Harrison, Vickers and Waterman, Inc. ("HVCW") Announces the Agreement to Build Its Next WOB Tavern in Cambridge, Massachusetts
NORTH PALM BEACH, FL--(Marketwired - Oct 27, 2015) - Harrison, Vickers and Waterman, Inc. (OTCBB: HVCW): Attitude Drinks, Inc. (OTC PINK: ATTD) announced today that its JV partner, New England WOB LLC, has signed a definitive lease agreement for a location in the prestigious CambridgeSide Galleria in the Cambridge/Boston, Massachusetts area. As with previous agreements in West Hartford and Milford, Connecticut, the Company has agreed to fund this new venture whereby HVCW will own 51% of the tavern while the restaurant will be operated by New England WOB LLC.
This CambridgeSide Galleria location enjoys a number of extraordinary attributes including a 4,300 square foot location with internal and external access. The Galleria represents a total of one million square feet, has over seven million visitors annually, 2,500 parking spaces and 630 adjacent hotel rooms. There are 250,000 college students in the Cambridge/Boston area and the Galleria is surrounded by twenty million square feet of office and R&D space. Construction will begin in January and operations should commence by spring 2016.
Roy G. Warren, CEO of HVCW, commented, "We continue to be delighted to invest in this exciting new concept with our great partners at New England WOB LLC. The West Hartford tavern that began operation in January continues to outperform our forecasts and we are increasingly confident that the WOB concept, combined with the managerial expertise of our JV partners and the geographic locations sourced for our business is proving to be an exciting prospect for all stake holders."
About HVCW
Harrison, Vickers and Waterman, Inc. is the owner of Attitude Beer, Inc. Attitude Beer has a joint venture agreement with New England WOB LLC to develop select World of Beer franchised locations in the State of Connecticut and greater Boston areas. Together we opened a 4,000 sq. foot WOB tavern in West Hartford, CT in January 2015 that sells a selection of over 500 craft and imported beers along with tavern food and other spirits and cocktails. New England WOB LLC holds franchise rights for all of Connecticut and the greater Boston area. Recently, Attitude Beer announced an agreement with New England WOB LLC to develop new taverns in Milford, CT and Boston, MA. The Company is seeking additional opportunities in the craft beer industry. For additional World of Beer locations that are developed through the joint venture, Attitude Beer Holding Co. plans to hold a 51% interest and New England WOB LLC will hold a 49% interest in the joint venture's new World of Beer locations. For more about HVCW: visit: www.attitudebeer.com
Disclaimer
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include statements regarding the prospects of improving the results in the West Hartford WOB tavern and continuing to refine this business concept in more taverns, and the timing of the renovation and commencement of operations of the new taverns. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the Company's ability to improve its results and accelerate its growth, open new taverns, exploit this niche in the craft beer industry and the other risk factors discussed in the Business and Management's Discussion and Analysis sections in our Annual Report on Form 10-K for the year ended March 31, 2014 and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
