AMERGENT HOSPITALITY GRP - AMHG STOCK NEWS

Amergent Hospitality Group (OTCQB:AMHG) has successfully acquired Boudreaux's Cajun Kitchen, a Houston-based restaurant chain known for its Cajun cuisine. This acquisition, closed on March 28, 2023, adds four locations to Amergent's portfolio, bringing the total to 46 stores. The company aims to leverage Boudreaux's brand value and loyal customer base, which has been built over 24 years. CEO Mike Pruitt emphasized the strategic move to enhance growth outside the traditional 'Better Burger' concepts. Furthermore, Amergent has received forgiveness for $4.1 million in PPP loans and a $2.5 million equity investment, strengthening its financial position.

Amergent Hospitality Group (OTCQB:AMHG) has successfully closed a $2.5 million financing through the sale of Series B Convertible Preferred shares and associated warrants. The proceeds will fund the acquisition of Boudreaux's Cajun Kitchen and support future growth initiatives.

The financing involved 125 shares sold, convertible at $0.50 per share with a 12% annual cumulative dividend. CEO Mike Pruitt expressed optimism about the acquisition's positive impact on cash flow and earnings, aiming for completion in Q1 2023. Amergent operates multiple restaurant brands and has a strategic focus on regional growth.

Amergent Hospitality Group (OTCQB:AMHG) announced a purchase agreement to acquire Boudreaux's Cajun Kitchen, a Houston-based restaurant chain. This acquisition, expected to close in February 2023, aligns with Amergent's strategy to enhance its brand portfolio and expand its market presence. Founded in 1999, Boudreaux's operates four locations in Houston, specializing in Cajun cuisine. CEO Mike Pruitt emphasized the importance of regional growth brands and expressed optimism about the acquisition contributing positively to cash flow and earnings. The company has also received forgiveness for nearly $4.1 million in PPP loans, bolstering its financial position.

Amergent Hospital Inc. (OTCQB:AMHG) announced the adjournment of its 2022 Annual Meeting of Stockholders due to a lack of quorum. The meeting is now scheduled for January 13, 2023, at 4:00 PM Eastern Time and will be held virtually. Stockholders are encouraged to cast their votes on Proposals 1, 2, and 3 before the meeting, as these proposals have been classified as 'non-routine' by Broadridge. Without voting instructions, shares may be subject to 'broker non-votes,' which will not count towards the quorum requirement.

Amergent Hospitality Group (OTCQB:AMHG) has announced the grand opening of Jaybee’s Chicken Palace in Portland, Oregon, derived from the former Waddle’s location. This new establishment will provide both dine-in and take-out options, featuring gaming, cocktails, and hand-breaded chicken sandwiches. President Fred Glick expressed satisfaction with the opening, citing the supportive Jantzen Beach community. Amergent operates 42 restaurants, including company-owned and franchised locations, under various brands.

Amergent Hospitality Group (OTCQB:AMHG) has launched a national franchising campaign for its restaurant brand, Little Big Burger, led by Mark Whittle, the new EVP of Franchise and Development. Little Big Burger, founded in 2010, offers high-quality fast-casual dining with a focus on fresh ingredients and has gained a strong following in the Pacific Northwest. The company currently operates 42 stores, with plans for expansion in the U.S. and internationally, aiming for increased profitability and scale.

Amergent Hospitality Group (OTCQB:AMHG) has appointed Mark Whittle as its EVP of Franchise Development to drive rapid franchise growth. Whittle brings over 34 years of experience in developing restaurant locations globally, including roles at Hooters and HOA Brands. The company's recent third-quarter highlights show a 17.8% increase in same-store sales year-over-year and revenue growth from $3.96 million in 2020 to $4.66 million in 2021. Additionally, restaurant operating expenses declined from 76.5% to 60.2%. Amergent operates 43 stores across various brands.

Amergent Hospitality Group (OTCQB:AMHG) reported strong fiscal Q3 2021 performance with significant increases in same store sales, up 17.8% compared to Q3 2020 and 7.7% versus Q3 2019. Total revenue rose to $4.66 million from $3.96 million year-over-year. Notably, the successful acquisition of PizzaRev enhances growth potential, with operational expenses reduced from 76.5% to 60.2%. The company operates 43 locations, including 28 company-owned and 15 franchised. October 2021 sales growth continued at 10.1% year-over-year. Future expansion plans include reopening additional PizzaRev locations.

Amergent Hospitality Group Inc. (AMHG) announced its CEO, Michael Pruitt, will present a company overview at the Dawson James 6th Annual Small Cap Growth Conference on October 21 at 8:30 AM EST in Jupiter, Florida. The event will also feature one-on-one meetings with qualified investors. Amergent, based in Charlotte, NC, operates and franchises several restaurant brands including American Burger Company and PizzaRev. Investors interested in one-on-one meetings can arrange them through conference coordinators.