Chanticleer Holdings-HOTR/Hooters(TM) International Franchise Operator Update
CHARLOTTE, NC -- (Marketwired) -- 09/04/13 -- Chanticleer Holdings,
Inc. (NASDAQ: HOTR) (Chanticleer Holdings, or the "Company"), a
minority holder in the privately held parent company of the Hooters
brand Hooters Of America, and a franchisee of international Hooters
restaurants, issued a corporate update for shareholders.
As previously announced, the Company has signed a Binding Letter of
Intent to acquire an existing location in Nottingham, England, which
is anticipated to close not later than October 31, 2013, and will
bring the number of restaurants the Company operates to seven. The
Company expects further expansion in the UK market and sees it as an
extraordinary opportunity for the Company and the Hooters brand. The
stated goal at the beginning of the year was to have ten Hooters
restaurants opened under the Chanticleer umbrella. The Company is
progressing with the additional Australian restaurant in Townsville,
recently announced the signing of a lease agreement for the Pretoria,
South Africa location, and is planning for a restaurant in Rio de
Janeiro which, if successful, would hit our stated goal.
The Company is also reviewing several partnership opportunities with
existing franchisees as the Hootersâ„¢ chain executes on its stated
goal of remodeling and refurbishing the chain's 460 plus restaurants,
while growing new stores both domestic and international.
Transactions of this nature would expedite our growth significantly.
The Company also previously announced a signed Non-Binding Letter of
Intent to acquire American Roadside Burgers, Inc. ("ARB"), a fast
casual burger chain with 5 existing restaurants, with an anticipated
closing of no later than September 30, 2013. ARB will bring to the
Company revenue, opportunity and diversification into the explosive
fast casual burger model. The Company plans to expand the chain
domestically and potentially into international markets.
Mike Pruitt, Chairman and Chief Executive Officer of the Company
stated: "I wanted to give a brief consolidated update on our company
and our team as we recently expanded with the addition of April
Miller as Director of Training. I have been extremely active the last
and feel a great deal of momentum building for our
company, with the recent LOI's and funding to execute on these
projects as well as progress on other ventures. I'm excited about our
future and look forward with great optimism. In addition to our
corporate initiatives I'm making a definitive effort to visit with
our shareholders and Wall Street professionals, to share our story
and vision of the future."
I am pleased to share that Alexander Capital L.P.,
www.alexandercapital.biz , has agreed to assist with shareholder
inquiries, please call 1 855 288 ALEX, feel free to contact them
regarding the recent activities of the company.
About Chanticleer Holdings, Inc.
Chanticleer Holdings (HOTR) is focused on expanding the HootersÂ®
casual dining restaurant brand in international emerging markets.
Chanticleer currently owns in whole or part of the exclusive
franchise rights to develop and operate Hooters restaurants in South
Africa, Hungary and parts of Brazil, and has joint ventured with the
current Hooters franchisee in Australia, while evaluating several
additional international opportunities. The Company currently owns
and operates in whole or part of six Hooters restaurants in its
international franchise territories: Durban, Johannesburg, Cape Town
and Emperor's Palace in South Africa; Campbelltown in Australia; and
Budapest in Hungary.
In 2011, Chanticleer and a group of noteworthy private equity
investors, which included H.I.G. Capital, KarpReilly, LLC and Kelly
Hall, president of Texas Wings Inc., the largest Hooters franchisee
in the United States, acquired Hooters of America, a privately held
company. Today, Hooters of America is an operator and the franchisor
of over 430 HootersÂ® restaurants in 28 countries. Chanticleer
maintains a minority ownership stake in Hooters of America and its
CEO, Mike Pruitt, is also a member of Hooters' Board of Directors.
For further information, please visit www.chanticleerholdings.com.
For further information on Hooters of America, visit www.Hooters.com.
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.
Chanticleer Holdings, Inc.
Phone: 704.366.5122 x 1
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