SAN ANTONIO — Tootie Pie Company, Inc. (OTCBB:TOOT) announced that Dawson Holdings, LP, has invested an additional $600,000 in the Tootie Pie Company, Inc., taking their equity stake from 15% to 25%. The investment was made pursuant to a previously executed Warrant Agreement that was part of their original investment, announced in August, 2010.
“We are pleased with the Company’s progress and decided to make this additional investment,” said Vincent Dawson. “We remain excited about the future and look forward to continuing to work together with management to take advantage of the opportunities that lie ahead.”
“We are very appreciative of the way Vincent and Jim have rolled up their sleeves and worked with us from day one,” said Don Merrill, President & CEO. “There are a lot of opportunities out there, and these men will be critical in helping us evaluate and execute our growth plans.”
Terms of the transaction are available in the Company’s 8K, which was filed today with the U.S. Securities and Exchange Commission.
About Dawson Holdings, LP
Brothers Berkley and Vincent Dawson created Dawson Holdings, LP, as a specific investment company for the purpose of identifying and investing in select opportunities in South Texas. The brothers have an established track record of success, having owned and operated the local Anheuser-Busch and Grupo Modelo distributorships, where they grew the market share from 27% to just over 60%, until its sale in 2007. They have broad wholesale and retail experience and their investment portfolio focuses on opportunities in these areas. In addition to their brand building expertise, the Dawsons have a history of supporting a broad range of local businesses and non-profit groups.
About Tootie Pie Co.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafés, in-store sales, orders via telephone and internet on the Company’s website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and then resell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the NASDAQ OTC market under the symbol “TOOT.” For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," and "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
Source: Tootie Pie Co.