DENVER, June 24, 2015 /PRNewswire/ -- ILLEGAL Restaurant
Group Inc. (OTC: IBGR), through funds allocated from its recent
credit facility with TCA Global Master Fund, purchased the assets
of former restaurant Cafe Colore located in the prestigious
Downtown LoDo District of Denver,
Colorado.
Photo - http://photos.prnewswire.com/prnh/20150623/225085
Cafe Colore has been a long time staple of Writer's Square and
ILLEGAL Restaurant Group is proud to have the opportunity to
continue this great location's success by now opening an ILLEGAL
BURGER in its place. Through this recent acquisition of assets,
IBGR is already in the process of renovating this third location.
This will be the largest restaurant to date for the ILLEGAL BURGER
and Bar Fast Casual Chain with an indoor seating capacity of 78 and
an outdoor patio area that seats 70.
Writer's Square is located within the heart of Denver's LoDo District, which has become one
of the anchors for Downtown
Denver, and the "go-to" place for shopping, restaurants,
entertainment, and nightlife. ILLEGAL BURGER is located one block
away from the famous 16th Street Pedestrian Mall;
across from Larimer Square,
as well as across the street from Denver's premier comedy club, Comedy
Works, and 3 universities: the University
of Colorado DBS, University of
Colorado-Denver, and University of
Colorado DAC. This new location will allow ILLEGAL BURGER to
serve patrons from these universities, various surrounding office
buildings, condos, daytime shoppers, and nighttime entertainment
patrons.
Jim Nixon, CEO of ILLEGAL
Restaurant Group Inc., and Founder of ILLEGAL BURGER, stated, "This
will be our largest expansion project we have taken on to date. In
order for us to expand the IBGR brand nationwide this is a
necessary first step logistically, by moving into areas like
Writer's Square, and downtown Denver. This acquisition will help create and
provide a staging ground for future expansion in larger markets and
training of employees to serve a higher density of people, all
while maintaining the ILLEGAL BURGER Standard of food quality.
This location will create an environment for ILLEGAL BURGER
to eventually tap into larger markets like San Diego, Miami and Las
Vegas. We are expecting this location to gross from
$1.2 - $1.5 million a year with an
initial build out expense around $250,000."
ILLEGAL BURGER is planning a grand opening within the next 6-8
weeks and will provide follow up information regarding exact
dates.
About ILLEGAL BURGER
ILLEGAL Restaurant Group Inc. is a holding company operating
through its subsidiary ILLEGAL BURGER LLC. The Company, through its
subsidiary, ILLEGAL BURGER LLC, operates a fast casual burger and
bar restaurant chain. It currently owns and operates two
restaurants in the Denver,
Colorado area with a third slated to open in July 2015. ILLEGAL BURGER, a Denver, Colorado-based fast casual burger and
bar restaurant chain, was created to change the way people look at
burgers. Founded by Jim Nixon in
2013, ILLEGAL BURGER has established a foothold in the Denver, Colorado area by providing great
service and high quality food. From the details of our sustainable
decor, to the quality products used in every aspect of our food,
ILLEGAL BURGER is in line to expand into the national Marketplace
as a leader in the Fast Casual Dining Sector. We are
dedicated to giving our customers what they deserve: a burger made
with quality, all-natural never frozen ingredients that tastes as
good as it looks. Experience perfection with every bite, only at
ILLEGAL BURGER. For more information, please visit our website at
www.illegalburgerco.com
Safe Harbor
This release, like many written and oral communications
presented by ILLEGAL Restaurant Group Inc. (IBGR), and our
authorized officers, may contain certain forward-looking statements
regarding our prospective performance and strategies within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
We intend such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995, and are including
this statement for purposes of said safe harbor provisions.
Forward-looking statements, which are based on certain
assumptions and describe future plans, strategies, and expectations
of the Company, are generally identified by use of words
"anticipate," "believe," "estimate," "expect," "intend," "plan,"
"project," "seek," "strive," "try," or future or conditional verbs
such as "could," "may," "should," "will," "would," or similar
expressions. Our ability to predict results or the actual effects
of our plans or strategies is inherently uncertain. Accordingly,
actual results may differ materially from anticipated results.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Except as required by applicable law or regulation, IBGR
undertakes no obligation to update these forward-looking statements
to reflect events or circumstances that occur after the date on
which such statements were made.
Copyright 2015
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SOURCE ILLEGAL Restaurant Group Inc.