents; and is being provided by a Minneapolis-area private
equity fund with a philosophy more aligned with Company goals and
the preservation and enhancement of shareholder value. The
initial phase of the national franchising program is development of
the Franchise Disclosure Document ("FDD"). The FDD is the
legal document presented to prospective franchise buyers in the
presale process. Additionally, the Company is in the candidate
review and screening process for selection of a national
franchising director. The candidate review and screening process
has been narrowed down and the company expects to have an
announcement in the short term. In addition, the Company is
presently developing the franchising operating system, collateral
marketing materials and supporting legal documentation.
Current Company-owned
Operating Units
As previously reported, there are now four Carmela's Pizzeria
units in operation and all of these units exemplify the various
franchising concepts to be offered by the Company. In
addition, the Company has developed plans to add additional
Company-owned operating units during this year's term and into the
next. Plans are also underway to develop a prototype Carmela's
Pizzeria unit in the southern US, and newly-risen opportunities
have made us focus on the state of Florida. We look forward to
updating you as we are about to put our plans into
action.
Ron Heineman, Chairman and CEO of the Company and Carmela's
Pizzeria, said, "We are more than excited about our national
franchising program as this is the area where more rapid company
growth will be evidenced through the addition of nationwide
franchised units. Carmela's Pizzeria restaurants in every State of
the country. This is a vision we are committed to and have
every intention to implement."
About Carmela's
Pizzeria Carmela's presently has four Dayton, Ohio area
locations offering authentic New York style pizza. Carmela's
offers a full service menu for Dine In, Carry out and Delivery as
well as pizza buffets in select stores. Carmela's has been
noted in Dayton Daily News as one of "The Best Pizzerias" in
Dayton. Visit the Carmela's website at:
www.carmelasohio.com
About Greenfield Farms
Food, Inc. Greenfield is a publicly-traded nominally
capitalized company operating through its wholly-owned subsidiary
Carmela's Pizzeria CO, Inc. through the Carmela's Pizzeria Dayton
restaurant locations that include pizza buffets, alcohol service,
delivery and carry-out depending on the location; and has
previously been a limited producer and marketer of "grassfed" beef
that supplied a North Carolina based grocer.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that
are made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. While these statements
are made to convey to the public the company's progress, business
opportunities and growth prospects, they are based on management's
current beliefs and assumptions as to future events. However, since
the company's operations and business prospects are always subject
to risk and uncertainties, the forward-looking events and
circumstances discussed in this news release might not occur, and
actual results could differ materially from those described,
anticipated or implied. For a more complete discussion of such
risks and uncertainties, please refer to the company's filings with
the Securities and Exchange Commission.
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