IBAC Corporation IBCX) announced today that they
have formed The Bonita Springs Restaurant Group, Inc., a Florida
Corporation, as a wholly owned (100%) subsidiary of IBAC for its
recently agreed upon acquisition of The Sanibel Steakhouse in Bonita
Springs, Florida.
The company and its advisors are considering a reformatting of the
restaurants concept/menu that would be more contusive to the area of
which would generate greater revenues, the concept under consideration
is a international cuisine theme specializing in such fair as poached
Chilean sea bass, porterhouse Florentine, kobe beef, tuna sashimi,
spaghettini puttanesca and other high end cuisine.
The company believes that with the addition of menu selections
that this location can generate upwards of three million dollars a
year and will create a new sense of excitement and increased traffic
for the establishment.
"We are thrilled with this acquisition and the potential
considering the explosive growth of the Bonita Springs Area and will
complete all contracts, lease's and due diligence involved within the
next two weeks of the restaurant's inventory, assets and financial
statements as the company is eager to take possession of the property
as soon as possible. The company is also aggressively pursuing
additional restaurants and hotels in the Florida market," stated Wayne
Burmaster, President & COO.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating
through its subsidiaries within the Hospitality, Food Service &
Restaurant and other industries. IBAC now operates businesses as the
majority owner with over 100 employees in Florida, Tennessee &
Arkansas that includes a 200 room full service hotel, 127 room limited
hotel, 4 restaurants/lounge 10,000 sf of banquet space and the
exclusive concession, food, beverage & catering contract with the Pine
Bluff Convention Center.
For more information, please visit: www.ibaccorp.com
Forward-Looking Statements
Certain statements in this release, and other written or oral
statements made by the Company, including the use of the words
"expect," "anticipate," "estimate," "project," "forecast," "outlook,"
"target," "objective," "plan," "goal," "pursue," "on track," and
similar expressions, are "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, as amended. These
forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
performance, or achievements of the company to be different from those
expressed or implied. The Company assumes no obligation and does not
intend to update these forward-looking statements. Among the important
factors that could cause actual results to differ materially from
those indicated by such forward-looking statements include, without
limitation: competitive and general economic conditions, adverse
effects of litigation, the timely development and acceptance of our
products and services, significant changes in the competitive
environment, the failure to generate or the loss of significant
numbers of customers, the loss of senior management or increased
government regulation.
KEYWORD: NORTH AMERICA FLORIDA NEW YORK UNITED STATES
INDUSTRY KEYWORD: TRAVEL DESTINATIONS LODGING RETAIL FOOD/BEVERAGE RESTAURANT MERGER/ACQUISITION
SOURCE: IBAC Corporation
CONTACT INFORMATION:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations@ibaccorp.com
www.ibaccorp.com
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