MIAMI, Fla., April 30, 2014 /PRNewswire/ -- Power Pizzeria, featuring pizza with low-carb dough (http://www.powerpizzeria.com), announced today it has entered into an agreement with Energy Edge Technologies Corporation (OTCQB: EEDG) to acquire a 49% stake in the pizza company.
While specific terms are being negotiated, Power Pizzeria management said the transaction is anticipated to close in the second quarter of 2014, subject to customary closing terms and conditions.
The Power Pizzeria system includes six units with one additional restaurant in development. All units are located in Miami. "Power Pizzeria provides an instant franchising platform to support our growth initiatives," said James Boyd, EEDG's Chief Executive Officer. "We anticipate utilizing our co-branding expertise and top level foodservice connections to gain access for our brands into high profile locations."
"Boyd has a proven track record of success and deep expertise in the restaurant and franchise sectors that will be very beneficial as Power Pizzeria continues to grow and expand the brand," said E.J. Martinez, Power Pizzeria's founder and President.
About Power Pizzeria Inc.
Power Pizzeria, Inc. is a privately held company that has developed a great-tasting pizza low in calories. The dough is made fresh daily with no additives or fillers. Sauce is organic and made with no added sugar. Pizza is served with a variety of offerings such as chicken wings, pastas, meatballs and salads.
Energy Edge Technologies Corporation is a public holding company and parent of Energy Edge Solutions and The Gourmet Chicken Company, an emerging restaurant company. EEDG is focused on acquiring and partnering with emerging restaurant concepts in the fast casual and quick service arena. A 14c has been filed to change the name to reflect our focus on building and acquiring restaurants.
The Gourmet Chicken Company is a new fast casual restaurant concept positioned in the "Better Chicken" category. Products are fresh, never frozen, marinated, battered and breaded chicken products fried in 100% peanut oil.
Forward Looking Statements:
This release contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve risks and uncertainties. The factors that could cause actual results to differ materially from expectations are detailed in the Company's filings with the Securities and Exchange Commission, such as its annual and quarterly reports and current reports on Form 8-K.
SOURCE Energy Edge Technologies Corporation