Healthy & Tasty Brands Corp (OTCMKTS:GRLT) has completed the acquisition of franchise rights to the GRILLiT restaurant concept as it continues to pursue new opportunities for growth. With the acquisition, the restaurant chain should be able to expand its customer base, as the deal goes a long way in bolstering its menu with more Latin-Caribbean fusion.
Buoyed by the acquisition Chief executive officer, Keith Wilkerson says, Ghazi Hajj is to remain as a consultant to assist in the transition. He is expected to play a key role in the expansion strategy as Healthy and Tasty Brands continues to explore an effective franchise expansion plan.
The acquisition will not only benefit Healthy and Tasty Brands on the domestic market but it is expected to bolster its prospects on the international scene. Wilkerson says they decided to acquire the franchise rights to leverage emerging opportunities as demand for healthier food choices and premium ingredients continue to grow.
New Credit Line
The acquisition of the franchise rights comes weeks after the restaurant chain closed a deal on a $5 Million revolving credit facility. The company has already received the initial $700,000 tranche. The credit line is to be used to fund acquisition such as the one for GRILLiT rights as well as retrofit existing restaurants.
The company intends to use the credit line to finance its expansion strategy that involves the building of new locations. Part of the funds is also to be used to finance marketing and branding campaigns expected to fuel sales.
Healthy & Tasty Brands Corp (OTCMKTS:GRLT) currently has four existing restaurant locations. With the funds, it should be able to retrofit other restaurant locations. The credit facility is thus expected to strengthen the company’s capacity while supporting growth objectives. In defense of the credit line, chief executive officer maintains that the credit line comes with a limited equity kicker. He also expects the facility to go a long way in protecting the company from having to issue additional equity to cater for expansion plans.
Life Clips Inc (OTCMKTS:LCLP) Reaffirms Global Growth Clips.
Days after signing a distribution agreement for Mobeego, Life Clips Inc (OTCMKTS:LCLP) has once again reaffirmed its growth prospects on the international scene with the signing of a distribution agreement in Brazil. BConnexion becomes the company’s latest partner on its push to make the disposable and recyclable battery mainstream on international markets.
Given that the deal in Brazil is worth $800,000 for 500,000 units, all but reaffirms the battery’s ability to attract sales on the international scene. Barak Corporation is the other partner that is expected to solidify Mobeego prospects in Europe having also signed a distribution agreement for 400,000 units.
Life Clips Inc (OTCMKTS:LCLP) is also pursuing sales opportunity with its flagship product in China having already signed a distribution agreement with Hong Kong’s Shepherd limited. Given the size of the distribution deal, the action camera maker remains confident of having a stellar year on the earnings front this year.