GRILLIT® Enters LOI to Acquire Third Restaurant Location Near University of Miami Campus

GRILLiT, Inc. (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  (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.

Advertisements

Tags: , , , , , ,

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: