$BLUU pre-market updates to shareholders -on Pace
Post# of 63696
Posted On: 02/10/2014 8:11:20 AM
$BLUU pre-market updates to shareholders -on Pace With Its Blue Water Bar & Grill(TM) Restaurants
CANTON, Ga., Feb. 10, 2014 (GLOBE NEWSWIRE) -- Blue Water Global Group, Inc. (OTCBB:BLUU) is providing this Blue Water Bar & Grill(TM) status update to its shareholders within the scope of applicable non-disclosure agreements and Regulation FD. As previously disclosed, Blue Water is continuing its negotiations for two restaurant locations on St. Maarten, both of which are beachfront. Below are additional details about each prospective location:
Location 1 (New Construction):
-- Approximately 150 seats
-- Currently negotiating concept details and long-term land lease with
landowner
-- Landowner retained an architectural firm to prepare Blue Water Bar &
Grill(TM) blueprints for the site
-- Projected to be open in Q4 2014 around the beginning of the 2014 "high
season"
Location 2 (Existing Building):
-- Approximately 100 seats
-- Minimal renovations required (estimated one month of construction time)
-- Negotiations for long-term lease are continuing
-- Projected to be open in Q2 2014
The name, location and photos of each restaurant location will be released as soon as formal agreements have been executed with each landowner. Blue Water believes it has sufficient personnel identified and financing sources available to open both restaurant locations.
Blue Water's President and CEO, J. Scott Sitra, stated, "We are working diligently to secure both complementary premium restaurant locations in St. Maarten for our Blue Water Bar & Grill(TM) concept. In both instances we are negotiating with large, multi-national public entities, which have vision and potential of our mutual relationships." Mr. Sitra added, "It is important to note that the landowner of the undeveloped beachfront lot has retained an architectural firm at their expense to draft the Blue Water Bar & Grill(TM) blueprints tailored to this site, which speaks volumes about our concept and business direction. We have already met with the architectural firm and they have begun the drafting process pursuant to our design specifications."
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