Los Angeles, Jan. 29, 2019 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc. (OTCQB: GIGL), owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, today announced it will host an investor conference call on Wednesday February 6, 2019, at 2:00pm. PST to update investors on key company initiatives.
“We look forward to the opportunity to share the details of the relaunch of our crowdfunding campaign during the upcoming call,” commented Joey Parsi, Founder and co-CEO of Giggle N’ Hugs. “While our previous campaign meaningfully underperformed our expectations, for a variety of reasons, we believe the relaunched campaign, with new and amended terms that will make it simpler to understand and significantly more attractive to potential new and existing investors, will allow us to make this campaign better aligned and positioned for success.”
Parsi, continued, “We are also looking at alternative methods to market the campaign, which may include digital and other alternative marketing. We anticipate the relaunch to take place next month.”
“Philip Gay and I also plan to discuss several initiatives underway designed to have a positive impact on our business, operations, and hopefully our stock price. Although there are no guarantees of success, these initiatives include the signing of a potential lease for a new location outside of California. We are in active discussion with Brookfield Properties, who recently acquired General Growth Properties, and is our current landlord in our Glendale location, who may still offer us new leases, despite our current financial position and balance sheet as they believe in our brand which is a testament to the amount of foot traffic we bring to malls and how unique the Giggles N’ Hugs concept is,” stated Parsi.
In addition, the Company recently engaged one of the top business brokers in Los Angeles and has been introduced to several candidates for potential synergistic acquisitions. Discussions are early stage, and the Company may not close on any of the transactions for several reasons, but the potential could be significant, if achieved. Additional announcements will be made as talks progress and terms are negotiated.
The same business broker has also been tasked with finding an investor and/or investor groups that could potentially become significant shareholders in the company with an investment that would provide the necessary expansion capital to execute on previously announced Company plans. The engagement is early stage and no serious discussions have yet taken place.
“We appreciate the continued support of our shareholders and look forward to speaking in-depth with everyone on the call in regard to all the above,” said Parsi. “We recognize the challenges that lay ahead, including regaining the minimum bid requirement for OTCQB listing, and remain committed to exploring every option to succeed and achieve our growth objectives. With the success we’ve seen at the store level, with year-over-year sales increases and margin improvements, the rave reviews we’ve received from customers, the coverage we’ve garnered in the media, the foot traffic we bring to malls, the uniqueness of the concept, and more, we remain highly optimistic for the future", Parsi concluded.
Please join us on the call.
Call Details:
Date: Wednesday February 6, 2019
Time: 02:00 p.m. PST
Dial-in number: (515) 604-9319
Access code: 747760
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.