MIAMI, April 1, 2014 /PRNewswire/ -- GRILLiT, Inc. (the
"Company" or "GRILLiT") (OTC: GRLT) today announced that it has
completed two agreements effective as of March 28, 2014 for the sale of GRILLiT master
franchise rights in the States of Texas and Arizona. The rights were
obtained for a total cash consideration of $200,000, which the Company will book to its
revenue in the first quarter of this year, plus an ongoing 4%
royalty commitment on all gross revenues, and a $12,500 up front fee for each franchised location
established in these territories.
The master franchisee is operated by Texas Expansion Wing Group,
LLC, an experienced restaurant area developer and franchise sales
organization. The principals of Texas Expansion Wing Group
have over 26 years experience in the retail and food industry, both
as operators and owners. Their experience ranges from the
sale of over 100 franchises for QSR, the opening of over 90
restaurants in Austin,
San Antonio, Corpus Christi, Laredo, Brownsville, Harlingen, and McAllen, Texas, and owning and operating YUM
brands in Mexico. Their most recent projects include acting
as area developers for Hurricane Grill and Wings, one of the
fastest growing casual dining concepts in the country, and Dazbog
Coffee, which franchises the operation of specialty coffee
stores.
"This is a big leap forward for the company for several
reasons," said the Company's Chief Executive, Ghazi Hajj.
"First, this represents the Company's first initiative in the
southwestern United States -
Texas and Arizona are the most logical states to
commence franchise operations in this region. Second, we are
very fortunate to have a master franchisee the caliber of The Texas
Expansion Wing Group. We believe they are the perfect
operator to carry out this program, mainly because they have a
proven track record of establishing and supporting restaurant
franchise owner/operators. I have seen their work firsthand
through prior projects on which I have worked with them. They have
a very strong network of potential franchise buyers all over of the
Southwest. They are a small group of successful businessmen
who are as excited as we are to take the GRILLiT concept to the
next level."
"We are in discussions with Texas Expansion Wing Group to
establish agreements in other States," Mr. Hajj concluded.
As announced on March 18, 2014,
the Company changed its name from Grillit, Inc. to Healthy &
Tasty Brands Corporation, and is in the process of effectuating the
name change with FINRA.
About GRILLiT (now known as Healthy & Tasty Brands
Corporation)
GRILLiT (GRLT), now known as Healthy & Tasty Brands
Corporation, is a company that holds interests in restaurants and
food-related entities that are focused on healthy, natural, and
nutritional foods.
It's 100% owned subsidiary, GRILLiT, 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 Organic beef. Restaurants offer an
inviting and comfortable atmosphere with an open kitchen and
contemporary, industrial design. For more information, visit
http://www.handtbrands.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. Specifically, the reader should not place
undue reliance on statements regarding our master franchisees
ability to increase franchise sales in their targeted franchise
markets. 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:
Princeton Research Group
Tel: +1(781) 826-8882
SOURCE GRILLiT, Inc.