WCVC Expands in $780 Billion Fast Casual Dining Sector With New Illegal Burger Location and Cannabis-themed Restaurant Partnership
DENVER, Colorado, November 8, 2018 /PRNewswire/ --
West Coast Ventures Group Corp. (OTCQB: WCVC) ("Company"), parent company of fast-casual dining concept Illegal Burger, offering hand-crafted burgers + bar and fast-casual Mexican restaurant chain El Senor Sol, announced today that it has opened its fifth Denver area Illegal Burger location at 652 S. Colorado Blvd in Glendale, Colorado. The fast-casual sector currently accounts for approximately $780 billion in annual sales.
The total completion time for this location from signing the lease to opening for business was only 90 days. This is in line with Illegal Burger's Rapid Restaurant Buildout Model which allows the company to get new locations up and running quickly. This model combines its commitment to sustainable design with a modular approach which results in a lower buildout cost and a greater speed to revenue for each new location. This approach shortens the journey from the initial investment to profitability and will likely become the preferred model for the restaurant industry in the future.
Commenting on the new location, WCVC Founder and CEO Jim Nixon said, "We are delighted with the speed of the buildout of this new location and further proving the value of our Rapid Restaurant Buildout Model. And for the short time this location has been open, we are pleased that the revenue run rate is exceeding our projections. We believe that our pioneering approach will bring incredible additional value to our customers and shareholders."
The Company is also optimistic about the prospects for its concept cannabis themed restaurant partnership recently announced with North American Cannabis Holdings, Inc. (USOTC: USMJ) ("USMJ"). USMJ last week announced the spinoff of its AmeriCanna Cafe restaurant business. USMJ management remains in control of the spinoff company now independently listed under the ticker symbol USOTC: PJET. USMJ shareholders are receiving a dividend of PJET stock as part of the spinoff transaction. WCVC management is considering an equity stake in the AmeriCanna Cafe to potentially include a stock dividend to WCVC shareholders similar to the pending stock dividend planned for USMJ shareholders.
About West Coast Ventures Group Corp.
Based in Denver, Colo., West Coast Ventures Group Corp. (WCVC) develops, owns and operates two contemporary restaurant concepts: Illegal Burger, a quick-casual burger + bar concept, and El Señor Sol, a full-service fresh Mexican restaurant (5 restaurants in the Denver Colorado area). Led by seasoned restaurant entrepreneurs, WCVC management is committed to scaling both modern sustainable concepts into national franchise models operating metro-styled restaurants serving only the finest and freshest natural ingredients.
This document may contain forward-looking statements, relating to West Coast Ventures Group Corp operations or to the environment in which it operates, which are based on West Coast Ventures Group Corp operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond West Coast Ventures Group Corp control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. West Coast Ventures Group Corp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE West Coast Ventures Group Corp.