GRILLIT® Enters LOI to Acquire Third Restaurant Location Near
University of Miami Campus
MIAMI, July
17, 2013 /PRNewswire/ --
GRILLiT, Inc. (OTC: GRLT) (the "Company") today announced that
it has executed a letter of intent ("LOI") to acquire an existing
eatery to retrofit for its third restaurant location in
South Florida.
The restaurant is located in a well-trafficked area adjacent to
the University of Miami. Subject to
finalizing due diligence and definitive documents, the financial
terms of the pending deal are binding upon the parties, and the
Company expects the closing to occur no later than August 27, 2013. The Company has already paid the
initial deposit into escrow as required by the terms of the
LOI.
GRILLiT CEO, Raymond Dias,
stated, "We are extremely pleased to have the opportunity for this
store location. It is a perfect fit for us, both in terms of
the existing store being a relatively simple retrofit, as well as
being in an ideal area that gives us exposure to the large student
population."
About GRILLiT (OTC: GRLT)
GRILLiT operates healthy, fast-casual restaurants offering
American, Asian Fusion, and Latin American food styles. GRILLiT
specializes in great atmosphere, casual dining and freshly
prepared, delicious made-to-order lunch and dinner options. The
Company is focused on expansion throughout Florida and the southeastern United States and nationwide franchising
opportunities. For more information, please visit
http://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 ability to finalize the
closing of pending acquisition at all or by a specific date.
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:
Robert L. Tucker
Director of Corporate Development
rltucker@grillitinc.com
Tel: +1(305)514-0326
Facebook: https://www.facebook.com/FreshGRILLiT
Twitter: @freshgrillit
SOURCE GRILLiT, Inc.