SCOTTSDALE, AZ--(Marketwire - Aug 20, 2012) - Tempco, Inc. (OTCBB: TEMO) ("Tempco" or "the Company") today announced that the Company has executed a Regional Developer Agreement ("the Agreement") and three franchise agreements with ESIO Franchising, LLC ("ESIO"). The Agreement covers the Dallas / Fort Worth region of Texas and three franchises therein.
The Dallas / Fort Worth region has a population of over 7.7 million people and over 2.8 million households. Upon the execution of the Regional Developer Agreement, Tempco paid to ESIO $250,000 in cash, including a credit of $70,000 from a payment made earlier in the year on a deposit agreement covering 10 other regions with ESIO.
"We are pleased to announce the execution of our first Regional Developer Agreement, under which Tempco has the exclusive right to operate and/or sell up to 50 Unit Franchises in the Dallas / Fort Worth ("DFW") area," stated Anthony Silverman, the Company's Chief Executive Officer. "We believe the demographics and financial profile of households in the DFW area are ideal for the ESIO hot & cold single-serve beverage system, and we are committed to providing our Unit Franchisees with all the tools necessary to assure outstanding service to consumers and businesses in the region. Wal-Mart's pending retail introduction of ESIO's countertop beverage system, which will complement the existing floor stand system, should greatly increase consumer awareness of the product and the rapidly expanding variety of proprietary and branded hot and cold beverages that can be delivered at the touch of a button. We believe the initial countertop product launch will also attract attention from potential Unit Franchisees in the DFW area."
Tempco expects to purchase, from ESIO Franchising, LLC (the franchising arm of ESIO Beverage Company), up to 10 additional regional territories under option agreements that expire September 1, 2013. In addition to the DFW area, the Company holds options to purchase regional franchise development rights in the additional ten (10) areas listed below:
San Antonio, Texas Metropolitan Area
Houston, Texas Metropolitan Area
State of Arizona
State of Colorado
Jacksonville, Florida Metropolitan Area
San Francisco Bay Area and Eureka, California
Sacramento, Reno and Chico, California
Orange County, California
San Diego and Imperial, California
NW Los Angeles, California (Ventura to San Luis Obispo)
About ESIO Beverage Company and ESIO Franchising, LLC
Headquartered in Mesa, Arizona, ESIO Beverage Company, through its subsidiaries, is focused on the development, manufacturing and marketing of multi-serve beverage dispensing systems and beverage products for the home and office. ESIO Beverage Company manages the company's retail, operational, and product development activities, and ESIO Franchising, LLC serves as the manager of franchise activities.
The revolutionary ESIO Hot & Cold Beverage System includes countertop and floor stand multi-serve beverage dispensers that conveniently offer any size (up to 108 ounces, or almost one gallon) hot and cold drinks at the touch of a button. ESIO's patented drop 'n drink E-Paks deliver perfectly blended national brand and private label juices, sports drinks, vitamin fitness waters, teas and coffees. The countertop unit will initially be available exclusively in Wal-Mart stores and through ESIO franchisees. More information on the ESIO Beverage System is available at www.esiobev.com. More information on ESIO franchises is available at www.esiofranchise.com.
About Tempco, Inc.
Tempco, Inc. has entered into a Regional Developer Deposit Agreement, wherein ESIO Franchising, LLC granted the Company an option to purchase up to 10 ESIO Regional Development Franchises in certain optioned areas, in addition to the DFW region. Regional Developers may, in their discretion, either sell products directly to consumers or sell franchise rights to specified territories as Unit Franchises.
Tempco, Inc. is headquartered in Scottsdale, Arizona, and its common stock trades on the OTC Bulletin Board under the symbol TEMO. Additional information is available on the Internet at www.sec.gov under the "Company Filings" section.
This release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created thereby. Such forward-looking statements include, but are not limited to, statements regarding the expected timing of the completion of the proposed transaction; the ability to complete the proposed transaction considering the various closing conditions; the expected benefits and costs of the proposed transaction; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing and other statements that are not historical facts. Although Tempco believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, no assurance can be given that these expectations will be attained or that the transactions will be completed, and it is possible that actual circumstances and results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. The completion of and benefits from the transactions are subject to certain risks and uncertainties, including satisfaction of the conditions to the completion of the business combination, receipt of any required approvals, risks related to the timing or ultimate completion of the transaction; the possibility that expected benefits may not materialize as expected; and other risk factors relating to Tempco's business as detailed from time to time in Tempco's reports filed with the U.S. Securities and Exchange Commission. Tempco undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is directed to Tempco's filings with the U.S. Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K and its annual reports on Form 10-K, for a discussion of such risks and uncertainties.