CANTON, Ga., Feb. 10, 2014 (GLOBE NEWSWIRE) -- Blue Water Global Group, Inc. (OTCBB:BLUU) is providing this Blue Water Bar & Grill™ status update to its shareholders within the scope of applicable non-disclosure agreements and Regulation FD. As previously disclosed, Blue Water is continuing its negotiations for two restaurant locations on St. Maarten, both of which are beachfront. Below are additional details about each prospective location:
Location 1 (New Construction):
- Approximately 150 seats
- Currently negotiating concept details and long-term land lease with landowner
- Landowner retained an architectural firm to prepare Blue Water Bar & Grill™ blueprints for the site
- Projected to be open in Q4 2014 around the beginning of the 2014 "high season"
Location 2 (Existing Building):
- Approximately 100 seats
- Minimal renovations required (estimated one month of construction time)
- Negotiations for long-term lease are continuing
- Projected to be open in Q2 2014
The name, location and photos of each restaurant location will be released as soon as formal agreements have been executed with each landowner. Blue Water believes it has sufficient personnel identified and financing sources available to open both restaurant locations.
Blue Water's President and CEO, J. Scott Sitra, stated, "We are working diligently to secure both complementary premium restaurant locations in St. Maarten for our Blue Water Bar & Grill™ concept. In both instances we are negotiating with large, multi-national public entities, which have vision and potential of our mutual relationships." Mr. Sitra added, "It is important to note that the landowner of the undeveloped beachfront lot has retained an architectural firm at their expense to draft the Blue Water Bar & Grill™ blueprints tailored to this site, which speaks volumes about our concept and business direction. We have already met with the architectural firm and they have begun the drafting process pursuant to our design specifications."
About Blue Water Global Group
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand. Additionally, Blue Water is engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB. For more information, visit www.bluewaterglobalgroup.com.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.
CONTACT: Investor Relations Contact Craig Fischer 786.375.0556 firstname.lastname@example.orgSource:Blue Water Global Group, Inc.