Nightfood
Signs Letter of Intent to Acquire Los Angeles Cooking School,
Integrating Automation and Robotics with World-Class Culinary
Training
TARRYTOWN,
N.Y. -- October 1, 2024 -- InvestorsHub NewsWire
-- Nightfood Holdings, Inc.
(OTCQB:
NGTF), an acquisition and development holding company,
announces today that it has signed a Letter of Intent (LOI) to
acquire Stratford Education Group Inc., doing business as the Los
Angeles Cooking School.
The Los Angeles
Cooking School is renowned for its exceptional culinary training
and education programs. Course offerings are being expanded to
include state-of-the-art training for hospitality and food service
operators wanting to leverage robotics and automation
solutions.
The vision is to
establish the Los Angeles Cooking School as the world-class leader
in integration of food preparation automation, robotics and
artificial intelligence (AI). This powerful synergy is what
management envisioned when the initiative to acquire both Future
Hospitality and Los Angeles Cooking School was conceived in late
2023.
The
Robotics-as-a-Service business model of Future Hospitality is a
unique and robust approach to lowering the barriers of entry to
automation within the foodservice, restaurant and hospitality
industry. By providing training for integration and implementation,
Nightfood's vertical integration can provide a competitive
advantage in this fast-growing space.
Sonny Wang,
CEO of Nightfood Holdings, Inc., commented: "The acquisition
of the Los Angeles Cooking School marks an important milestone in
our growth strategy. We see tremendous leverage in pioneering a
platform where culinary education meets the future in automation
technology. By making it easier to integrate automation, AI and
robotics, we will empower food entrepreneurs to launch and scale
the technology needed to survive and thrive in the marketplace of
the future."
Christopher
Becker, president of Stratford Education Group, shared: "Human creativity and
touch will never disappear. But automation, robotics and AI are a
major part of the future of the culinary arts. Working with Future
Hospitality the Los Angeles Cooking School will deliver world-
class training in this new space, allowing Nightfood to provide an
end-to-end solution unmatched in the industry."
The transaction is
subject to customary closing conditions, including the execution of
definitive agreements and necessary regulatory
approvals.
About
Nightfood Holdings, Inc.
Nightfood Holdings
Inc. (OTCQB:
NGTF) is a forward-thinking holding company dedicated to
identifying and capitalizing on explosive market trends within the
hospitality, food services, consumer packaged goods and commercial
real estate sectors. Our mission is to create unparalleled upside
potential in industries ripe for innovation and growth by leading
newly emerging categories and seizing opportunities in markets
undergoing transformational upheaval.
Through our
subsidiary, Future Hospitality Ventures Holdings, Inc., we are at
the forefront of introducing and deploying AI-enabled robotics
products, revolutionizing operational efficiencies and customer
experiences across restaurants, foodservice operations, and
hospitality on a Robotics-as-a-Service model.
About
Stratford Education Group, Inc. dba Los Angeles Cooking
School
The Los Angeles
Cooking School is a world-class culinary education institution.
With a focus on hands-on learning and practical skills, the school
has earned a reputation for excellence in culinary training and
education in recent years. That reputation and experience will be
applied to training in robotics, automation, and AI as the future
of the culinary arts.
Forward-Looking
Statement Disclaimer
This press release
contains forward-looking statements, as that term is defined in the
Private Litigation Reform Act of 1995, that involve significant
risks and uncertainties. Forward-looking statements can be
identified through the use of words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates," "guidance," "may," "can," "could", "will", "potential", "should,"
"goal" and variations of these words or similar expressions.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which reflect Nightfood's current
expectations and speak only as of the date of this release. Actual
results may differ materially from Nightfood's current expectations
depending upon a number of factors. These factors include, among
others, adverse changes in general economic and market conditions,
competitive factors including but not limited to pricing pressures and new product introductions,
uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the
business. Except as required by law, Nightfood does not undertake
any responsibility to revise or update any forward-looking
statements whether as a result of new information, future events or
otherwise. More detailed information about Nightfood and the risk
factors that may affect the realization of forward-looking
statements is set forth in Nightfood's filings with the Securities
and Exchange Commission ("SEC"). Investors and security holders are
urged to read these documents free of charge on the SEC's website
at http://www.sec.gov.
Media
Contact:
Contact:
Nightfood Holdings
Inc. Media Relations
Email: media@nightfood.com Phone: (886)
261-7778
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