MELBOURNE BEACH, Fla., March 25, 2013 /PRNewswire/ -- Solanbridge Group, Inc. (OTC.PK: SLNX) is pleased to announce that its wholly owned subsidiary, David's Steak and Seafood Restaurant, an upscale steak house, has secured a funding source and engineering team to help complete its due diligence for the property located at 4445 Dixie Hwy NE in Palm Bay, Florida. The Company entered into a letter of intent to purchase Paisano's Restaurant, located at 4445 Dixie Hwy NE in Palm Bay, Florida. The Company is still on target to enter into a definitive agreement after its 45 day due diligence period and will be changing the name of the restaurant from Paisano's to David's On The River. The letter of intent includes a 2 year lease with the option to purchase all of the real estate and building at which Paisano's operates. Since the real-estate is directly on the Indian River, the Company will have several engineers surveying the property over the next three weeks in order to confirm the buildings and lands integrity. Barring any engineering set backs, the Company plans on entering into a definitive agreement within its 45 day due diligence period.
Solanbridge's management team is on target to host the Grand Opening of David's On The River on July 4, 2013.The price for the new property is $1 million and the purchase is contingent on the completion of due diligence and entry into a definitive agreement.
The Company will be updating its new restaurant with the addition of decks on the outside of the building to not only offer remarkable views of the Indian River for customers outside but give its customers a classy and sleek new look to the inside of its establishment. David's on the River will offer every table inside and outside its establishment direct views of the Indian River. Paisano's has been operating out of its current location for 35 years and David's On The River wants to create a one of a kind experience at its new one of a kind location.
"We are thrilled to moving forward with our due diligence and will do everything we can to enter into our definitive agreement and open our new restaurant to the public on July 4th," stated David Green, CEO of Solanbridge Group, Inc. "We are continuing our efforts to locate additional restaurant opportunities."
About Solanbridge Group, Inc.: Solanbridge Group, Inc. is an investment company and diversified holding company whose main business is purchasing revenue generating foreign and domestic private/public companies.
David's Steak and Seafood is a classic, upscale steak house, which presents fine dining in an atmosphere of timeless elegance, offering guests the finest cuts of choice USDA meats, fresh seafood, and much more. David's Steak and Seafood experience is all about providing superior service and classically prepared cuisine in a one of a kind setting.
SOURCE Solanbridge Group, Inc.