SALT LAKE CITY, UT--(Marketwire - June 15, 2010) - Green Endeavors, Ltd. (
The initial cost to build out, stock, staff, market, and furnish the new location is estimated at $400,000. Pursuant to the terms of the lease, the landlord is providing tenant improvements which may have a value of up to $200,000. The lease rate, as a portion of gross revenues, is expected to be within certain financial benchmarks set forth by Aveda™. The new location will be an Aveda™ Lifestyle location, which means that we will carry a full line of Aveda™ products and intends to meet certain monthly retail sales goals.
Richard Surber, CEO of GRNE, commented, "In my opinion the lease is a good deal for Landis Salons II. I have set a target opening date for the new location to be 90 days from today. Our Landis team is in the final stages of lining up a low interest loan from the Salt Lake Redevelopment Agency for $100,000, an equipment loan for up to $100,000 and additional equity financing of $250,000. I expect the new location to be well capitalized. The salon opening will be a milestone in GRNE's plans for future growth and the grand opening will be a spectacular event."
The new location was chosen for a host of reasons, including but not limited to the following:
Mr. Richard Surber, CEO stated, "I expect to issue regular releases on our progress. I encourage professionals in the beauty industry to become part of the Landis team and fill out an application at www.landissalon.com. Our new location will be another premier salon in Salt Lake City. My plan is to hit the ground running with as many as 20 new stylists on opening day."
About Green Endeavors, Ltd.
Green Endeavors, Ltd. (
GRNE strongly encourages the public to read the above information in conjunction with its filings and disclosures filed in 2009 and 2010. GRNE's disclosures can be viewed at www.pinksheets.com; prior years are also available at www.green-endeavors.com.
This press release contains forward looking statements. The opening of the additional location is contingent upon completion of the construction and raising sufficient capital to fund the construction and operation of the prospective location. Management believes that it will be able to raise sufficient capital to operate the new location. However, there are no assurances that such assumptions will prove correct with regard to this additional location. The actual results that GRNE may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Investors should not invest more than they can afford to lose in penny stocks.
Contact Information:
FOR MORE INFORMATION, CONTACT:
Richard Surber
President
Green Endeavors, Ltd.
801-575-8073 x 106