Vancouver, British Columbia--(Newsfile Corp. - September 2, 2021) - Canadian Nexus Team Ventures Corp. (CSE: TEAM) ("Canadian Nexus" or the "Company")is pleased to announce that it has created Wooden Table Hospitality Corp. ("Wooden Table") as a wholly owned subsidiary to hold its hospitality focused investments. Wooden Table will identify opportunities and management teams that have operating models that meet their stringent investment guidelines with the goal of expansion within the Canadian marketplace that suffered greatly during the Covid 19 Pandemic.
The Wooden Table subsidiary will eventually add multiple investments, each having their own dedicated management teams. Wooden Table will invest and divest certain interests in its subsidiary companies in order to maximize the value potential.
Wooden Table will be led by Sean Davis, who brings to Wooden Table Hospitality, a wide range of over 30 years of hospitality experience and knowledge, including, marketing, business development, operations and controls. Most recently Mr. Davis worked with the worlds 3rd largest pizza chain in Franchise Operations, technology rollouts, new revenue stream implementation, and business development.
Wooden Table is pleased to announce that it has signed a Share Purchase Agreement (the "Share Purchase Agreement") with Gringo Restaurants Inc ("Gringo") to acquire 100% of the shares in the capital of Gringo (the "Gringo Shares") from the shareholders, resulting in Gringo becoming a wholly-owned subsidiary.
Located in historic Gastown, Vancouver, Gringo has been in operation since October 8, 2013. Gringo has won several awards for its atmosphere, location and food. Gringo uses a commissary kitchen to create and prepare its offerings and finishes them for service at the location. A full-service restaurant with a quick service twist.
"I am truly excited about this new division and specifically the Gringo brand. Since opening Gringo has resonated with consumers and the model in this new world is perfect for further investment," stated Arni Johannson CEO. "Mr. Davis has demonstrated he has a keen eye for investment in this space and knows what he's looking for. This transaction speaks to our new vision as we look to diversify and build EBITA focused opportunities."
About Canadian Nexus Team Ventures Corp.
Canadian Nexus (CSE: TEAM) is an investment issuer that actively invests in a diversified portfolio of early-stage to mid-level companies and projects. Canadian Nexus leverages its extensive network of operators and global thought leaders to provide investors with a unique multi-opportunity portfolio.
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements the timing, consideration, and completion of the joint venture are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the completion of the Acquisition, the anticipated business plans and timing of future activities of the Company, including the Acquisition, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining regulatory approvals (including of the Canadian Securities Exchange), changes in laws, regulations, and policies affecting the Company's operations and the Company's limited operating history.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release
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