Los Angeles, April 11, 2018 (GLOBE NEWSWIRE) --
Giggles N’ Hugs, Inc. (OTCQB: GIGL) (the “Company”), owner and operator of family-friendly
restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, is pleased to
announce its founder, Joey Parsi, has participated in the Company’s rights offering.
“We’re thankful for the strong interest from investors in our rights offering. Nearly 200 shareholders have
subscribed so far, and I’m pleased to join them,” stated Joey Parsi, founder of Giggles N’ Hugs. “This is a ground-floor
opportunity potentially on par with what early investors experienced in major restaurant brands such as Shake Shack, Cheesecake
Factory, and BJs, who’ve reaped significant gains as these companies entered their explosive growth phase. With your help, we’re
positioning Giggles N’ Hugs for an exciting future.”
Coinciding with the closing of the rights offering, Philip Gay, former CFO of California Pizza Kitchen and
former CFO and CEO of Wolfgang Puck Food Company, is expected to assume the position of CEO of Giggles N’ Hugs and will join its
Board of Directors. Mr. Gay most recently served as the Company’s Chief Business Development Officer and brings nearly three
decades of industry-related senior executive experience to Giggles N' Hugs.
The subscription period for the Company’s rights offering is scheduled to expire on Monday, April 16, 2018 at
5:00 PM ET. Shareholders of record (those that owned Giggles N’ Hugs common stock as of the close of trading on February 27, 2018)
should contact their broker or financial advisor regarding the processing of their subscriptions prior to expiration of the rights
offering.
Shareholders of record received two non-transferable subscription rights for every one share of common stock
owned on the Record Date and may participate in the rights offering. Each subscription right entitles the holder to purchase
one unit for $0.03 per basic subscription right and additional units via the over-subscription privilege. Each unit consists of one
share of GIGL common stock and 0.70 of a five-year warrant from the time of issuance. Each whole warrant will be exercisable for
one share of GIGL common stock for $0.06 per Warrant. Holders who fully exercise their basic subscription right will be entitled to
purchase additional units via the over-subscription privilege (should any of the offering remain unsubscribed at the expiration of
the Subscription Period).
The rights offering is being offered pursuant to the Company’s effective registration statement on Form S-1 as
amended (Reg. No. 333-220302) on file with the U.S. Securities and Exchange Commission (the “SEC”). The offering can be made only
by a final prospectus. Investors should consider investment objectives, risks, charges, and expenses carefully before investing.
The prospectus included in the registration statement contains this and additional information about the Company and the rights
offering, and rights holders should carefully read the prospectus before exercising their rights and investing. The prospectus may
be found by clicking on the following link:
https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001381435&owner=exclude&count=40&hidefilings=0
Please direct your request for copies of the prospectus to Mackenzie Partners at
(800) 322-2885 or rightsoffer@mackenziepartners.com.
About Giggles N’ Hugs
Giggles N' Hugs is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and
entertainment for children. Every Giggles N' Hugs location offers an upscale, family-friendly atmosphere with a dedicated play area
that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment
such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do
something special.
Forward Looking Statements:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws.
Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast,"
"project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are
forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not
be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These
forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties,
including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC").
Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements
whether as a result of new information, future events or otherwise, except as required by law.
INVESTORS RELATIONS CONTACT: Bruce Haase RedChip Companies, Inc. 800.733.2447, ext. 131 bruce@redchip.com
