Gourmet Provisions International Corp. (GMPR) Announces they have Signed Lock-Up Agreements with their Noteholders
Gourmet Provisions International Corporation (OTC PINK:GMPR) has announced a Lock-Up Agreement with its Noteholders, restricting them to convert up to eight million common shares until August 31, 2021. CEO James Vowler highlighted the company’s ongoing restructuring, including a reduction of authorized shares to 275 million and plans for an S1 filing and uplisting to NASDAQ. The current share structure includes about 55 million shares issued, with strong revenues of $233,000 profit reported in Q3 2020. GMPR continues to develop partnerships and launch new gourmet products.
- Signed Lock-Up Agreements with Noteholders to limit conversion to eight million shares until August 31, 2021.
- Reduced authorized shares to 275 million, improving share structure.
- Reported profit of $233,000 in Q3 2020, indicating strong financial performance.
- Plans for uplisting to NASDAQ, which could enhance market visibility.
- Current financial commitments and uplisting plans involve risks and uncertainties.
- Dependence on successful S1 filing and NASDAQ approval, which are not guaranteed.
PITTSBURGH, PA / ACCESSWIRE / February 10, 2021 / Gourmet Provisions International Corporation (OTC PINK:GMPR) today announced they have signed Lock-Up Agreements with their Noteholders. The Lock-Up Agreement limits each Noteholder to convert a total of eight million common shares until August 31, 2021, the estimated time it will take Gourmet Provisions Int. Corp. to conduct its: Audited Financials; S1 filing; sign an Underwriter and qualify and complete the Uplisting to the NASDAQ stock exchange. GMPR has posted the complete Lock-Up Agreement in an 8K filing.
James Vowler President & CEO of Gourmet Provisions International Corp. stated, "Last week we continued the process of restructuring GMPR by lowering the Authorized Shares to 275 million, we have now signed lock-up agreements with our noteholders (or bought out their notes) limiting them to convert eight million shares until the end of August (full lock-up details are in our 8k filing). With the assistance of trusted groups that have recently gone through the process of uplisting to NASDAQ, we have interviewed the recommended prep auditors and complete audit companies. We anticipate signing agreements with both services this week and will formally announce the deals and anticipated timelines shortly thereafter."
About Gourmet Provisions International Corporation:
Gourmet Provisions International Corp. brought on Jack Brewer as GMPR's Brand Ambassador & Brewer Media & Entertainment Group in October of 2017. Brewer Media Group was brought on to help build all aspects of the many Gourmet brands. With a primary focus on the increase of online and retail sales, social media presence and overall content, public persona and awareness, acquire acquisition opportunities and much more. The company has five wholly owned subsidiaries Jose Madrid Salsa, Pizza Fusion, Unique Tap House, Unique Foods CBD Edibles & PopsyCakes and has a Licensing agreement with Christopher Street Products.
Company Share Structure and Financials
In addition, we want to update shareholders regarding our existing share structure, etc. The current total shares issued and outstanding for Gourmet Provisions International Corp. (GMPR) is approximately 55 million, with 15+ million restricted and 40 million in the public float; 2020 3rd quarterly financials posted onto the OTC in December with strong revenues,
Gourmet Provisions International has also developed a partnership with a NY Times Best Selling Author & Popular Comedian to help establish and launch a Gourmet line of food products starting with his own personal line of Pancake Mix & Syrup all under his custom brand (exciting full details coming in a press release soon).
Pizza Fusion Gourmet Provisions International Corp. acquired the multi award winning Pizza Fusion brand, with existing locations in the US & Saudi Arabia, in March, 2019.In 2006, Pizza Fusion changed the pizza industry with its award winning organic, gluten-free delicious healthy pizzas, with a big emphasis on every product and location keeping to the company's motto ‘Saving the Earth one Pizza at a Time!'.
GMPR announced earlier in December the launch of three Gourmet restaurant quality frozen pizzas under the Pizza Fusion brand:
The "Four Cheese" Pizza starts with our custom rich tomato sauce made from premium quality tomatoes & extra virgin olive oil, topped with real Mozzarella, Romano, savory Asiago and our hearty Parmesan cheeses all of this baked on top of OGGI Foods award winning, custom, gluten-free Spinach Crust;
The "Founders Pie" Pizza is topped with our custom made pizza sauce, extra virgin olive oil, Oregano, Basil, real Mozzarella, Romano, Asiago & Parmesan cheeses, imported cherry tomatoes from Italy, diced red onions, fresh spinach on top of OGGI Foods custom gluten-free Broccoli Crust;
"The Vegan" Pizza is what is for dinner if your family is looking for a restaurant quality, healthy, gluten-free vegan pizza, our new "The Vegan" pizza checks all of the boxes! This scrumptious pizza comes with our fresh tomato sauce, imported from Italy Grilled & Fire Roasted Zucchini, Eggplant, Red & Yellow Peppers, diced White Onions & Tomatoes, Beyond Meat Plant based Beef & Sausage Crumbles, topped with our signature Vegan Mozzarella & Parmesan Cheeses, all of this deliciousness on top of OGGI Foods custom gluten-free hand stretched Beets Crust.
PopsyCakes "The First & Only Cupcake on a Pretzel" debuted their new PopsyBites on Fox News Channel's popular show "The Five" and the new bite size gourmet treat has been a big hit ever since in retail. The company signed a 50/50 partnership deal with a Pittsburgh based
Christopher Street Products "Supporting the LGBT Community" sold out 15+ Unique products in HomeGoods, Wine Enthusiasts Magazine rated the Christopher Street Cabernet Sauvignon an outstanding 90, added distribution through Winelife Distributors NYC. Gourmet Provisions is partnering with a world-renowned cosmetic manufacturer to produce an exclusive line of high-end lipstick (exciting full details in a press release soon).
Jose Madrid Salsa "The Healthy Fundraiser" has continued to dominate in the fundraising category, expanded its Ohio offices & production facility, recently purchased a custom delivery vehicle and will be expanding into many retail outlets throughout the US & Canada (shareholders will be given more updates on this food brand soon).
Twitter:
@PizzaFusion
@GourmetProvInt
@MadridSalsa
@PopsyCakes
@UniquePizzaTapH
@ChristopherS_T_
Instagram: instagram.com/gourmet_provisions_int
Websites:
Gourmet Provisions Int. Corp.: http://www.GourmetProvisionsInternational.com
Jose Madrid Salsa: http://www.JoseMadridSalsa.com
Christopher Street Products: https://i09321.wixsite.com/christopherstreetnyc
Safe Harbor Act: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward- looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions. There are no financials in this press release so this is not needed and undermines the release.
For Gourmet Provisions International Corp. Investor Relations contact: InvestorInformation@UniqueFoods.Co
SOURCE: Gourmet Provisions International Corp.
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FAQ
What is the significance of the Lock-Up Agreement announced by GMPR on February 10, 2021?
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