MIAMI, August 26, 2013 /PRNewswire/ --
GRILLiT, Inc. (OTC: GRLT) ("GRILLiT" or the "Company") today
provided a corporate update to its recent activities.
On August 22, 2013 a franchisee
signed a proposal for a lease to open a new GRILLiT location within
the first floor retail space of National City Tower Annex, 101 S.
5th Street, Louisville, Kentucky
40202 (GPS coordinates 38.2563245, -85.7580677). This will be
GRILLiT's third franchise location. The Company expects the lease
for this Louisville location to be
executed within 30 days and is projected to open for business by
the end of this year.
The Company has completed its due diligence for the acquisition
of its third corporate-owned location near the University of Miami and expects to close the
transaction by the end of this week. This store is located at
1232 S Dixie Hwy, Miami, FL 33146
(GPS coordinates 25.7145933, -80.2766746).
Per the Company's announcement on August
20, the Company's first franchised location located at 555
Church St, in downtown Nashville,
Tennessee 37219 (GPS coordinates 36.1623047, -86.7807773)
opened on August 19, 2013, and has
served over 100 customers per day since opening.
GRILLiT's second franchised location at 2108 N. Mulberry Street,
Elizabethtown, Kentucky 42701 (GPS
coordinates 37.7163949, -85.8235413) is on track to open by the end
of September 2013.
The Company is in the process of interviewing and retaining a
qualified audit firm. It expects that the engagement will be
complete within two weeks and that it will begin work immediately
thereafter. The Company intends to disclose audited financial
statements by the end of this year, and upon completion, plans to
begin the application process to obtain a listing on a higher tier
exchange.
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. GRILLiT
currently has two locations and expects to have at least 21
corporate and 58 franchised locations open and operating within the
next five years. The company is targeting Florida, North
Carolina, New Jersey,
Pennsylvania, New Hampshire, Ohio, Kentucky, Tennessee and Georgia for new growth. For more information,
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 build a chain
of health-conscious fast-casual restaurants. 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.
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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.