1812 Brewing Company Inc (KEGS)

[WallStreetFamily]

Seaway Valley in Discussions with Metro Restaurant for Possible Acquisition
Friday June 6, 10:40 am ET
Management looking to expand restaurant group outside northern New York

WATERTOWN, N.Y.--(BUSINESS WIRE)--Seaway Valley Capital Corporation (OTC Bulletin Board: SWVC - News) today announced that it’s wholly owned subsidiary, North Country Hospitality, Inc. (“NCH”), owner of Good Fello’s Brick Oven Pizza and Wine Bar, Sackets Harbor Brew Pub, The Cantina, and Sackets Harbor Brewing Company, has begun preliminary discussions with the owners and management of a restaurant in a metro area in New York State. The discussions, although preliminary, are aimed at finding opportunities to strategically expand the North Country restaurant group outside the region, and areas targeted for expansion include Albany, Syracuse, Rochester, and Buffalo. This particular restaurant, which this year expects to generate about $1.8 million in food and beverage revenues, is in one of these targeted markets.

Christopher Swartz, President of NCH, stated, “We feel that the timing is right to begin aggressively seeking opportunities to take our current concepts – or to acquire others – outside the region so that we can gain a greater overall market share by being exposed to a greater number of consumers.” Mr. Swartz continued, “And although these discussions with this particular restaurant are just beginning, they represent the posture of the company.”



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