Grillit Inc (GRLT)

[cautiousoptimism]

The Pretzel Haus Receives Additional Funding
Financing Agreement Announcement | 02/07/2022
The Pretzel Haus is announcing that it has received a 140K fixed rate note to support the growth and buildout of The Pretzel Haus locations in Tampa Florida. This is not a convertible note, as I have stated, GRILLiT plans to build the business through the operations of our physical retail locations. This financing arrangement was obtained through a personal guaranteed by Greg Mitchell for the purpose of providing additional liquidity as we execute on our strategy to grow The Pretzel Haus brand and pay off higher interest rate debts. We had planned for the honeycomb campaign, that closed in mid-January, to provide adequate funding that would allow us to execute on our 2022 growth plan, but when that campaign was falling short of expectations, the decision to obtain the fixed rate note was the next logical step to provide the funding so we can execute the growth plan of The Pretzel Haus. This is good news for our shareholders as we will continue to look for non-dilutive strategies to open additional locations and enhance our current locations in Carrollwood and Palm Harbor. This shows a strong commitment by Greg Mitchell as he continues to personally support and develop the Pretzel Haus Brand and the operations of the GRILLiT business into a self-sustaining business for shareholders.



CONTACT:

Greg Mitchell - CEO

https://grillitbrands.com/

E-mail: [e-mail]