Davenport, Iowa Selected as Site for 6th Granite City Food & Brewery.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--March 5, 2003 Granite City Granite City, city (1990 pop. 32,862), Madison co., SW Ill., an industrial suburb of East St. Louis, on the Mississippi; inc. 1896. It has port and rail connections. Food & Brewery Ltd. (Nasdaq:GCFB) announced today that The Dunham Company has purchased land in Davenport, Iowa Davenport is a city in the American state of Iowa that borders the Mississippi River. As of the 2000 census, the city had a total population of 98,359. A 2006 estimate tells that the city had grown slightly to 99,514. which will be the site of the company's sixth Granite City Food & Brewery(R). The Dunham Company has an exclusive agreement with Granite City Food & Brewery Ltd. to develop Granite City restaurants. Headquartered in Sioux Falls, South Dakota Sioux Falls (IPA: [su fɑlz]) is the largest city in the U.S. state of South Dakota, and the county seat of Minnehaha County.GR6 The 2007 city population is 148,000. , The Dunham Company will provide construction management and financing for this restaurant and will enter into a leasing arrangement regarding the building, with the company. "Davenport is an important part of our growth strategy," said Steve Wagenheim, Granite City Food & Brewery's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "and it's a natural fit for our expansion throughout the upper Midwest. On the heels of our restaurant openings in West Des Moines West Des Moines (də moin`), city (1990 pop. 31,702), Polk co., S central Iowa, a growing suburb W of Des Moines; inc. 1893 as Valley Junction, renamed 1938. Products manufactured there include cement, metal items, and pumps. and Cedar Rapids, we are planning a first quarter 2004 opening for our Granite City in Davenport." The Company has begun construction in West Des Moines, Iowa West Des Moines is a city in Polk, Dallas, and Warren counties in the U.S. state of Iowa. As of the 2000 census, the city population was 46,403; a special census taken in the spring of 2005 counted 51,744 residents. and has purchased land in Cedar Rapids, Iowa for its fourth and fifth restaurant locations, respectively. Wagenheim said the Company is currently negotiating for several additional sites in the Midwest. Granite City Food & Brewery Ltd. operates three casual dining restaurants featuring made-from-scratch food and handcrafted hand·craft n. Variant of handicraft. tr.v. hand·craft·ed, hand·craft·ing, hand·crafts To fashion or make by hand. hand·craft beers. Its broad menu offers traditional and regional foods served in generous portions at reasonable prices, affording guests an excellent value and great dining experience. Its first Granite City location, in St. Cloud, MN, opened in June 1999. The Company's second location opened in Sioux Falls, SD, in December 2000, and the third location opened in November 2001 in Fargo, ND. Certain statements made in this press release of a non-historical nature constitute "forward looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors include, but are not limited to, changes in economic conditions, changes in consumer preferences or discretionary consumer spending, a significant change in the real estate market, our ability to complete construction of additional restaurants at acceptable costs, and the risks and uncertainties described in the Company's Form 10-KSB Report for the year ended December 30, 2001 as filed with the Securities and Exchange Commission. |
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