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GRILLiT executes master franchise agreements for Texas, Arizona

April 1, 2014

GRILLiT today announced that it has awarded master franchise rights to Texas Expansion Wing Group to open in Texas and Arizona. The rights were obtained for a total cash consideration of $200,000, which the company will book to its revenue in the first quarter of this year, plus an ongoing 4 percent royalty commitment on all gross revenues and a $12,500 up-front fee for each franchised location established in these territories, according to a company press release.

"This is a big leap forward for the company for several reasons," said CEO Ghazi Hajj. "First, this represents the company's first initiative in the southwestern United States; Texas and Arizona are the most logical states to commence franchise operations in this region. Second, we are very fortunate to have a master franchisee the caliber of The Texas Expansion Wing Group. We believe they are the perfect operator to carry out this program, mainly because they have a proven track record of establishing and supporting restaurant franchise owner/operators."

As announced on March 18, 2014, the company changed its name from Grillit Inc. to Healthy & Tasty Brands Corporation and is in the process of effectuating the name change with FINRA. Healthy & Tasty Brands Corporation, is a company that holds interests in restaurants and food-related entities that are focused on healthy, natural and nutritional foods.