Chanticleer Holdings Comments on Proposed Restaurant Operations Spin-Off
CHANTICLEER HOLDINGS INC (BURG)
Last chanticleer holdings inc earnings: 11/14 04:00 pm
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US:NASDAQ Investor Relations:
chanticleerholdings.com/investor-relations
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Source: GlobeNewswire
CHARLOTTE, N.C., Nov. 07, 2019 (GLOBE NEWSWIRE) -- Chanticleer Holdings, Inc. (NASDAQ:BURG) (“Chanticleer” or the “Company”), owner, operator, and franchisor of multiple nationally recognized restaurant brands, today announced that in connection with the previously announced spin-off of its restaurant operations that is expected to occur in connection with the closing of its previously announced merger (“Merger”) with Sonnet BioTherapeutics (“Sonnet”), the spin-off entity intends to apply for trading of its shares of its common stock on the OTC Markets OTCQB Exchange. As part of its previously announced merger, Chanticleer will spin-off its current restaurant operations into a newly created entity to be owned by the current Chanticleer stockholders. Although the spin-off entity intends to eventually apply for listing of its shares on the Nasdaq Stock Market, the new entity will need to initially trade its shares on the OTC Market following the spin-off. On October 10, 201
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