|By Marketwired .||
|January 17, 2013 01:27 PM EST||
BETHESDA, MD -- (Marketwire) -- 01/17/13 -- The Dry Fried Wing Company (OTCQB: EEDG) has announced the signing of an Agreement that will give the Company a 51% controlling interest in The Box Sports Bar. The Company intends to change the name of The Box to "DFW Bar and Grille" upon final closing. The Company also intends to utilize the establishment for franchise training and mass production of its extraordinarily popular "DFW Sauce," and make it the DC Area flagship for its new Sports Bar franchising program.
"This acquisition puts us right into the mix of the Sports Bar franchising boom," said DFW co-founder and Chairman Dr. Benjamin Chavis. "We believe our uniquely delicious Dry Fried Wings, along with our status as a publicly traded company, sets us apart from virtually everyone in the game and gives us the ability to convert and acquire many of the more attractive smaller players in the marketplace. We have already been approached by an incredible number of successful operators inquiring about co-branding our wings, and have gotten very positive feedback from them regarding franchise conversion possibilities."
The pending acquisition takes place simultaneous to the Ribbon Cutting ceremony scheduled for 2:00 PM Friday, at which Maryland State Officials and former RNC Chairman Michael Steele will be joining Dr. Chavis to welcome "DFW" to Maryland and discuss its implications for economic transformation and development across the region. Award winning actor Charles Dutton and Charles Sills, Executive Director of the entrepreneurial focused Veterans foundation VetPower.org, will be joining the highly honored list of attendees.
The Ribbon Cutting will be followed by a solidarity salute to the surviving members of the Wilmington Ten who recently received an unprecedented pardon of innocence from the Governor of North Carolina for their wrongful conviction and imprisonment 40 years ago in a landmark civil rights case. The public is invited to join in the celebration from 3:00-5:00 PM with complimentary Dry Fried Wings being served to all.
"Dr. Ben is all about entrepreneurship and economic empowerment and I am absolutely ecstatic to become a part of his DFW Team," said George Farrell, current owner of The Box. "It is so fitting that his final vindication and this once-in-a-lifetime celebration is taking place at the same time that his transformational company has taken a giant leap forward towards its ultimate goals. Dr. Ben has been a lifelong hero of mine and I am truly blessed to be able to be a part of this day in such a meaningful way."
For more information please visit www.dryfriedwings.com
This release contains statements, which may constitute "forward-looking statements" within the meaning of Securities Act of 1933 and Securities Exchange Act of 1934, as amended by Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, occurrence of unanticipated events, or changes to future operating results.
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