USMJ and PJET Follow WCVC Restaurant Franchise Model For AmeriCanna Cafe
WCVC Announces Illegal Burger Restaurant Franchise Launch With Plans For Future Concept Franchises
DENVER, Jan. 29, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- West Coast Ventures Group Corp. (OTCQB: WCVC) (“WCVC”) today announced it will be franchising its Illegal Burger restaurant chain. WCVC is a concept restaurant platform company with multiple concept restaurants in the works. WCVC currently has six restaurants in the Denver area under its Illegal Burger and El Señor Sol banners. Illegal Burger recently entered into an agreement with North American Cannabis Holdings (“USMJ”) to rollout a pilot cannabis-themed restaurant in Colorado as part of USMJ’s spinoff of the AmeriCanna Cafe. WCVC plans to begin the sale of Illegal Burger franchises in 90 to 120 days. Management anticipates the franchise business to substantially add to the company's existing $3 million in approximate annual revenue.
Jim Nixon, CEO of WCVC commented, “We are excited about this upcoming new revenue stream for the Company. As many are aware franchising brings significantly greater bottom line profit compared to Company owned locations. We have received many inquiries over the last few months requesting the availability of franchises. We expect a very positive response to WVCV adding this aspect.”
AmeriCanna Cafe concept restaurant spinoff from USMJ is being effected by the sale of AmeriCanna Cafe to an independently listed public company, Priority Aviation (name change pending). The spinoff transaction includes a planned issuance of PJET stock to the shareholders of USMJ in a dividend distribution. Illegal Burger, a subsidiary of WCVC will partner with AmeriCanna Cafe to pilot a cannabis-themed restaurant in Colorado. The pilot will be launched in the form of a food truck featured in pop-up venues near a series of recreational marijuana dispensaries in Colorado. The pilot rollout is scheduled to start in the spring of 2019. AmeriCanna Cafe is expected to closely follow the successful Illegal Burger business model and similarly add a franchise offering to accelerate future growth.
About West Coast Ventures Group Corp.
Based in Denver, Colo., 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 (6 total restaurant locations in the Denver, Colorado area). 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.
Forward-Looking Statements
This document may contain forward-looking statements, relating to West Coast Ventures Group Corp operations or to the environment in which it operates, which are based on West Coast Ventures Group Corp operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond West Coast Ventures Group Corp control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. West Coast Ventures Group Corp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Steven Rash
CEO North American Cannabis Holdings, Inc.
