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Tuesday, 01/02/2018 9:27:02 PM

Tuesday, January 02, 2018 9:27:02 PM

Post# of 21937
West Coast Ventures Group CEO Issues Year-End Shareholder Update

From the PR PRNewswire

DENVER, January 2, 2018 /PRNewswire/ --

Significant Expansion Expected Through the Launch of the Company's National Franchising Model

West Coast Ventures Group Corp. (OTC: WCVC) ("Company") CEO, James Nixon provided a year-end shareholder update today highlighting the Company's current activities and its corporate strategy for 2018.

"We would like to thank all our shareholders and customers alike, for the support that continues to drive our ongoing corporate success", stated CEO, James Nixon, adding, "As we conclude the year poised for significant growth management wants to ensure shareholders are well-informed regarding our corporate strategy focused on franchising, acquisition and expansion as well as understand the results of our operations for this year through the first three quarters."

FRANCHISING

The Company expects to begin the process of allowing the sale of its wholly owned subsidiary "Illegal Burger" (IB) Franchises through a leading franchise consulting firm to manage all aspects from preparation of the Franchise Agreement to the execution of a strategic sales and marketing program. An essential aspect of the expected franchise model is the Company's plan to open new locations with the explicit intent of selling them to franchisees. Management believes this will open the market to an additional group of potential franchisees and expedite growth.

Additionally, the Company is in the process of evaluating additional quick-casual restaurant concepts to develop and open proof-of-concept locations. Updates are expected to be announced in Q1 of 2018.

ACQUISITIONS

The Company is currently evaluating a number of potential acquisitions of existing restaurant locations in the Denver and Phoenix, AZ areas. These locations currently generate approximately $6 million in combined annual revenue and are reflective of the size and profile of additional acquisition targets to be identified by the Company as part of its planned acquisition strategy moving forward.

EXPANSION

The Company has engaged a prominent real estate brokerage familiar with the requirements we have set forth for identifying potential locations including our target demographics. The expansion process involving opening new locations in this manner will evolve at the pace of the market and demand to ensure highest probability of success.

RESULTS OF OPERATIONS

Total revenues for the first three quarters of 2017 were $2.1M, an increase of 12.5% over fiscal year 2016. Ongoing restaurant operations are, and have been profitable.

During 2017, we have revamped our corporate back office operations, to include: accounting, payroll, inventory control, POS and operating and training manuals as well as restructuring certain corporate level job positions to create a more seamless and standardized presentation to our customers.

ABOUT West Coast Ventures Group

Based in Denver, Colorado, West Coast Ventures Group Corp. (WCVC) develops, owns and operates two contemporary restaurant concepts: ILLEGAL BURGER, a quick-casual Burger + Bar concept, and El Señor Sol, a full-service fresh Mexican restaurant. Led by seasoned restaurant entrepreneurs, WCVC management is committed to scaling both modern sustainable concepts into national franchise models operating metro-styled restaurants serving only the finest and freshest natural ingredients.

For Further Information: https://www.westcoastventuresgroupcorp.com/ https://www.illegalburger.com/

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