MIAMI, April 8, 2014 /PRNewswire/ -- GRILLiT, Inc.
(the "Company" or "GRILLiT") (OTC: GRLT) today announced that it
has completed an agreement effective as of April 1, 2014 for the sale of GRILLiT master
franchise rights in the State of
Nevada. The rights were obtained for a total cash
consideration of $75,000, which the
Company will book to its revenue in the second 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.
As with the States of Texas and
Arizona announced on March 31, 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.
Texas Expansion Wing Group president, Bill Roberts, said, "We were looking for a fast
casual, hot new concept that caters to the trendy, health conscious
consumer looking for great tasting food, but more importantly we
wanted to team up with a talented organization with a sound
structure. We found that in GRILLiT."
The Company's CEO, Ghazi Hajj, stated, "There is a growing
interest in healthy, fast-casual dining across the United States, and GRILLiT is excited
to bring our tasty, Latin-Caribbean flavor to
Nevada this year. We look forward to working with this
experienced master franchisee to support growth and opportunity as
we go forward."
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
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. For more
information, visit 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. Specifically, the reader should not place
undue reliance on statements regarding our retained consultants 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.