SOURCE: Greenfield Farms Food, Inc.

March 04, 2014 08:15 ET

Greenfield Farms Food Announces Completion of Financing for Carmela's Pizzeria to Fund the First Phase of Its National Franchising Program

WEST PALM BEACH, FL--(Marketwired - Mar 4, 2014) - Greenfield Farms Food, Inc. ("Greenfield" or the "Company") (OTCQB: GRAS) announced today that it has closed the financing round for use in funding completion of the first phase of Carmela's Pizzeria's national franchising program. The initial phase of the national franchising program is development of the Franchise Disclosure Document ("FDD"), the legal document presented to prospective franchise buyers in the presale process. This funding will assure the FDD will be completed on a timely basis.

In addition, candidate review and screening for a national franchise director is continuing and an announcement is expected in the near term. The Company is also working to complete the franchise operating system, collateral marketing materials and other supporting legal documentation.

Ron Heineman, Chairman and CEO of the Company and Carmela's Pizzeria, said, "We are pleased to have completed this financing, which was critical to assure we had the funding in place to pay the costs involved with timely completing the FDD. We are now free to move expeditiously with that process without any financial impediments."

About Carmela's Pizzeria
Carmela's presently has four Dayton, Ohio area locations offering authentic New York style pizza. Carmela's offers a full service menu for Dine In, Carry out and Delivery as well as pizza buffets in select stores. Carmela's has been noted in Dayton Daily News as one of "The Best Pizzerias" in Dayton. Visit the Carmela's website at: www.carmelasohio.com

About Greenfield Farms Food, Inc.
Greenfield is a publicly-traded nominally capitalized company operating through its wholly-owned subsidiary Carmela's Pizzeria CO, Inc. through the Carmela's Pizzeria Dayton restaurant locations that include pizza buffets, alcohol service, delivery and carry-out depending on the location; and has previously been a limited producer and marketer of "grassfed" beef that supplied a North Carolina based grocer.

Safe Harbor for Forward-looking Statements

This news release may contain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.

Contact Information

  • Contact Information:
    Greenfield Farms Food, Inc.
    Henry Fong
    CFO
    (561) 373-8104