Minimum of 8 Little Big Burger Restaurants; Franchisee Is Large Investor In Chanticleer
CHARLOTTE, NC–HOTR, (Marketwired – May 08, 2017) – Chanticleer Holdings, Inc. (NASDAQ: HOTR) (“Chanticleer” or the “Company”), owner and operator of multiple restaurant brands internationally and domestically, today announced that it has signed a multi-unit franchise deal with LBBIG LLC, an experienced restaurant owner and operator of more than ten restaurants in the San Diego and Los Angeles markets, to open a minimum of eight Little Big Burger (“LBB”) locations in Southern California by 2021.
The restaurants will be managed by LBBIG’s seasoned management team. The founder of LBBIG is also a large investor in Chanticleer having recently been a lead investor in the company’s debenture private placement.
Mike Pruitt, Chairman and Chief Executive Officer of Chanticleer Holdings, commented, “We are excited to expand Little Big Burger’s presence on the West Coast with a partner who is not only an experienced restaurant owner, but also a large investor in Chanticleer. We look forward to cultivating our partnership as we introduce our iconic brand to local communities in Southern California.”
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings (HOTR), owns, operates and franchises fast casual and full service restaurant brands, including American Burger Company, BGR — Burgers Grilled Right, Little Big Burger, Just Fresh and Hooters.
Any statements that are not historical facts contained in this release are “forward-looking statements” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.