ATLANTA — US Highland, Inc. (OTC:UHLN) and Supreme Sweets, Inc. of Toronto (“Supreme”) have executed a Letter of Intent (“LOI”) that accelerates US Highland’s progress toward becoming a significant innovator in the U.S. restaurant and food sector. The LOI sets out the conditions of an acquisition by US Highland of substantial physical assets and North American retailer listings in the category of innovative baked goods and snack food. The LOI is mutually beneficial for US Highland shareholders and Supreme’s owners.
Shareholders of UHLN will benefit from the accretive value of substantial physical assets and intellectual property, with their associated business activity, while Supreme stakeholders will benefit from public market capitalization to pursue substantial business opportunities that are within Supreme’s reach, with adequate growth capital. The ability of Supreme to deliver revenue to UHLN through in-home consumption of food products deepens US Highland’s profit potential beyond restaurant food consumption. This readiness is a key factor in the suitability of both parties to the transaction; they are both able to contribute to the success of the other, immediately, for a shared purpose.
US Highland CEO, Everett Dickson explained today how this development fits into UHLN’s long term strategy. “This acquisition adds significant strength to the balance sheet and acts as a new arena in UHLN’s aggressive growth strategy. This addition dramatically increases our footprint, brings additional management and is accretive to our bottom line as well containing a well-developed catering and wholesale supplies business. The latest transaction strengthens our cash flow, diversifies our asset base and allows us to begin to consider the economy of scale through integration, not only when purchasing products and supplies but in the general administration and management of running several locations, diverse food styles and local produce menus.”
Supreme’s proposed relationship with US Highland will enable Supreme to implement an ambitious product innovation and growth plan as UHLN’s subsidiary, for shared gains. Founders Mario and Barbara Parravano are excited to have the enabling power of the public capital market to help take their forward-looking packaged food product concepts to the next level. Mrs. Parravano comments on her attitude to innovation in the food sector: “Innovation is more than just necessary – it’s fun! There is so much we can do, and love doing, to bring new flavors and nutritional combinations to our customers. We are passionate about what we do, so we just never run out of ideas. We have more now than ever! That’s why I am looking forward to this new relationship. So much good can come from it. It will be great sharing that success with our new stakeholders.” Mario Parravano, whose manufacturing expertise has delivered hundreds of millions of food servings to consumers through various channels of distribution, adds: “It may surprise people that my favorite room in the plant is the tool shop! That’s because figuring out how to actually manufacture tens of thousands of our creations per day requires engineering solutions that people don’t think about. It’s very satisfying to be able to put together a custom production line, sometimes with equipment that is designed from scratch or modified to give special characteristics to our food. I’m a bit of an inventor – so we have been able to create solutions for every baked food project that we have ever set our sights on. That’s what we bring to the table – results. I agree with Barbara, it’s more than hard work; it’s fun.”
About Supreme Sweets, Inc.
Supreme founders Mario and Barbara Parravano are award-winning creators of branded food products since the 1990’s in vendor relationships with some of North America’s finest retailers, although always as owners of non-public supplier companies. Supreme presently operates a 35,000 sq. ft. production facility that supplies proprietary and private label baked goods to retailers and food service establishments
About US Highland, Inc.
US Highland, Inc. is a franchise development company that builds and represents popular franchise concepts throughout the United States as well as International markets, with an emphasis on food and wellness. Our management team selects up and coming concepts with substantial growth potential. With diminishing territory available to older franchise brands, we bring fresh innovative brands to consumers that have great potential. All of our brands are unique in nature by focusing on niche markets with untapped potential for development.
Safe Harbour Statement
This communication contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of US Highland, Inc. and members of its management as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Source: US Highland, Inc.