IRVINE, CA / ACCESSWIRE / October 12, 2015 / Independent Film Development Corp. (PINKSHEETS: IFLM), a diversified, publicly-held hospitality and entertainment company, today announced that it completed the acquisition of C2C Restaurant Group of New York in an all stock deal.
"We've closed the deal and we're locked in," said Jeff Ritchie, CEO of IFLM. "We look forward to opening the first location of Chef Eddie G's Kitchen in East Harlem in the coming weeks."
"Now that the legal is done, I can get back to doing what I do best - serving my guests," said C2C President Edward Gallagher. "The lease is signed - I have the keys. We just need to finish the build out and open the doors."
Image: https://www.accesswire.com/uploads/Eddie%20G.jpg
The first location of the flagship restaurant, Chef Eddie G's Kitchen, is to be located on Park Avenue in Manhattan and is slated to open during the fourth quarter of this year. It is themed as a global small plate steakhouse, with a sharing menu priced at five, ten, fifteen and twenty dollars. A bar stocked with regional favorites including selections from local wineries and micro-breweries is also planned. Originally slated for a mid-October opening, IFLM management is targeting an early to mid fourth quarter 2015 opening.
"Our hospitality division will be run entirely by Chef Eddie G and his team of pros," said Ritchie. "Any revenue generated will be consolidated onto IFLM's balance sheet. We are determined to return value to the shareholders."
About Independent Film Development Corp.
Based in Irvine, California, Independent Film Development Corporation is developing a multi-pronged approach to commercial real estate acquisition, hospitality management and digital content creation.
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information contact:
C. David Pugh
CCO of IFLM
914-763-3229
DaveP@IndyFilmCorp.com
SOURCE: Independent Film Development Corp.