8:31 AM ET 3/23/17 | Marketwired
CHARLOTTE, NC--(Marketwired - March 23, 2017) - Chanticleer Holdings, Inc. (NASDAQ: HOTR) ("Chanticleer," or the "Company"), owner, operator and franchisor of multiple branded restaurants in the U.S. and abroad, today announced its tenth Little Big Burger ("LBB") in Oregon, scheduled to open on March 28, 2017. In August 2016, the Company announced that it had raised $500,000 in Direct Investment EB-5 financing to open two new LBB stores; this Hillsboro location as well a store in the Lloyd District of Portland, which opened in November 2016.
Portland is the largest city in Oregon, with 60% of the state's population residing within the city's metropolitan area. The Hillsboro store is in the Platform District at 940 NE Orenco Station Loop. Hillsboro, which is to the west of Portland's metropolitan area, hosts many high-tech companies that comprise what has become known as the Silicon Forest.
Rich Adams, President and Chief Operating Officer of American Burger Company, parent company of LBB, commented, "We are very pleased to open this new Little Big Burger location to serve our loyal customers in another vibrant Portland neighborhood and to have had the opportunity to utilize Direct Investment EB-5 financing which provides attractive, non-dilutive capital to expand our regional brands. Little Big Burger has been performing well with particularly attractive store economics, and we look forward to continuing to strategically utilize EB-5 financing for additional LBB restaurants as well as our other regional brands."
