Bros Signs $12M Letter of Intent With HK Investment Firm
November 12 2010 - 9:00AM
Bros Holding Company (Pink Sheets:BSHG), a Shanghai based media
publisher, has entered into a letter of intent with a Hong Kong
based Investment Group. Funds will allow management to develop
their business model.
Definitive plans with the Investment firm will be
announced before the Chinese New Year.
Pledged funds will allow Bros Holding Company to
operate as a joint-stock Company and "roll in" 11 established
Japanese restaurants under the leading flagship brand "Hezuomei".
Based on operations of their premier restaurant location in the
resort town of Suzhou, the company feels confident that the
restaurants will be accretive to earnings within the first 6 months
of operation.
Liming Peng, CEO stated, "We are firmly established
as a cutting edge Media Company catering to the Japanese/Chinese
establishment. By rolling in a restaurant/hospitality
division, we feel that we are able to create a premium brand that
caters to both cultural groups while being beneficial to our bottom
line."
Funds from the Investment Group will be used to
"roll in" 11 targeted restaurants and establish 24 new Japanese
restaurants chains in the Shanghai and the Yangtze River delta from
2011 to 2013. Future plans also include a Japanese catering
group chain that will be established by the end of 2013.
Funding is also allotted to allow Bros to establish
a high-end Japanese cuisine hotel management/ training technical
school, creating a supply of professional servers, executive chefs,
and cuisine researcher from a logistic base of Bros Catering Group.
The school will train up 200-500 qualified trainees as service of
talents for its company per year, meanwhile, dispatch professional
personnel to Japanese catering companies in Shanghai and Yangtze
River delta.
About Bros Holding Company
Located in Shanghai, Bros Holding Company provides consumer
entertainment and information media to Japanese speakers in Asia.
The Company focuses on catering to Japanese travelers and expats
that reside in China. Through its five publications, the company
has a consumer base of affluent and niche consumers. For more
information, please visit www.bros-web.com
Legal Disclaimer
The statements contained in this press release contain certain
forward looking statements, including statements regarding the
company's expectations, intentions, strategies and beliefs
regarding the future. All statements contained herein are based
upon information available to the company's management as of the
date hereof, and actual results may vary based upon future events,
both within and without the control of the company's
management.
CONTACT: Bros Holding Company
Investor Relations
Richard Oravec
212.924.3548
rick@vircomglobal.com