SOURCE: Cafe Serendipity Holdings, Inc.

Cafe Serendipity Holdings, Inc.

July 21, 2015 06:00 ET

Cafe Serendipity Holdings, Inc. Announces Signing License Agreement to Open Flagship Store in Oregon

HENDERSON, NV--(Marketwired - Jul 21, 2015) - Café Serendipity Holdings, Inc. (OTC PINK: CAFS) (the "Company"), is pleased to announce the signing of a license agreement to open a recreational use marijuana flagship store in Oregon. Our licensee has paid the one time fee of $50,000 and has agreed to 10% monthly fee of gross revenues for the term of the agreement. Dennis M. Johnson, the licensee, stated, "I would like to move aggressively to open the flagship store in Eugene and additional Café Serendipity stores in Salem then Portland as soon as possible." We have engaged our strategic partner Herbfront, www.herbfront.com, to find the right retail location in Oregon. Also we are consulting with the law offices of Marc L. TerBeek, a leading authority in the legal cannabis industry to assist our licensees. Café Serendipity will use all of its strategic relationships from real estate, legal, human resources and product sourcing to put the store together from the ground up to fit our business model and use our proprietary store design that is represented on the website. The store size will be 2,500 to 3,000 square feet and will generate approximately $3 million per year in revenues.

"We expect to sign other licensees over the next few months to open additional flagship stores from the ground up in other markets," said Bob McNulty, Chairman of Café Serendipity. "We also see e-commerce opportunities within the legal marijuana space that the company is exploring."

"Café Serendipity has positioned itself for the legalization of recreational use stores to come on-line in 2016 for California. We believe that the regulatory environment between the Federal and States needs to improve so there is clarity between them that is conducive to building businesses with the proper banking foundation, card processing and real estate acquisition model that allows fundamental growth. We are very confident that these issues will be resolved by the regulatory bodies. This would allow for a more transparent growth strategy for the legal marijuana industry and the expansion of our business model."

About Café Serendipity Holdings, Inc. 

Based in Henderson, Nevada, Café Serendipity Holdings, Inc. owns and operates Café Serendipity. The Company is a builder of upscale branded turnkey retail stores in the recreational adult use, and medical marijuana dispensary industry. The Company is marketing its unique brand and product lines through a coast to coast licensing network of Company approved stores and growers. The licensed stores and growers benefit from Café Serendipity's proprietary technology solutions, quality control sciences to the growers, ERP/POS systems and a growing list of tier 1 brands and vendors. The Company currently markets to the approximately 6,000 existing legal recreational adult use and medical marijuana dispensaries in the USA. 

Safe Harbor: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Café Serendipity, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Café Serendipity Holdings, Inc. ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Café Serendipity Holdings, Inc. filings with the OTC Markets, Securities and Exchange Commission and/or the Company's website.