Elephant & Castle gets US$2 million to continue expansion plans.VANCOUVER, British Columbia--(BUSINESS WIRE)--March 21, 1997-- Elephant & Castle Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PUBSF, PACIFIC: PUB) of Vancouver, BC announced today that it has received an additional US$2 million convertible note investment from an investing partner. The Company will use the monies to continue its expansion plans by opening two new restaurants in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . This expansion is consistent with the Company's strategic direction. The Company previously announced that it has entered into a Letter of Intent to form a joint venture with Rainforest Cafe Rainforest Cafe is a themed restaurant chain owned by Landry's Restaurants, Inc. of Houston, Texas. It was founded and created by entrepreneur Steven Schussler. Description , Inc. (RAIN-NASDAQ, National Market) to develop Rainforest Cafe units in Canada. Announcements concerning this venture are expected shortly. The US$2 million received by the Company is the second tranche in a commitment of up to US$10 million made by General Electric Investment Private Placement Partners II, a Limited Partnership. The money will go to completing two new pub-restaurants that are now being built at hotel locations in downtown Boston, MA and Seattle, WA. Opening for each unit is expected in the summer. The Boston pub-restaurant, for which a lease was signed late last week, is the second for the company on the Eastern Seaboard. It will be located in the new 200-room Club Quarters Hotel on Devonshire Street. Elephant & Castle will operate a 250-seat street level pub-restaurant, as well as provide all of the hotel's other food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. services, including banquets and room service. The Seattle pub-restaurant will be located at the Cavanaugh's Hotel on Fifth Avenue, a 300-room hotel located between Pike and Union Streets that opened in May 1996. The location is one block from the Spielberg Gameworks, Nike Town and Nordstrom's new flagship department store. Famous for its authentic British tastes and decor, the Elephant & Castle is the undisputed leader in the authentic pub-restaurant genre. Tudor in style, with loads of imported bric-a-brac to provide welcoming comfort, the restaurant is equally famous for its "pub grub" - a menu that includes fish and chips fish and chips pl.n. Fried fillets of fish and French-fried potatoes. Noun 1. fish and chips - fried fish and french-fried potatoes dish - a particular item of prepared food; "she prepared a special dish for dinner" , steak and kidney pie Noun 1. steak and kidney pie - steak with sauteed kidneys and onions cooked in wine and stock then covered with pastry and baked meat pie - pie made with meat or fowl enclosed in pastry or covered with pastry or biscuit dough , hangers and mash, roast beef and Yorkshire pudding, and English Trifle for dessert. The solid mahogany bars in Boston and Seattle will be stocked with a huge assortment of draft and bottled beers and an extensive line of single malt scotches. As with all E&C pub-restaurants, guests will be able to make their phone calls from an authentic, bright-red British phone booth. They are pub-restaurants that promise to be destinations "where you can eat for peanuts!" Other U.S. Elephant & Castle pub-restaurants are located in Philadelphia, PA and San Diego, CA. After opening in Boston and Seattle, the E&C will have 23 restaurants in its family in the U.S and Canada, including Rosie's on Robson, a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of style deli in Vancouver, BC and the Alamo Alamo Eighteenth-century mission in San Antonio, Texas, site of a historic siege of a small group of Texans by a Mexican army (1836) during the Texas war for independence from Mexico. Grill Steak and Rib House at the Mall of America Mall of America (also MOA, MoA, or the Megamall) is a shopping mall located in the Twin Cities suburb of Bloomington, Minnesota. It is just southeast of the junction of Interstate 494 and Minnesota State Highway 77, and is across the interstate from the in Minneapolis, MN. CONTACT: Elephant & Castle, Vancouver Wendy Lowrie, 604/684-6451 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion