Bagger Dave’s Burger Tavern, Inc. Provides Update on Share Distribution
January 25 2017 - 10:45AM
Bagger Dave's Burger Tavern, Inc. (expected to be OTCQX: BAGR)
("BAGR" or the "Company"), owner and operator of 18 Bagger Dave's
restaurants in Indiana, Michigan and Ohio, today announced an
update on the recent spinoff from Diversified Restaurant Holdings,
Inc. (NASDAQ:SAUC) (“DRH”).
The 1-for-1 distribution of BAGR shares occurred on
December 25, 2016 for DRH shareholders of record on December 19,
2016. The request for the stock symbol “BAGR” has been made
with Financial Industry Regulatory Authority (“FINRA”) and the
application to trade on the Over-the-Counter market (“OTCQX”) was
also submitted.
Michael Ansley, Chairman and Chief Executive
Officer of BAGR, commented “The spinoff and the distribution of the
shares has been successfully completed. As an independent
business, we can focus exclusively on the Bagger Dave’s concept and
drive customer awareness and satisfaction. We are excited to
be in the home stretch to have BAGR shares traded on the
OTCQX. I would like to thank our employees and shareholders
for their patience through the process.”
The shares of BAGR will begin to trade on the OTCQX
market place once clearance is received from FINRA for Spartan
Securities to make a market for BAGR stock. This process is
expected to be completed within the next few weeks.
For further tax information for the BAGR stock
distribution, please refer to the Investors section of the website
at
http://www.diversifiedrestaurantholdings.com/investors/sec-filings/default.aspx.
About Bagger Dave’s Burger Tavern,
Inc.Bagger Dave’s is a unique, full service, ultra-casual
restaurant and bar concept that began business in January 2008.
We currently operate 18 Bagger Dave’s restaurants, with 15
located in Michigan, one in Indiana and two in Ohio. In addition,
we have the right to franchise the concept in Illinois, Indiana,
Kentucky, Michigan, Missouri, Ohio and Wisconsin. The Company
routinely posts news and other important information on its website
at www.baggerdaves.com.
Safe Harbor StatementThe
information made available in this news release contain
forward-looking statements which reflect BAGR's current view of
future events, results of operations, cash flows, performance,
business prospects and opportunities. Wherever used, the words
"anticipate," "believe," "expect," "intend," "plan," "project,"
"will continue," "will likely result," "may," and similar
expressions identify forward-looking statements as such term is
defined in the Securities Exchange Act of 1934. Any such
forward-looking statements are subject to risks and uncertainties
and the Company's spinoff, actual growth, results of operations,
financial condition, cash flows, performance, business prospects
and opportunities could differ materially from historical results
or current expectations. Some of these risks include, without
limitation, the impact of economic and industry conditions,
competition, food and drug safety issues, store expansion and
remodeling, labor relations issues, costs of providing employee
benefits, regulatory matters, legal and administrative proceedings,
information technology, security, severe weather, natural
disasters, accounting matters, other risk factors relating to
business or industry and other risks detailed from time to time in
the Securities and Exchange Commission filings of BAGR.
Forward-looking statements contained herein speak only as of the
date made and, thus, BAGR undertakes no obligation to update or
publicly announce the revision of any of the forward-looking
statements contained herein to reflect new information, future
events, developments or changed circumstances or for any other
reason.
Investor and Media Contact:
Deborah K. Pawlowski
Kei Advisors LLC
716.843.3908
dpawlowski@keiadvisors.com
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