Kisses from Italy Inc. Announces Full Re-Opening of All Corporate-Owned Locations
July 23 2020 - 9:00AM
InvestorsHub NewsWire
Kisses from Italy Inc. Announces Full Re-Opening of All
Corporate-
Owned Locations
Grand Opening of First Franchise Location in
California expected
by September of 2020
MIAMI, FL -- July 23, 2020 -- InvestorsHub NewsWire
-- Kisses from
Italy Inc. (OTCQB:
KITL), a U.S. based restaurant chain operator, franchisor, and
product distributor (the "Company"), today announced that all
corporate-owned locations have reopened. Also expected is
imminent opening of the Company's first California franchise
location in Chino, California.
All of the
Company's four corporate-owned restaurants which are located in
Fort Lauderdale, Florida, Bari, Italy, and within the Wyndham Palm
Aire and the Wyndham Sea Gardens Hotels and Resorts in Pompano
Beach, Florida, have all fully re-opened.
The
Company's hotel locations were closed longer than other sites due
to CDC recommendations.
The
Company's flagship Fort Lauderdale restaurant re-opened on May 1,
2020, its Bari, Italy location re-opened on June 20,
2020,
The Wyndham
Palm Aire location re-opened on July 11, 2020 and
the Wyndham Sea Gardens location re-opened on July 22,
2020.
"We want to
thank everyone in the Kisses from Italy family for their support
and continued hard work in these challenging times, to help keep
our plans moving forward" stated Michele Di Turi,
Kisses from Italy's co-founder, President, and co-CEO. Mr.
Di Turi
further
stated, "We believe that due to our low overhead structure,
our balance
sheet, and our recent multi-unit franchise sale in Canada, we have
been able to maintain our liquidity in challenging times for the
restaurant industry."
The Company
continued its territorial franchise location expansion plans with
the recent signing of a Multi-Unit Development agreement for 100
locations throughout Canada. The Canadian Multi-Unit deal included
an upfront franchise fee of $300,000.
Kisses
from Italy is planning on commencing its operations in the first
California franchise location in Chino, California by September
2020, absent any new governmental restrictions on restaurant
openings.
About Kisses from Italy Inc.
Kisses from
Italy Inc. is a U.S. based restaurant chain operator, franchisor
and product distributor with locations in North America and Europe.
The Company offers a quick service menu and a unique take on
traditional Italian delicacies with an All-American flair. Kisses
from Italy offerings include sandwiches, salads, Italian roasted
coffee, coffee related beverage and an array of other products. The
Company currently operates four corporate-owned stores. It
successfully commenced operations in May 2015 with the opening of
its flagship location in Ft. Lauderdale at 3146 NE 9th St. This was
followed by three additional sites across the greater Ft.
Lauderdale/Pompano Beach area. The Company recently opened its
inaugural European location in Ceglie
del Campo,
Bari, Italy in October of 2019. In September of 2019, Kisses from
Italy Inc. was given
the approval by FINRA to trade its common stock and was approved
for up-listing by the OTC Markets Group to the OTCQB in mid-October
2019 under the ticker symbol
KITL.
Forward-Looking
Statements
This
press release may contain forward-looking statements, which are
based on current expectations, forecasts, and assumptions that
involve risks and uncertainties that could cause actual outcomes
and results to differ materially from those anticipated or
expected, including statements related to the amount and timing of
expected revenues and any payment of dividends on our common and
preferred stock, statements related to our financial performance,
expected income, distributions, and future growth for upcoming
quarterly and annual periods. These risks and uncertainties are
further defined in filings and reports by the Company with the U.S.
Securities and Exchange Commission (SEC). Actual results and the
timing of certain events could differ materially from those
projected in or contemplated by the forward-looking statements due
to a number of factors detailed from time to time in our filings
with the SEC. Among other matters, the Company may not be able to
sustain growth or achieve profitability based upon many factors
including, but not limited to, general stock market conditions.
Reference is hereby made to cautionary statements set forth in the
Company's most recent SEC filings. We have incurred and will
continue to incur significant expenses in our expansion of our
existing and new service lines, noting there is no assurance that
we will generate enough revenues to offset those costs in both
the near and
long term. Additional service offerings may expose us to additional
legal and regulatory costs and unknown exposure(s) based upon the
various geopolitical locations where we will be providing services,
the impact of which cannot be predicted at this time. Additionally,
the ultimate impact of the Covid-19 pandemic on our company's
operations continues to evolve, is highly uncertain and subject to
change.
For more
information, please visit www.kissesfromitaly.com
Contact
Information:
Kisses from Italy
Inc.
305-423-7129
info@kissesfromitaly.com
SOURCE: Kisses from Italy
Inc.
Kisses from Italy (QB) (USOTC:KITL)
Historical Stock Chart
From Apr 2024 to May 2024
Kisses from Italy (QB) (USOTC:KITL)
Historical Stock Chart
From May 2023 to May 2024