Republic of Texas Brands Incorporated Announces Sale of First License Agreement and WallStreetCorner.com Independent Stock Analyst Research Report
DALLAS, TX--(Marketwire - Nov 26, 2012) - Jerry Grisaffi, Chief Executive Officer and Chairman of the Board of Republic of Texas Brands Incorporated (PINKSHEETS: RTXB), announced today that RTXB has entered into a 15 year license agreement with Vince Ngwenya for an 1824 Texas Best Barbecue Restaurant in Pecos, Texas and an additional restaurant in Dallas, Texas, to be opened after the Pecos location.
"We are very excited to have signed our first license agreements with Mr. Ngwenya for Pecos and Dallas. Pecos has strong potential due to the fast casual dining demand created by the oil and gas boom currently underway in West Texas. The demand far outweighs the supply in that region. We are also excited to have our first license agreement in the Dallas area, which is where Republic of Texas Brands' corporate office is located," said Grisaffi.
Mr. Ngwenya indicated that the Pecos location should open around the first of 2013, followed by a Dallas location during the second quarter of 2013. "I am pleased to be on the ground floor of the unique dining opportunity that will exist in the 1824 Texas Best Barbecue restaurants. The smoked meats we will offer will be the best tasting barbecue available," said Mr. Ngwenya.
On November 6, 2012, RTXB announced that it had entered into a co-packing agreement with Bergheim Texas Barbecue to provide all of the smoked meats for RTXB's 1824 Texas Best Barbecue Restaurants. "By having all meats smoked at Bergheim Texas Barbecue, we can provide a consistent flavor and quality unparalleled in fast casual barbecue restaurants today, while keeping our labor costs down at the same time," said Grisaffi.
Mr. Grisaffi also announced that WallStreetCorner.com has completed a thorough in-depth Research Report on RTXB, which will be available for review this week at www.wallstreetcorner.com.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," "intend," "believe," "plan," "estimate," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations.
