Exhibit 99.1
Muscle Maker, Inc. Reports Top Line Revenue Over
$58.9 Million for April 2023
Fort Worth, Texas, June 1, 2023 (ACCESSWIRE) —
Muscle Maker, Inc. (Nasdaq: GRIL), (the “Company”), today announced that it has achieved top line revenue of over $58.9 million
for the month of April 2023. This revenue announcement marks the achievement of six consecutive months above $50 million revenue for the
company and demonstrates continued success of Sadot LLC, its wholly owned subsidiary, with a total revenue since inception in November
2022 of over $418 million.
“April’s results reflect our continued
growth in the global supply chain of Agri-commodities,” stated Michael Roper, CEO. “Sadot’s continues to generate significant
top line contribution and increasing exposure to the global markets and players within. In addition to our trading activities, we recently
announced the acquisition of the 5,000-acre (approx.) grain and fruit farm in Zambia, which we believe represents the next step of building
the foundations for growth and diversification into additional verticals in the supply-chain. The farm, located in the Mkushi region of
Zambia, is expected to generate revenues by the end of harvest season in 2023.
As stated in prior updates, we are committed to continue
keeping investors informed of our ongoing company evolution, since the announcement of the creation of our Sadot, LLC division. We have
been attending several investor conferences and looking to more directly engage with our current and potential new shareholders, retail
and institutional.”
The preliminary, unaudited financial results included
in this press release are based on information available as of April 30, 2023, and management’s initial review of operations and
financial results as of such date. They remain subject to change based on the completion of the Company’s customary quarterly financial
closing and review procedures and are forward-looking statements. The Company assumes no obligation to update these statements, except
as may be required by law. The actual results may be materially different and are affected by the risk factors and uncertainties identified
in this press release and in the Company’s annual and quarterly filings with the Securities and Exchange Commission. Further, the
Company’s independent auditor has not reviewed or performed any procedures on the preliminary, unaudited financial results.
About Muscle Maker, Inc.
In late 2022, Muscle Maker began its evolution from
a consumer-focused, U.S. restaurant business into a global, food-focused organization with two distinct business units:
Sadot LLC
Muscle Maker’s largest operating unit is its
newly-created subsidiary, Sadot LLC. Sadot is an international agri-foods company engaged in trading and shipping food (and feed) commodities
such as soybean meal, wheat and corn. Sadot was formed in partnership with Aggia LLC FZ, a Dubai based, international consulting firm
that provides services to companies operating in the global food supply chain.
MMI Restaurant Group
Muscle Maker’s legacy business is our limited
collection of 50+ restaurants, including Pokémoto Hawaiian Poké & Boba Tea and Muscle Maker Grill, and our subscription,
fresh-prep meal service, Superfit Foods, with 30+ points of distribution plus in-home and national delivery. All three concepts compete
in the growing healthier-for-you segment. National franchise development of the Pokémoto concept is the key growth driver with
more than –50+ franchise units already in the pipeline.
Forward-Looking Statements
This press release may include “forward-looking
statements” pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. To
the extent that the information presented in this press release discusses financial projections, information, or expectations about our
business plans, results of operations, products, or markets, or otherwise makes statements about future events, such statements are forward-looking.
Such forward-looking statements can be identified by the use of words such as “should”, “may,” “intends,”
“anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,”
“plans,” and “proposes.” Although we believe that the expectations reflected in these forward-looking statements
are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially
from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures,
including the statements made under the heading “Risk Factors” and elsewhere in documents that we file from time to time with
the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc., does
not undertake any duty to update any forward-looking statements except as may be required by law.
Investor Relations:
Frank Pogubila
SVP
Integrous Communications
W - 951.946.5288
E - IR@musclemakergrill.com