Debt fully paid off: Giggles N’ Hugs Announces f
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Posted On: 02/16/2017 9:02:43 AM
Debt fully paid off: Giggles N’ Hugs Announces full Debt Conversion with Iconic
GLOBENEWSWIRE 9:00 AM ET 2/16/2017
Symbol Last Price Change
GIGL 0.022down 0 (0%)
QUOTES AS OF 03:47:43 PM ET 02/15/2017
Los Angeles, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc., owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, is pleased to announce that the Company has repaid its 8% Convertible Note issued to Iconic Holdings, LLC (Iconic) on December 21, 2015, and as later amended. Pursuant to the terms of the convertible note, over the past six months Iconic converted $191,000 into shares of common stock.
“We are pleased that Iconic converted the entire balance of their convertible debt holdings into common shares of our Company. With most if not all of the shares converted and sold over the past six months, we anticipate that this will result in a decrease of continued selling pressure on the Company's securities,” commented Joey Parsi, founder and Chief Executive Officer of Giggles N’ Hugs.
“This is yet another important step forward for us as we move ahead on our plans to expand. “ The company is speaking with a number of investment banks to engage in order to secure more traditional financing options for the needed expansion capital, Parsi continued. With the Iconic note out of the way, we are very much looking forward to a great 2017 and beyond.
About Giggles N’ Hugs
Giggles N' Hugs (GIGL) is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs(GIGL) location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
GLOBENEWSWIRE 9:00 AM ET 2/16/2017
Symbol Last Price Change
GIGL 0.022down 0 (0%)
QUOTES AS OF 03:47:43 PM ET 02/15/2017
Los Angeles, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Giggles N’ Hugs, Inc., owner and operator of family-friendly restaurants that bring together high-end, organic food with active, cutting-edge play and entertainment for children, is pleased to announce that the Company has repaid its 8% Convertible Note issued to Iconic Holdings, LLC (Iconic) on December 21, 2015, and as later amended. Pursuant to the terms of the convertible note, over the past six months Iconic converted $191,000 into shares of common stock.
“We are pleased that Iconic converted the entire balance of their convertible debt holdings into common shares of our Company. With most if not all of the shares converted and sold over the past six months, we anticipate that this will result in a decrease of continued selling pressure on the Company's securities,” commented Joey Parsi, founder and Chief Executive Officer of Giggles N’ Hugs.
“This is yet another important step forward for us as we move ahead on our plans to expand. “ The company is speaking with a number of investment banks to engage in order to secure more traditional financing options for the needed expansion capital, Parsi continued. With the Iconic note out of the way, we are very much looking forward to a great 2017 and beyond.
About Giggles N’ Hugs
Giggles N' Hugs (GIGL) is the first and only restaurant that brings together high-end, organic food with active, cutting-edge play and entertainment for children. Every Giggles N' Hugs(GIGL) location offers an upscale, family-friendly atmosphere with a dedicated play area that children 10 and younger absolutely love. We feature high-quality menus made from fresh and local foods, nightly entertainment such as magic shows, concerts, puppet shows and face painting, and hugely popular party packages for families that want to do something special.
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